AGP Executive Report

Foreign Capital Push: India’s government and Sebi are meeting select foreign portfolio investors to win back inflows, with FPIs pressing for LTCG tax relief and lower securities transaction costs. Mauritius in the Finance Loop: The talks and related investor activity also highlight Mauritius-linked entities in regional capital flows, including Goldman Sachs Investments (Mauritius) in India’s IPO anchor demand. IPO Watch: LEAP India raised Rs 743.6 crore from 32 anchor investors ahead of its 7–11 August public subscription, with GMP pointing to a potential listing gain. Digital Infrastructure Deal: Macquarie Asset Management completed its acquisition of IHS Towers’ South American wireless operations, adding 8,700+ sites in Brazil and 250 in Colombia. Energy & Telecom Growth: Pace Digitek reported Q1 FY27 revenue up 51.3% to INR 555.4 crore, while expanding BESS manufacturing capacity to 5 GWh. Regional Industry Agenda: SADC leaders are set to meet in Durban to discuss industrialisation, infrastructure and food security, with Mauritius among member states. Local Governance & Justice: India’s real-estate enforcement spotlight continues with fresh scrutiny of BPTP and Raheja Developers over alleged homebuyer non-delivery and money diversion.

Banking & Equipment Finance: Access Bank Ghana signed a financing partnership with Mantrac Ghana (Caterpillar dealer) in a consortium to expand working capital and equipment financing for contractors and mining firms—aimed at easing the capital bottleneck that limits project scaling. Trade & Market Access: India’s new trade agreements are being framed as a “direct line” to global markets for Arunachal Pradesh farmers, metal producers and manufacturers, with Mauritius listed among partner countries. Regional Integration: SADC’s 46th Ordinary Summit is set for Durban (Aug 17) with leaders expected to push industrialisation, infrastructure, food security and integration, with Mauritius among member states. Mauritius in Finance & Business: ActivTrades launched an interest offer for Mauritius-regulated clients, paying up to 3.3% on USD free balances (and 2.4% on euros) to remunerate idle trading funds. Energy & Industry: Pace Digitek reported strong Q1 FY27 growth, expanding BESS manufacturing capacity to 5 GWh and maintaining a large order book. Cybersecurity Watch: A report flags South Africa as Africa’s ransomware hotspot, while Mauritius is cited among countries with high phishing detections—relevant for regional digital risk planning.

Mauritius-India Business Links: A Mauritius delegation led by the Minister for Industry, SME and Cooperatives, Sayed Muhammad Aadil Ameer Meea, visited India’s National Cooperative Union (NCUI) to discuss cooperative reforms and technology-driven growth, reinforcing cross-border industry cooperation. Energy & Manufacturing: Pace Digitek reported Q1 FY27 revenue up 51.3% to INR 555.4 crore, with profit up 14.3% and battery energy storage systems (BESS) manufacturing capacity expanded to 5 GWh, supporting a larger order book. Cyber & Digital Risk: Interpol-linked reporting flags South Africa as Africa’s cybercrime hotspot, with Mauritius also named among top sources of phishing detections—an alert for regional businesses and digital services. AI Infrastructure Race: A new global push for AI data centres is driving competition for physical infrastructure, but smaller states are weighing energy and water demands before signing up. Finance & Markets: Paytm’s parent One 97 Communications saw major stake sales worth Rs 2,038 crore by Elevation Capital and SAIF entities, while investors continued to trade the stock on deal momentum. Regional Policy Watch: SADC’s 2026 summit in Durban is set to focus on industrialisation, infrastructure, food security and deeper regional integration, with Mauritius among member states.

Mauritius-India Business Links: A Mauritius ministerial delegation led by Sayed Muhammad Aadil Ameer Meea visited India’s National Cooperative Union (NCUI) to deepen cooperation on SME and cooperative reforms, with NCUI highlighting digital and transparency-driven upgrades. Energy & Manufacturing: Pace Digitek reported strong Q1 FY27 results, with revenue up 51.3% and PAT up 14.3%, while expanding BESS manufacturing capacity to 5 GWh and pushing plans toward 10 GWh. Regional Integration: South Africa is set to host the 46th SADC summit in Durban on Aug 17, with Mauritius among member states as leaders focus on industrialisation, infrastructure, and food security. Finance & Infrastructure: Access Bank Ghana signed an equipment financing partnership with Mantrac to support contractors and mining firms—an approach that mirrors the kind of capital access Mauritius firms often seek. Food & Agriculture: Fiji sugar stakeholders discussed using bagasse and mill mud as productive inputs—an idea Mauritius sugar producers may find relevant for value-add and farm productivity. Tourism & Hospitality: RIU Palace Aruba reopened after a major Afl. 200m renovation, underscoring how private investment and standards drive island tourism competitiveness.

Fuel Price Shock Watch: A new explainer breaks down why jet fuel and diesel swing hard during geopolitical flare-ups, using recent Jet A-1 jumps and how fuel costs can quickly hit airline ticket economics. Mauritius Business & AI: Mauritius launched a Business AI Adoption and Governance Survey with industry bodies to track how firms are actually using AI and whether skills and governance are keeping up. Co-op Links: NCUI hosted a Mauritius delegation led by the Minister for Industry, SME and Cooperatives, spotlighting India’s cooperative reforms and partnership opportunities. Digital Finance in Mauritius: ActivTrades says its Mauritius entity now pays interest on uninvested free margin (up to 3.3% on USD balances), turning idle trading cash into yield. Tourism & Hospitality: RIU Palace Aruba reopened after an Afl. 200 million renovation, underscoring how upgraded hotel product supports higher-spending tourism. Industry Signals: GRSE won an ONGC contract for four offshore support vessels, a reminder of how offshore logistics demand keeps feeding shipbuilding orders.

Mauritius Business AI: Mauritius has launched an AI Adoption, Readiness and Governance Survey with the Chamber of Commerce and Industry, the Outsourcing and Telecommunications Association of Mauritius and the Mauritius Qualifications Authority to track how local firms are actually using AI and whether governance and skills are keeping up. Fintech & Investment Flows: SAIF Partners (via SAIF III Mauritius Company) and Elevation Capital sold a combined 2.33% stake in Paytm parent One 97 Communications for Rs 2,038 crore in block deals, while Elevation Capital and Peak XV Partners also divested about 2.3% in Meesho for Rs 1,949 crore. Shipping & Energy Industry: CBL International says it has regained Nasdaq compliance after meeting the minimum bid price requirement, as it continues marine fuel logistics operations. Construction/Mining Finance: Access Bank (Ghana) signed a financing partnership with Mantrac Ghana to expand equipment and working-capital access for contractors and mining firms. Trade & Diversification: Zimbabwe’s June export data highlights heavy reliance on a few commodities and markets, with a trade mission to Mauritius flagged as a diversification push. Visa & Mobility: Finland confirmed visa-free entry for citizens of only Mauritius and Seychelles among African nations, under Schengen stay rules.

Mauritius AI Push: Mauritius launched a Business AI Adoption and Governance Survey with the Chamber of Commerce and Industry, the Outsourcing and Telecommunications Association, and the Qualifications Authority to track how firms are actually using AI and whether governance and skills are keeping up. Digital Economy Benchmark: A new study flags South Africa as Africa’s most future-ready digital economy, with Mauritius close behind on human capital, while Egypt tops AI readiness. Maritime & Energy Logistics: CBL International says it has regained Nasdaq compliance after meeting the minimum bid price requirement, keeping its marine fuel logistics listing on track. Food Industry & Health Litigation: A global investigation highlights how big food companies are suing governments to block or weaken health rules aimed at reducing unhealthy products on shelves. Deep-Sea Mining Policy: UN seabed talks are weighing responses to the US moving ahead unilaterally on deep-sea mining, with member states pushing for longer processes and accountability. Local Business & Finance: Ocorian research finds family offices plan to raise risk and expand into private capital and private equity, citing transparency and tech-driven returns. Trade & Payments: UPI keeps expanding internationally, with Mauritius listed among countries where the system is available.

AI for Business in Mauritius: Mauritius launched an AI Adoption, Readiness and Governance Survey with the Chamber of Commerce and Industry, the Outsourcing and Telecommunications Association, and the Mauritius Qualifications Authority to measure how firms are actually using AI and whether governance and skills are keeping up. Port & Maritime Security Training: IRClass Academy delivered a three-day Port Facility Security Officer (PFSO) training in Mauritius for port and maritime professionals, with hands-on exercises aimed at strengthening port security preparedness. Finance Hub Policy Talk: A Mauritius-focused commentary argues the country should focus on structural reforms rather than panic over possible foreign rating moves, stressing long-term resilience for investors. Cross-border Payments Momentum: UPI keeps expanding—UPI is now available in Mauritius and other markets, while the Maldives launched a real-time Favara–UPI corridor with India, boosting remittance speed for families. Industry & Trade Signals: A report on Chagos highlights sovereignty and strategic asset concerns in the Indian Ocean, a theme that matters for regional shipping and logistics planning. Regional Business Context: Eswatini is projected to grow faster than most Southern African peers, supported by improved agriculture and macro stabilisation.

Maritime & Ports: IRClass Academy (Indian Register of Shipping) ran a three-day Port Facility Security Officer training in Mauritius for port and maritime professionals, with hands-on drills aimed at strengthening port security readiness. Shipping & Offshore Energy: India’s GRSE won a ₹1,032 crore ONGC contract to build four Platform Supply Vessels, boosting offshore logistics capacity and shipbuilding capability. Finance & Cross-border Payments: UPI keeps expanding—UPI merchant payments are now active in Mauritius and other markets, while the Maldives launched a real-time Favara–UPI corridor with India. Investment & IFSC: Artha Bharat discussed plans to grow global investment business via GIFT City, including expansion into Abu Dhabi, Singapore and Mauritius. Corporate Governance: Zee Entertainment’s promoter warrant fundraise faces regulatory uncertainty after Sebi restrictions, even as shareholders approved the preferential issue. Policy & Migration: Finland confirmed visa-free entry for Mauritius citizens (and Seychelles) under Schengen rules, while U.S. routine visa processing for Nigerians shifts to Lagos from Aug 1. Industry Commentary: A renewed call in Mauritius to act on the Titmuss Report’s socio-economic recommendations.

Maritime & Offshore Energy: Garden Reach Shipbuilders & Engineers (GRSE) secured a Rs 1,032-crore contract from ONGC to build four Platform Supply Vessels, boosting shipbuilding capacity and offshore logistics support. Port & Security Training: IRClass Academy delivered a three-day Port Facility Security Officer (PFSO) training in Mauritius for port and maritime professionals, strengthening local security preparedness. Digital Payments & Remittances: UPI keeps expanding beyond India—UPI is now operational in Mauritius and a real-time Favara–UPI corridor launched between the Maldives and India, enabling instant transfers to UPI-enabled Indian accounts. Corporate & Finance (Mauritius-linked): Capital Group bought about a 1.5% stake in IIFL Finance via Mauritius-linked holdings, highlighting continued cross-border investment flows. Policy & Business Environment: A proposal in India’s corporate law talks about allowing “inward re-domiciliation” (reverse flips) while retaining legal identity—potentially easing moves for India-origin firms. Labour Mobility: Finland confirmed visa-free entry for citizens of Mauritius (and Seychelles) under Schengen rules, supporting travel and skills movement.

Digital Payments & Remittances: India’s UPI keeps expanding internationally, with a real-time Favara-UPI corridor now live between the Maldives and India, letting people send money from Malé to UPI-enabled Indian accounts via two local banks. Mauritius in the Mix: UPI is already operational in Mauritius among a growing list of countries, underlining how Indian payment rails are becoming a regional service for island economies. Port & Maritime Security: IRClass Academy delivered a three-day Port Facility Security Officer (PFSO) training in Mauritius for port and maritime professionals, focused on practical security readiness. Consumer & Retail: Krispy Kreme signed with ER Group to bring the brand to Mauritius, targeting about 10 outlets over five years. Mining & Industry: Alphamin Resources announced a new director appointment and filed its interim financial statements, keeping attention on metals and mining activity linked to the Indian Ocean region. Trade Policy: India’s FTA monitoring committee is set to review how exporters are using existing trade pacts, including the India–Mauritius CECPA.

Digital Payments Expansion: UPI set fresh records in India, with July hitting 23.66 billion transactions worth Rs 29.88 lakh crore (+19% year-on-year), and the system now operates in about 10 countries including Mauritius. Cross-Border Corridor: The Maldives launched a real-time Favara–UPI payment corridor with India, enabling person-to-person transfers in near real time via local banks. Port & Maritime Security: IRClass Academy delivered a three-day Port Facility Security Officer (PFSO) training in Mauritius for port and maritime professionals, supporting stronger port security preparedness. Retail & Consumer Growth: Krispy Kreme signed a deal to open in Mauritius, with the first shop expected later this year and around 10 locations planned over five years. Shipping/Banking Tech for Mauritius: Investec selected Infosys Finacle on Microsoft Azure to modernise banking operations across South Africa, the UK, Mauritius, and Channel Islands. Aviation Infrastructure Watch: Ethiopia postponed contractor selection for Bishoftu International Airport to early 2027, citing financing and bid-prep needs.

Port & Maritime Security: IRClass Academy ran a 3-day Port Facility Security Officer (PFSO) training in Mauritius, boosting practical port-security readiness for local maritime professionals. Cross-border Payments: Maldives launched a real-time Favara–UPI corridor with India; Mauritius is listed among UPI merchant-payment countries, underlining the region’s push for faster digital transfers. Banking Tech for Mauritius: Investec selected Infosys Finacle on Microsoft Azure to modernise banking across South Africa, the UK, Mauritius and Channel Islands—migration from legacy platforms is set to improve efficiency and compliance. Food Retail Expansion: Krispy Kreme signed with ER Group to bring the brand to Mauritius, targeting about 10 outlets over five years. Mining & Value Chains: Mine Entra 2026 in Zimbabwe reported higher foreign exhibitor turnout (including Mauritius) and a focus on “value chains” for mining-led industrialisation. Trade Policy Watch: India’s FTA monitoring committee plans an August review of how exporters use existing trade agreements, including the India–Mauritius CECPA.

Cross-border Payments: The Maldives has gone live with a real-time payment corridor to India after integrating its instant system Favara with UPI, letting people transfer in Maldivian rufiyaa to UPI-enabled Indian bank accounts in seconds via mobile banking (initially through Bank of Maldives and Maldives Islamic Bank). Mauritius Link: UPI merchant payments are already operating in Mauritius, and the new corridor signals more cross-Indian Ocean remittance and consumer-payment growth into the second half of 2026. Port & Maritime Security (Mauritius): IRClass Academy delivered a three-day Port Facility Security Officer (PFSO) training in Mauritius for port and maritime professionals, boosting practical readiness for international security requirements. Retail Expansion (Mauritius): Krispy Kreme signed to bring its franchise model to Mauritius, targeting about 10 outlets over five years. Mining & Value Chains (region): Zimbabwe’s Mine Entra 2026 is underway with higher exhibitor numbers and a focus on mining value chains, with Mauritius listed among foreign exhibitors. Finance & Tech (Mauritius-facing): Investec selected Infosys Finacle on Microsoft Azure to modernise banking across South Africa, the UK, Mauritius and Channel Islands. Shipping Environment: Kenya Ports Authority warns Middle East conflict rerouting is increasing underwater ocean noise risk across the Western Indian Ocean, including Mauritius.

Port Security Training in Mauritius: IRClass Academy (Indian Register of Shipping) ran a three-day Port Facility Security Officer (PFSO) training in Mauritius, with hands-on workshops for port and maritime professionals, backed by Mauritius Freeport Development Company. Maritime & Finance Tech for the Region: Infosys Finacle selected by Investec to modernise banking across South Africa, the UK, Mauritius and Channel Islands on Microsoft Azure, while Seychelles fintech Fusepay launched Fuse360, an AI-native operating system for trade businesses, with Mauritius entry planned for September. Mining Value-Chain Push: Zimbabwe’s Mine Entra 2026 opened in Bulawayo under “Unearth, Transform, Prosper,” reporting higher foreign exhibitor numbers including Mauritius, as the region pushes beneficiation and stronger supply chains. Mauritius as an African Capital-Market Hub: A new Africa-focused credit rating agency is set to launch in Mauritius on Oct. 6, aiming to add more locally rooted ratings amid concerns about global “big three” bias and reduced competition. Consumer & Retail Expansion: Krispy Kreme signed with ER Group to bring the brand to Mauritius, targeting about 10 outlets over five years. Trade Facilitation Watch: India’s FTA monitoring committee will review how exporters are using operational trade pacts, including India–Mauritius CECPA, and what blocks utilisation.

Mauritius-India finance ties: Investec is set to modernise banking operations across South Africa, the UK, Mauritius and the Channel Islands using Infosys Finacle on Microsoft Azure, as the bank migrates from legacy platforms to a multi-country Finacle SaaS setup. Retail expansion: Krispy Kreme has signed with ER Group to bring the doughnut chain to Mauritius, with the first shop expected to open later this year and about 10 locations planned over five years. Mining & industry links: Mine Entra 2026 in Zimbabwe is reporting higher foreign participation, including Mauritius among the foreign exhibitors, as the expo pushes mining value chains and industrial collaboration. Regional credit ratings: The African Peer Review Mechanism says a new Africa-focused credit rating agency is due to launch on Oct. 6 in Mauritius, aiming to add more locally rooted ratings perspectives. Digital payments for trade: Seychelles fintech Fusepay launched Fuse360, an AI-native operating and financial system for wholesalers and distributors, with entry into Mauritius scheduled for September. Shipping & marine impact: Underwater noise from rising shipping is flagged as a growing threat to marine life across the Western Indian Ocean, including Mauritius waters.