Mauritius has emerged as a regional hub for technology and innovation, with the government’s efforts to promote Mauritius as a technology hub in Africa and the Indian Ocean region. The country’s favorable tax regime, political stability, and skilled workforce have contributed to the growth of the technology and innovation sector. The government has also been working to attract foreign investment in the sector, with the establishment of the Mauritius Research and Innovation Council (MRIC) to promote the country’s technology and innovation sector and attract foreign investors.
The Ebene Cybercity in Mauritius was developed with the idea of being a hi-tech hub, and has now developed into a modern financial center providing high-quality offices and amenities. It is now regarded as the second business city of Mauritius after Port-Louis, and many businesses have subsequently moved there. Since 2016, Mauritius has started to look at developing the Fintech sector and providing facilities for the Though still in the early stages, the Fintech industry is slowly developing. As a jurisdiction, Mauritius used to rely mainly on its sugar and tourism industries, but the Government of Mauritius has sought to diversify and remains active in trying to develop new industries. The 1980s created a boom in the textile industry, and the Government of Mauritius has sought to develop its services industry since then. The 1990s called for the development of the financial services sector, and Mauritius has since firmly established itself as a sound and reliable financial services center. Since the early 21st century, the government has been working to promote emerging circular economy, old-age, disability, and social care services, amongst others.
Mauritius’ unique relationship with Africa positions it as a key stakeholder in the continent’s fintech industry. The country’s heritage as a gateway into Africa positions it perfectly to facilitate and advocate a growth potential for people and economies with limited traditional financial infrastructure. The government’s efforts to promote emerging circular economy, old-age, disability, and social care services, amongst others, have contributed to the growth of the technology and innovation sector. The country’s economic outlook for 2022-2024 shows optimistic signs of economic recovery, with strong performance in private consumption and investment. The government’s efforts to promote Mauritius as a technology hub in Africa and the Indian Ocean region have been successful, with the sector continuing to grow and attract foreign investment.
