Work, Business & Economy

by Catherine
mauritius-work-business-economy

Introduction

My Mauritius Life doesn’t claim expertise about the economy, taxation, residency, job hunting, business opportunities, etc., each the domain of specialists. Also, in a fast transforming economy, information ages in a blink. We connect you with the clearest, most knowledgeable, and well-maintained sites we’ve researched so you can do your homework. These are among the most credible private sector, or authentic governmental sites we’ve found, not the only ones.

Latest articles, interesting perspectives
State of the economy
Economic strategy and business opportunities
Taxation
Residency
Job hunting
Registering a business
Legal and accounting services
Useful publications and media

State of the Economy

Mauritius hasn’t encountered a recession since independence in 1968. By midyear, the country had shown a 52,4% drop in exports and a reduction of 53,1% in tourist arrivals. Job losses hover, unemployment predicted at 129 000 by year-end. It’s not surprising Mauritians are anxious. They’re not alone, the World Bank predicts that 167 countries will show negative growth in 2020; however, in a small economy, a ripple can overturn the boat.     

The current gloom shouldn’t overshadow the country’s dynamic rise in the past fifty-two years. It’s time to brainstorm alternative models. A massive and unexploited blue economy is up for grabs; tourism continues to flog an outdated model: the need to refresh is obvious. There’s room to expand local manufacturing and grow a pharmaceutical industry, and the circular sector needs attention. On a practical level, you can’t go wrong with food security and green energy. The country must respond, rebuild, and reboot. 

  • ECONOMIC RANKINGS: The following pre COVID-19 table, updated and adapted from the Economic Board of Development (EBD) places Mauritius in a global economic and socio-political context against African and international benchmarks. It will be updated once the virus’s ravages are more widely known.
Index No. of countries Global Rank (Mauritius) Africa Rank (Mauritius) Africa Rank (RSA)
World Bank Doing Business 2020 190 13 1 4
Global Competitiveness Index 2019 141 52 1 2
Corruption Perceptions Index 2019 (Transparency International) 180 56 5 7
International Property Rights Index 2019 126 40 1 3
Mo Ibrahim Index of African Governance 2018 54 1 7
Index of Economic Freedom – 2019 (Heritage Foundation) 180 25 1 11
Human Development Index 2019 189 66 2 5
Environmental Performance Index 2018 180 90 7 20
Travel and Tourism Competitiveness 2019 140 54 1 2

Economic strategy and business opportunities

From a mono-crop sugar economy pre 1968, Mauritius has transformed itself into a robust, diversified, knowledge-driven economy in the 21st century. The government is adept at building bridges with partner nations. It continuously fosters a conducive business environment to strengthen the island’s position as a leading investment destination. Bilingual, situated in favourable time zone in relation to its major business partners, Mauritius deserves a closer look. Sectors to consider are green energy, the circular and ocean economies, ICT, and manufacturing, with emphasis on pharmaceuticals. Scan the links below to gather a sense of the business culture in 2020.

Taxation

ROGERS CAPITAL GUIDE TO TAXES (early) 2020.

This Roger’s Capital Guide to Taxes is written with insight and clarity. Click here to access the guide: www.rogerscapital.mu

MAURITIUS REVENUE AUTHORITY:
https://www.mra.mu/index.php/taxes-duties/overview-of-taxes

DELOITTE – Tax highlights for 2020: (updated February 2020: there have been changes since)
https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-mauritiushighlights-2020.pdf

Residency

The Economic Development Board provides a comprehensive guide to the permits and schemes available for persons wishing to live in Mauritius. https://www.edbmauritius.org/work-and-live-in-mauritius/

Job Hunting

As a rule of thumb, don’t apply for jobs on corporate websites. They are seldom serviced; you are likely to become frustrated and demotivated. In a country the size of Mauritius, personal contacts are required. If you have no prior connection with Mauritius, start with LinkedIn or friends’ friends.

When attending an interview for a position in Mauritius it is worth bearing in mind that the dress code in the workplace is usually formal.

The following recruitment agencies advertise career positions which give you an understanding of the job market in Mauritius:

Deloittes – local job searchhttps://www2.deloitte.com/mu/en/pages/careers/careers/jobsearch.html?icid=top_jobsearch
My Job – local agencyhttps://www.myjob.mu/
Career Hub – local agencyhttps://www.careerhub.mu/careerhub-team-recruitment-specialists-mauritius/
Michael Page – international Agencyhttps://www.michaelpageafrica.com/jobs/mauritius
Expat.com – international Agencyhttps://www.expat.com/en/business/africa/mauritius/1_jobs/recruitment-agencies/

You could be looking for a corporate job, in which case it is better to contact the companies of your choice directly. Below is a list of the 10 top companies according to the Top 100 Companies Index (2019), produced by La Sentinelle annually.

 

CompanyTurnoverPrincipal activityContactSubsidiaries
IBL LtdRs37 074.4mConglomerate with wide ranging interests in commerce & investment+2302032000
iblinfo@iblgroup.com
Over 250
Ciel LtdRs22 608mTextiles
Agro and property
Hotels and Resorts
Finance
Healthcare
+230 4042200
info@cielgroup.com
Operating in Mauritius, Ivory Coast, Kenya, Tanzania, Uganda, Maldives, Madagascar, Seychelles, Botswana, Seychelles:
Alteo, Ferney (Agri)
Laboratoire International
Sun Resorts, Four Seasons
Anahita, Shangri-La, Le Touessrok (hotels)
CIEL Finance, Bank One
BNI Madagascar, MITCO
IPRO Investment services, KIBO Capital Partners, KIBO Funds I and II (Finance)
CIEL Healthcare (Health)
Welkin Hospital
Air MauritiusEUR 499.8mNational airline+230 2077070
contact@airmaritius.com
Airline
Eclosia GroupRs16,276mFood
Commerce
Logistics
Education
Business services
Hotels and leisure
+230404900
communication@eclosia.com
www.eclosia.com
Operates in Mauritius, Madagascar, Seychelles and Kenya.
Maurilait (Dairy)
KFC Franchisor
Branded chickens (several brands)
Avipro (poultry, eggs)
Charles Telfair campus
Odysseo (Oceanarium)
ENL LimitedRs14 602mAgro-industry
Hospitality
Real estate
Commerce & industry
Logistics
Fintech
+230 404 9500
info@enl.mu
www.enl.mu
Over 100 brands and businesses in the listed activities
Vivo Energy MauritiusRs12 849mVivo Energy
Shell licensee
+230 206 1234
www.vivoenergy.com
Filling stations, Gas, lubricants, etc.
Mauritius Telecom GroupRs10 605mICT public sector with fibre optic and full telecommunications packages+230 203 7000
ceo@telecom.mu
www.telecom.mu
Fixed line, internet, TV, mobile money
Partner with Google, Facebook & Netflix for cache servers
My.t brand
The Leal GroupRs10 214mAutomotive
Pharmaceutical & Dist.
FMCG distribution
IT cluster
Engineering
Tourism
Energy
Logistics
+230 207 2400
leal@leal.lealgroup.com
United Motors
Leal Reunion S.A.S.
Luxury Automobiles
PNL Health; Consumer: Retail: Chemical
Leal Comms & Info Ltd (LCI)
SOLINFO
Elytis
Leal Equipment Cie Ltd
Various car hire brands
Leal Energie Ltd
Ariva
New Hotels MauritiusRs10 106mTourism & hospitality+230 601 9000
beachcomber@bchot.com
www.beachcomber-hotels.com
Beachcomber Resorts
Princes TunaRs9 914.2mTuna processing+230 206 9000
ptm@princesmauritius.com
Cluster of tuna brands, frozen, pouched, canned
Quick list of other profitable Companies within the Top 100   
Rogers and Company LtdInternational services & investments; Fintech; hospitality; logistics, property.www.rogers.mu 
SWANFinancial solutions, insurance, assurance, pension and actuarial services, pension administration, investment advisory, wealth management and stockbroking+230 207 3500
info@swanforlife.com
www.swanforlife.com
Operates in Mauritius, Seychelles, Comoros, Madagascar, Zambia and Rwanda.
Phoenix Beverages LtdBeer, soft drinks: Brewer, bottler.
Distributor of wines and spirits
_230 601 2000
contact@phoenixbev.mu
www.phoenixbev.mu
Phoenix beer brands, Schweppes, Coca Cola, Fanta, Sprite, Crystal mineral water, Orangina, Eski, Five Alive
Aptis GroupDistribution of tobacco products
Commerce
Property
+230 249 2409TNS tobacco
Floor to Roof Ltd
Rasco Company
Resiglas Co. Ltd
Aptis Property
The Currimjee Group of CompaniesTelecoms, media, IT
Real Estate
Tourism & Hospitality
Commerce
Financial services
Energy
Food & Beverages
Home & Personal care
+230 650 6270
secretariat@currimjee-secretaries.com
Emtel
Currimjee Informaticcs
Digital paid TV
Currimjee Real Estate
Island Life insurance
Total Mauritius shareholder
Quality Beverages (QBL)
Margarine Industries
Central Distributors Co
Soap & Allied Industries
ABC Group of CompaniesAutomobile
Banking
Financial and insurance
Food
Shipping & Logistics
+230 405 1308
info@abcgroup.mu
Car dealerships, rentals maintenance franchises
ABC Banking
Private banking
ABC Academy
ABC Capital
Chue Wing & Co carries a number of food brands
ABC Shipping & logistics
Gamma GroupContracting
Building materials
Lottery
Hospitality
Real estate
+230 403 8000
headoffice@gamma.mu
www.gamma.mu
Gamma Construction
Gamma Materials Ltd
Lottotech Ltd
Morning Light Co.
Several properties
Compagnie Mauricienne Textile LteeVertically integrated textile and apparel manufacturers.+230 601 8888
info@cmt.mu
Headquartered in Mauritius, design and marketing offices in UK and France.
TerraConglomerate:
Sugarcane
Sugar milling
Energy production
Distillation
Commercial distribution
Leisure
Property development
Construction
Financial services
+230 204 0808
terra@terra.co.mu
www.terra.co.mu
Operates in Mauritius, Kenya, Uganda, Rwanda, South Sudan, Burundi and Seychelles.
Scott & Co. LtdImporters and distributors of FMCG, pharmaceuticals and healthcare products+230 206 9400
www.scott.mu
Food; beverages; household & personal care; wines and spirits
Pharmaceutical laboratories equipment; wide range of pharmaceuticals
Retail pharmacies.
Banking, Insurance and Financial sectors   
Mts Commercial Bank GroupRs386 370  
State Band of MauritiusRs226 374  
HSBC Holdings PLCRs135 450  
Afrasia Bank LimitedRs121 961  
BarclaysRs111 187  
Investec Bank (Mts) LtdRs 59 571  
Standard Bank (Mts)Rs 55 027  
The Swan Group (Insurance)Rs 7 530  
MUA (Insurance)Rs 4 399  
SICOM Group (Insurance)Rs 2 801  

Registering a business

The three links below are your starting blocks into the Mauritian business world, from deciding where to invest, to the process of registration and the maintenance of your business

https://www.edbmauritius.org/getting-started-old/setting-up/

https://www.mcb.mu/en/media/sme/Register_tcm70-30218.pdf

https://jjservicesmauritius.com/services/

Useful publications and media

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2 comments

Jenny Jay 20/12/2020 - 2:42 pm

Hi Catherine.
Love your new website! As a new investor in property in Mauritius, I’d love to read a blog from someone in the Mauritius property market on how COVID 19 is affecting the Mauritius property market and what is their outlook for 2021.

I’d also be interested to read an overview on which parts of the economy are doing well and which ones are struggling. For example, have any hotel groups gone out of business, is online shopping booming and how are the call centre and financial services industries doing?

Most importantly how and when is Mauritius planning to re-open to visitors without requiring quarantine? This requirement must surely be hampering most businesses in Mauritius. Without open borders, how can the country recover?
Just some ideas on topics I would love to read more about.
All the best,
Jenny

Reply
Catherine 27/12/2020 - 6:09 pm

Thanks so much for taking the time to send me your comments. I’m on to them!

I’ll have to work out where to put current affairs, will chat to my blog designer, but your ideas are really good. Keep in touch!

Reply

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