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Mauritius Country Focus Report 2026: Mauritius Must Mobilise Development Financing at Scale to Achieve High-Income Ambition

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Mauritius

The report projects that economic growth in Mauritius will slow to 3% in 2026 before recovering to 3.8% in 2027, supported by financial services, wholesale and retail trade, and tourism on the supply side, and by household consumption on the demand side

PORT LOUIS, Mauritius, August 12, 2026/APO Group/ –Mauritius must mobilise development financing at scale to deepen structural transformation, drive sustainable and inclusive growth, and realise its vision of becoming a high-income economy, according to the African Development Bank’s (www.AfDB.org) 2026 Country Focus Report (CFR) (https://apo-opa.co/4woGEqE) and the Bank-commissioned Mauritius Productivity Study, both released on 29 July 2026.

 

The CFR, titled Mobilising Mauritius’ Development Financing at Scale in a Fragmented World, reviews the country’s recent macroeconomic performance and outlook, quantifies its development financing gap, and proposes reforms to strengthen financial systems in a rapidly changing global environment.

The report projects that economic growth in Mauritius will slow to 3% in 2026 before recovering to 3.8% in 2027, supported by financial services, wholesale and retail trade, and tourism on the supply side, and by household consumption on the demand side.

Key growth drivers in 2025 included financial services, wholesale and retail trade, and tourism—with tourist arrivals reaching an all-time high of 1.44 million—while final consumption expenditure was the main contributor on the demand side.

However, the report cautions that structural bottlenecks are hindering deeper economic transformation and long-term economic growth. These include labour market rigidities, skills mismatches and an ageing population; infrastructure deficits in the water and energy supply and in port logistics; and gaps in information and communications technology (ICT).

Inflation is projected to accelerate to 5.7% in 2026 — breaching the central bank’s monetary policy target range of 2-5% — due to the impact of the conflict in the Middle East, before easing to 3.9% in 2027 as global commodity prices ease.

The recommendations presented are a call for collective action

Despite the government’s strong commitment to fiscal consolidation, public debt remains elevated, constraining fiscal space. Nevertheless, the fiscal deficit is projected to narrow to 6% of GDP in 2026 and 3.7% in 2027 on the back of growth-friendly consolidation measures, with public debt projected to fall below 80% of GDP in 2029.

In his opening remarks, Prof. Kevin Urama, Chief Economist and Vice President for Economic Governance and Knowledge Management, said: “By adopting good practices in domestic revenue mobilisation, improving efficiency in public expenditure planning, public finance and debt management, mobilising investment from Africa’s institutional investors, the African diaspora and high-net-worth individuals, and addressing informality, the continent can mobilise capital at scale to finance its development.”

In her welcoming remarks, Moono Mupotola, the Bank’s Deputy Director General for Southern Africa and Country Manager for Mauritius, said the Country Focus Report and the Mauritius Productivity Study are more than analytical publications: together, they provide an evidence-based roadmap for strengthening Mauritius’ resilience, enhancing productivity, and mobilising the resources needed to achieve the country’s long-term development ambitions.

“The recommendations presented are a call for collective action. Real progress will require continued collaboration between the public and private sectors, development partners, academia, civil society, and financial institutions to translate these ideas into concrete reforms, investments, and lasting results. By building on its strong institutional foundations and embracing the reforms outlined in these studies, Mauritius is well positioned to strengthen its competitiveness and secure economic transformation,” Mupotola said.

The Bank also presented the key findings of the Mauritius Productivity Study, commissioned to inform the preparation of the Mauritius Vision 2050 and the Ten-Year National Development Plan. The study assesses the causes of productivity slowdown and challenges hindering deeper structural transformation, and how to boost digitalisation, Industry 4.0 adoption and competitiveness. It identifies emerging growth pillars, including the ocean economy, the digital and knowledge economy, the circular economy, and the creative and cultural industries.

The Mauritius CFR 2026 report (https://apo-opa.co/4woGEqE) was presented by Wolassa Kumo, African Development Bank’s Principal Country Economist for Mauritius. Taruna Ramessur, Consultant and Associate Professor at the University of Mauritius, presented the key findings of the Mauritius Productivity Study.

The virtual launch brought together senior officials from the Ministry of Finance, other government officials, development partners, private sector representatives, civil society, and senior officials from the Bank Group. They offered strategic insights on both reports.

Jamiil Jeetoo, UNDP National Economist for Mauritius and Seychelles, stressed that development finance should be assessed not only by the volume mobilised, but by the productivity and resilience it generates.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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Afreximbank Announces Speakers for Africa’s Largest Compliance Forum

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Afreximbank

Bankers, compliance specialists and fintech leaders from more than 40 countries will explore how regulatory cooperation and technology can align compliance approaches, reduce barriers and advance intra-African and global trade

CAIRO, Egypt, November 3, 2026/APO Group/ –Afreximbank (www.Afreximbank.com) has announced speakers for its 2026 Compliance Forum, Africa’s largest compliance-focused gathering. Discussions will address regulatory fragmentation and barriers across Africa, improve access to correspondent banking services, and explore how technology can strengthen compliance and facilitate cross-border trade

 




  

Organised in partnership with the Botswana Investment and Trade Centre (BITC), the Forum will take place from 16 to 18 November 2026 at the Gaborone International Convention Centre in Botswana. Discussions will focus on strengthening regulatory cooperation, improving access to financial services and using technology to support effective compliance across African markets.

Confirmed speakers include Governor Lesego Caster Moseki, Bank of Botswana, Dr. Patrick Ndzana Olomo, Ag. Director, Economic Development, Integration and Trade, and Head of Economic Policy and Sustainable Development, African Union Commission (AUC), Luis Koberg, Founder and CEO of Klearium Group; Shane Ridel, CEO of Elucidate, Sophie Barre, Global Head of Risk and Compliance at Wave Mobile Money Group; Mr Mooketsi Ramanteba, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), Nellie Nuyoni, Head of Private Sector, CBZ Holdings, Moira Mapundu, Head of Compliance, NMB Bank Limited and Boitumelo William of Continental Reinsurance. Compliance specialists from Dow Jones and Standard Chartered will also participate.

Mr Keletsositse Olebile, Chief Executive Officer of the Botswana Investment and Trade Centre, said: “Strong and predictable compliance systems build investor confidence, protect institutions, and create the conditions in which trade and enterprise can flourish.”

Under the theme “Better Compliance – Better Trade: Leveraging Compliance to Promote African Regulations that Advance Intra-African Economic and Trade Integration,” the Forum will examine how African markets can make their regulatory systems work more effectively together while preserving national sovereignty.

Idrissa Diop, Compliance Director at Afreximbank, said: “Our banks across Africa operate across very different legal systems, supervisory approaches and levels of digital maturity. Africa does not need uniformity at any cost. It needs interoperability that reduces friction while preserving regulatory sovereignty.

Our banks across Africa operate across very different legal systems, supervisory approaches and levels of digital maturity

“We invite regulators, compliance specialists, banks, fintechs, trade institutions and technology providers from across the continent to come to Gaborone ready to turn shared principles into practical cooperation, because better compliance can and should deliver better trade for Africa.”

The opening session, “Is Better Compliance Leading to Better Trade?”, will assess how regulatory cooperation can facilitate cross-border business. Other sessions will cover anti-money laundering and countering the financing of terrorism, sanctions, cybersecurity, consumer protection and the use of artificial intelligence in compliance.

Access to correspondent banking services will be a key focus. Luis Koberg, Founder and CEO of Klearium Group, said: “Many African banks continue to face barriers to accessing correspondent banking services. The reasons given often overlook a fundamental challenge: limited visibility across the payment chain. Improved transparency gives our industry the ability to accurately assess and manage risk, on a case-by-case basis with confidence.”

Delegates will also examine how fintech and risk-based onboarding can extend access to affordable financial services while meeting compliance requirements.

Sophie Barre, Global Head of Risk and Compliance at Wave Mobile Money Group, said: “Fintechs are rewriting the rules of financial inclusion and efficiency. By combining world-class technology with intelligent, risk-based onboarding, they can deliver affordable, simple and reliable services within a compliant ecosystem.”

The Compliance Forum will also feature an exhibition of AI-enabled anti-money laundering and counter-terrorist financing compliance systems. These demonstrations will let delegates engage with emerging technologies that can strengthen risk detection, monitoring, and reporting.

This Forum comes as artificial intelligence, automation, cybersecurity, third-party risk and diverging regulatory requirements place new demands on financial institutions. These developments reinforce the need for compliance approaches that reflect Africa’s regulatory, economic and institutional realities while drawing on global good practices.

ACF2026 will provide a platform for stakeholders to redefine compliance strategies for a changing financial environment and develop practical approaches that protect institutions while enabling more efficient movement of capital, goods and services across African borders.

For programme details and registration, visit ACF2026 (https://apo-opa.co/4iVtopG)

Distributed by APO Group on behalf of Afreximbank.

 




 

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Gas Exporting Countries Forum (GECF) Leadership Roundtable Brings Gas Producer Coordination to Paris

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Etu Energias

As African gas producers navigate rising domestic demand, global LNG competition and a renewed push for investment, the GECF Leadership Roundtable at the Invest in African Energy 2027 Forum will examine how greater coordination can support project development, market access and long-term gas monetization

PARIS, France, November 3, 2026/APO Group/ –Africa’s gas industry is entering a period in which cooperation between producing countries could become increasingly important. Demand is rising, LNG markets are being reshaped by geopolitical disruptions and new supply, while major gas developments across the continent continue to compete for capital.

 




  

Against this backdrop, the GECF Leadership Roundtable at the Invest in African Energy (IAE) Forum 2027 in Paris will bring the perspectives of gas-producing countries into a discussion focused on the commercial and strategic priorities shaping the sector.

The session comes as Africa continues to expand its role in global LNG markets. The GECF forecasts LNG exports from the continent to reach about 110 billion cubic meters (bcm), or 80 million tons per annum (mtpa), by 2030, rising to 215 bcm, or 160 mtpa, by 2050. The outlook spans producers including Algeria, Angola, Egypt, Equatorial Guinea, Mozambique, Mauritania, Senegal and Nigeria, while GECF projections point to growing LNG trade with Asia and within African markets.

Recent developments have reinforced the strategic value of that supply base. Tanzania’s long-delayed $42 billion LNG project has gained renewed attention as disruptions to Middle Eastern gas supplies have increased the value of diversified LNG sources, while ExxonMobil is advancing preparations for Mozambique’s Rovuma LNG project after years of delay.

For African producers, however, expanding exports is only one part of the equation. Domestic gas demand is rising at the same time that governments are seeking to use gas to improve electricity supply, support industrial development and create new revenue streams. That creates a need to balance export projects with domestic offtake, pipeline infrastructure, gas processing and gas-to-power development.

Coordination between producing countries can help address some of these challenges. Sharing experience on fiscal frameworks, project development, infrastructure and market access can help governments compete for investment while strengthening the case for regional gas infrastructure and cross-border trade.

The global market is also becoming more competitive. Reuters reported this month that gas and LNG infrastructure investment is expanding across multiple regions, with Asia accounting for the largest share of planned LNG import capacity. At the same time, disruptions to Middle Eastern supply have reinforced concerns around security of supply and increased the strategic importance of alternative producers. That creates an opening for African gas producers, but converting that opportunity into projects will require capital, infrastructure and credible long-term markets.

The GECF Leadership Roundtable at IAE 2027, taking place in Paris from May 11-13, will provide a senior-level setting to examine those issues alongside the investors and project developers needed to advance them. The wider forum is designed to connect African energy markets with global capital, with a focus on projects spanning gas, LNG, infrastructure and power.

For African gas producers, the question is how effectively its resources can be developed, connected to markets and converted into reliable energy and industrial growth. The Paris roundtable will put producer coordination at the center of that investment conversation.

Distributed by APO Group on behalf of Energy Capital & Power.

 

 




 

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Islamic Corporation for the Development of the Private Sector (ICD) and Open Bank Sign Expression of Intent for a Potential USD 10 Million Line of Financing in Uzbekistan

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Islamic Corporation

The EoI sets out the intent to establish a Shariah-compliant LoF facility of up to USD 10 million from ICD to Open Bank to be deployed for the onward financing of eligible private sector projects, including small and medium-sized enterprises (SMEs) and corporates operating in the Republic of Uzbekistan

JEDDAH, Saudi Arabia, November 1, 2026/APO Group/ –

  • ICD and JSC Open Bank (Uzbekistan) have signed an Expression of Intent for a potential Shariah-compliant Line of Financing facility of up to USD 10 million
  • The facility aims to channel funds to eligible private sector projects, including SMEs and corporates across Uzbekistan
  • The potential Line of Financing facility intends to support job creation and SME growth, contributing to broader economic development in Uzbekistan
  • Open Bank, a privately owned digital bank licensed by the Central Bank of Uzbekistan, will serve as the intermediary institution to channel the funds to private enterprises

 




 
 

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank (IsDB) Group, and Joint Stock Company “Open Bank” (Open Bank) from Uzbekistan have signed an Expression of Intent (EoI) in Jeddah, Saudi Arabia, on 26 October 2026, for a potential Shariah-compliant Line of Financing (LoF) facility of up to USD 10 million, aimed at supporting eligible private sector projects in the Republic of Uzbekistan.

The EoI sets out the intent to establish a Shariah-compliant LoF facility of up to USD 10 million from ICD to Open Bank to be deployed for the onward financing of eligible private sector projects, including small and medium-sized enterprises (SMEs) and corporates operating in the Republic of Uzbekistan. The facility is designed to ensure that financing reaches productive segments of the economy in a manner consistent with Shariah principles and in line with the development objectives of ICD and Uzbekistan.

The intended facility reflects ICD’s commitment to expanding access to Shariah-compliant financial services in Central Asia. By working through Open Bank, a digitally oriented institution with a focus on retail and SME customers, the proposed LoF aims to direct resources toward businesses that can generate meaningful employment opportunities and contribute to sustainable economic growth in Uzbekistan. SME support of this nature plays an important role in strengthening the private sector and broadening economic participation across the country.

ICD’s development mandate centers on advancing private sector growth and improving livelihoods in its member countries through Shariah-compliant financing solutions. The intended LoF with Open Bank aims to contribute to job creation and SME support in Uzbekistan, outcomes that align with ICD’s broader objective of fostering inclusive and sustainable economic development across the IsDB Group’s member countries.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

 




 

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