Ex-AfrAsia founder Ben Padayachy helps Bernard Koné Dossongui make his Indian Ocean splash
The BNP, Barclays, Standard Bank, and AfrAsia Bank veteran is working to structure the Ivorian magnate's assets in Mauritius, Madagascar, and the Comoros.
Prime Minister Pravind Jugnauth has put together a solid team of experts to work on getting Mauritius off the European Union's blacklist of third countries that pose a risk to the bloc because of anti-money laundering deficiencies. But this task force still hasn't been able to escape the list.
The Russian financier Alex Gerchik, ex-trader and briefly a reality TV star, has set up a subsidiary in Mauritius for his online trading platform. Companies of this type have mushroomed in the island's offshore hub as well in the Seychelles.
On 9 July, after months of preparation, the Cairo-based trade finance institution Afreximbank finally registered its credit insurance subsidiary AfrexInsure in Mauritius, with the help of trustee Ocorian.
The Amsterdam-based accounting and tax services firm TMF has been assisting the South African company Singita, which rents out luxury safari lodges.
In line with a popular trend with financial markets worldwide, finance minister Renganaden Padayachy announced during his budget speech earlier this month that the stock exchange was introducing rules to allow the listing of Special Purpose Acquisition Companies (SPACs).
FlyAfrica boss Cassidy Mugwaga, who has close ties to the Mnangagwa clan, is setting up a new aviation investment vehicle with backing from two Hong Kong financiers.
The African Development Bank's infrastructure platform has opened a new private fund to attract Africa's large institutional investors.
An investment fund created by Afreximbank to promote inter-African trade registered an entity in Mauritius last month. The institution itself is due to set up its headquarters in Kigali.
Cooing, an online high-end property sales platform, registered a company of the same name in Mauritius on 10 May.
On 14 April, the Monaco-based financial expert Filippo Ferrari registered a new firm in Mauritius called Alliance Négoce on behalf of one of his clients.
Engaged in a major charm offensive aimed at the EU, this summer Mauritius plans to enforce a new law requiring companies registered on the island to prove that they have "substantial activities" in the country, but the legislation does recognise holding companies' activities as substantial ones.
With his proposed global minimum tax rate, Joe Biden could deprive offshore players in Mauritius of one of their unique selling points.
The Mauritian Independent Commission Against Corruption has ordered the island's banks to communicate the details of the accounts opened by Isabel dos Santos, Sindika Dokolo and Konema Mwenenge.
Having sold a Mauritian financial services company to the giant Maitland, South African national Brendon Jones has now set up a mixed entity, which both manages assets and sets up offshore companies.
To consolidate their positions in the Indian Ocean, China and India are stepping up their cooperation with the Madagascan and Mauritian armies while the United States keeps a watchful eye on the region.
Deon Garbers has kept a low profile since he left Katanga Mining in 2018 following investigations into the Glencore subsidiary. But he recently reemerged to set up a consultancy firm in Mauritius.
The Kasada hotel fund created a new investment vehicle in Mauritius at the end of February with the help of financial services provider Sanne.
Kevin Ellerine, the son of the South African furniture magnate, has new investment projects in the pipeline through a firm set up in Mauritius in February. He is meanwhile continuing to manage the family fortune along with his cousin Dionne Ellerine and his uncle Eric Ellerine.
The American entertainment colossus Warner Music decided to create a base in Mauritius' financial centre at the end of February in order to enter the Indian market, partnering with South African firm Ziiki Media.
Crypto asset specialist Apollo Fintech opened up in Mauritius at the end of January. The island's Economic Development Board has been trying to attract cryptocurrency companies since 2017.
Accused by Brussels and FATF of being too lenient on firms active in its offshore ecosystem, Mauritius is trying to clean up its act but in a measured fashion so as not to scare off its traditional clients.
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