By Shruti Menon Seeboo
On the 2nd Day of the Africa Partnership Conference, Chief Executive Officer of Intrasia Management (Mauritius) Limited, Mr Aslam Kanowah came forward stating that African leaders are now agreeing boost up the continent’s lost potential and have been very aggressive in affirming the rights, to be treated as partners instead of being dictated.
Africa is a rich and diverse continent. It’s the second largest continent, as well as the second most populous continent, however, Africa is yet to make use of its huge potential and the full benefit from natural resources. Historically, Africa has been exploited for its human and natural resources, explaining on this, Aslam said, “Following the independence of African countries, just a few success stories emerge. Several African leaders, in the 1970s or 1980s had put forward an African agenda for the benefit of their people. Unfortunately, those efforts were not all in favour, resulting in the backdrop of the continent’s economic growth and which led to an increasing number of unemployment and poverty.”
Coming to the present, then came COVID, which made many African countries realise that they need to stand on their own rather than rely on others. Aslam says, “Africa’s economy is like a big puzzle with many different pieces. Those pieces include natural resources, resources, farming, financial services, and its young population, which is just waiting for the right and fair opportunity – each of these pieces will play a vital role in Africa’s growth and success.”
Africa has witnessed a surge in offshore opportunities driven by the discovery of substantial industries that flew with a growing demand for natural resources and financial services. The continent holds immense potential for investors, businesses, governments, all of this can eventually lead to strategic collaboration and utility approaches. Aslam says, “We stand at the threshold of unlocking unprecedented opportunities that will not only change the trajectory of the economic landscape, but will also leave a mark on the continent and elsewhere. Mauritius being strategically placed in Africa, plays a vital role. We have a robust financial centre which is internationally well recognised and it makes us a key player in the continent. Mauritius has a well reputed political, economic, and financial environment. It acts as a financial hub between Africa and Asia, but also an investment route from Australia, Europe and USA into Africa.”
In particular, the relationships are defined by the Double-Taxation Avoidance Agreement (DTAA) and the Investment Promotion and Protection Agreement (IPPA). This forms the backbone signing relationship between Africa and Mauritius, providing clear guidelines and fostering a predictable environment for investment. The IPPA assures investors a fair treatment, protection against expropriation and dispute resolution mechanism, and reducing perceived investment.
Aslam explains, “These agreements create an attractive, stable and legally secure environment for businesses that want to invest, and it dives for economic growth in both regions. The agreements have been established between Mauritius and 21 African countries. These agreements are the foundation of our commitment to creating an environment which is conducive to mutual growth and prosperity. By leveraging Mauritius are the gateway to Africa, investors from Asia, Europe and Australia have gained substantial advantages when venturing into the African market.”
Speaking about some of the key benefits, Aslam said that it is a defined structure for taxation, it reduces uncertainty, enables long-term planning with investment banks, it establishes African impact investment funds, creates opportunities for emerging markets Mauritius empowers investors to grow new territories, helps unlock the opportunity and contribute to the development of African regions.
Aslam says, “So these countries can utilise Mauritius as a springboard to invest inAfrica, enjoying the range of benefits and the multitude of avenues to do so. One popular approach is to invest in funds, which provide a structured and efficient way to navigate the complexities of cross border investments. Africa with its vast potential and resources, is a treasure trove of opportunities for international investors. It is a continent on the rise, bringing innovation, talent and untapped markets. And Mauritius serves as the bridge for this.”
Speaking about the company, Aslam gave an overview of Intrasia Management (Mauritius) Limited – it is a leading public business development and financial services group spanning across banking, corporate and financial services, mining and energy development, real estate investment in various African countries. It is headquartered in Singapore with operations in Mauritius, and investments in Australia, Mauritius, Madagascar, Mozambique, Singapore, and Tanzania.
Aslam said, “We are a licensed management company dedicated to providing exceptional offshore services. We are committed to fostering fruitful collaborations between investors from Asia, Australia, Europe and emerging markets. Our services range from corporate structuring, setting up an administration back-office operation, accounting and bookkeeping, legal and compliance services, and financial advisory. We ensure a seamless and secure pathway for investments. We are proud to be a reliable partner in guiding businesses through the complexities of global finance.”
He went onto add, “Mauritius has different types of companies including global business companies, authorised companies, trust, foundation and specialised licences. Mauritius passed its Virtual Assets and ICOs in 2021, which enables better asset activities and initial token offering to be undertaken in a controlled and secured manner, protecting investors and business communities alike. Mauritius is well-known for investment funds since the early 1990s especially routing investment into India. The focus has now shifted for structuring international investment from Australia and Europe into Africa as well. The Stock Exchange (SEM) on Mauritius has further enhanced these offerings by providing listing opportunities for these funds to be listed on the SEM.” Intrasia has an offshore office in Singapore and works with various corporate service providers including Bermuda, BVI, Seychelles, Malta, Dubai and many other places. On a concluding note, Aslam said, “Intrasia Management takes great pleasure in going an extra mile with our offerings. We work hand in hand with our clients ensuring that you will get the answers. We are a provider where you can partner in navigating big data and we pitch ourselves as a one stop shop for your requirements.”
