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FSC issues Code of Business Conduct |
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As part of its Fair Market Conduct Programme, the Financial Services Commission (FSC) has issued a Code of Conduct (the Code) on 1 October 2015. The Code is effective as from 1 January 2016. The Code lays out the 9 main principles that all licensees are expected to follow to ensure the sound conduct of business
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FSC issues Circular Letter on the Registration of Prospectus for IPO issuers |
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| On 24 September 2015, the Financial Services Commission (FSC) issued a circular letter (CL240915) to inform all stakeholders of the procedures for registration of prospectus in line with section 76 of the Securities Act 2005 which are applicable with immediate effect.
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Mauritius occupies top spot on the Ibrahim Index of African Governance (IIAG) |
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Mauritius maintains the lead position in the IIAG 2015 (commonly referred to as the “Mo Ibrahim Index”), launched on 5 October 2015.
The IIAG is an annual assessment of the quality of governance of all the African countries based on 4 distinct concepts, namely:
1. Safety & rule of law
2. Participation & human rights
3. Sustainable economic opportunity
4. Human development
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Mauritius ranks 1st in Sub-Saharan Africa on Global Innovation Index 2015 |
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Mauritius takes the lead in the Sub-Saharan Africa region in the Global Innovation Index 2015 (GII 2015) followed by South Africa and Senegal.
The GII 2015, published on 17 September 2015, surveys 141 countries and takes into account 79 indicators. This index provides an insight into the state of innovation around the world and one of the key findings of this year’s report is that more and more developing countries are embracing innovation to bolster their industrial and economic growth.
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Annual Economic Freedom of the World report 2015 – Mauritius ranks in the top 10 |
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Mauritius ranks 6th on the Economic Freedom of the World (EFW) report 2015 issued by the Fraser Institute on 14 September 2015, ahead of major countries such as the United States (16th), Japan (26th), Germany (29th) and France (70th). With a score of 8.08, Mauritius is well above the average economic freedom score of 6.86.
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Mauritius signs IPPA with UAE |
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On Sunday 20 September 2015, Mauritius signed an Investment Promotion and Protection Agreement (IPPA) with the government of the United Arab Emirates (UAE).
The objective of the IPPA is to boost cross-border investment by protecting investors from direct or indirect double taxation, improve commercial and economic relations and broaden investment opportunities.
The IPPA is yet to be ratified by both governments.
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The Stock Exchange of Mauritius joins the UN Sustainable Stock Exchanges Initiative |
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As part of its initiative to promote sustainability and responsible investment, the Stock Exchange of Mauritius (SEM) joined the United Nation’s (UN) Sustainable Stock Exchanges initiative (SSE) as a Partner Exchange on 25 September 2015.
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Stock Exchange of Mauritius awarded the “Most Innovative African Stock Exchange for 2015” |
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It is the third time in five years that the Stock Exchange of Mauritius (SEM) is conferred the “Most Innovative African Stock Exchange” award at the Institutional Investment Capital Market Awards 2015 organised by Africa investor (Ai). The awards ceremony was held on the 25 September 2015 at Thomson Reuters in New York.
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DISCLAIMER The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.
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