AGP Executive Report

Deep-Sea Mining: Mauritius joined Mozambique and the Republic of the Congo in backing a precautionary pause on deep-seabed mining at the ISA meeting in Kingston, Jamaica, arguing decisions must follow best available science and a precautionary approach. Regional Industry & Trade: Ahead of South Africa’s SADC chair start, the bloc is pushing resilient, inclusive industrialisation through infrastructure, agricultural transformation and critical minerals—while a new assessment says progress is uneven, with jobs and growth still lagging. Mauritius Business & Finance: An AfDB-backed Mauritius report urges the island to mobilise development financing at scale to tackle structural bottlenecks in skills, ageing, and gaps in water, energy and port logistics. Cross-Border Payments: South Africa’s TurnStay says it has processed over R1bn in travel payments in the first half of 2026, highlighting faster, lower-cost billing for hotels and travel firms across Africa. Crypto Regulation Spillover: Kenya’s new minimum-capital crypto rules are pushing some startups to consider relocating operations to Mauritius or South Africa. Fiduciary Services: Osiris Group expands into Guernsey after securing licences, adding a Channel Islands base alongside its Mauritius operations. Business Forum: The Mauritius–Madagascar business forum opened in Antananarivo with over 50 firms spanning agriculture, construction, energy, mining, logistics, finance, textiles and ICT.

Mauritius–Madagascar Trade: The Moris Mada Business Connect Summit opened in Antananarivo with 50+ Mauritius and Malagasy firms across sectors like agriculture, construction, energy, mining, logistics, textiles, and fintech, aiming to unlock new partnerships. SADC Industrial Push: SADC leaders met in Durban as Executive Secretary Elias Magosi urged the bloc to be more self-reliant and deepen regional integration amid weak growth, youth unemployment, and incomplete implementation of commitments. Banking & Finance: Standard Bank Group reported a 10% rise in headline earnings for the six months to June 2026, with its Africa Regions franchise contributing N$10.4bn (40% of group earnings), including Mauritius among top contributors. Digital Payments & Cross-Border Money: RBI Governor Sanjay Malhotra said BRICS is discussing links between fast-payment systems and CBDCs to cut costs and speed up retail cross-border transfers, with Mauritius already part of India’s local-currency MoUs. Cybersecurity Risk: INTERPOL warned that AI is involved in 55% of African cybercrime cases, while only 8% of intelligence analysts have advanced skills—raising pressure on regional financial and telecom defenses. Crypto Regulation Spillover: Kenyan crypto startups are weighing moves to Mauritius or South Africa after new minimum capital rules, which founders say could price smaller firms out of the market. Deep-Sea Mining Pause: Mauritius joined Mozambique and the Republic of the Congo in supporting a precautionary pause on deep-seabed mining, bringing African backers to six.

SADC Chairship Push: South Africa takes over the SADC chair for 2026/27, with Durban set to host the 46th Summit on 17 August, aiming to speed up regional industrialisation, trade and infrastructure links while tackling peace, security and migration pressures. Mauritius Development Finance: An AfDB report and a Mauritius productivity study urge the island to mobilise development financing at scale, citing growth headwinds from skills mismatches, ageing, and gaps in water, energy and port logistics. Mauritius–Madagascar Trade: The Moris Mada Business Connect Summit opened in Antananarivo with 50+ firms from both countries across agriculture, construction, energy, mining, logistics, finance, health, tourism and digital innovation. Deep-sea Mining Moratorium: Mauritius joined more African states backing a precautionary pause on deep-seabed mining, stressing ocean health and the need for best-available science. Digital Payments & Cross-border Links: RBI Governor Sanjay Malhotra says BRICS is exploring links between fast payment systems and CBDCs to cut cross-border costs and speed up remittances, with Mauritius already included in local-currency MoUs. Cotton & Textiles Resilience: Coverage highlights how erratic weather threatens African cotton—the raw base of the textile value chain—while pointing to new solutions to keep garment exports competitive. Club Med UK Strategy: Club Med’s new UK managing director says more trade fam trips and digital upgrades will support sales, including sun-destination push. Crypto Rules Watch: Kenya’s new crypto compliance capital requirements are pressuring startups, with some looking toward South Africa and Mauritius for room to scale. Business & Industry Finance: Behari Lal Engineering’s Rs 302-crore IPO continues with strong grey-market signals; anchor funding and subscription progress point to a potentially solid listing.

Development Finance & Growth: The AfDB’s 2026 Mauritius Country Focus Report flags a development financing gap and structural bottlenecks—skills mismatches, ageing, and water/energy and port logistics deficits—while projecting growth at 3% in 2026 before 3.8% in 2027. Deep-Sea Mining Moratorium: Mauritius joined Mozambique and the Republic of the Congo in backing a precautionary pause on deep-seabed mining at the ISA, stressing decisions must follow best available science and the precautionary approach. Mauritius as a Regional Finance Hub: ETL Global adds Fideco Global Business Services as its Mauritius contact point, while Mauritius’ Minister for Industry, SME and Cooperatives says GIFT City family offices can route investments through Mauritius into Africa via SADC/COMESA and treaty access. Digital Trust & Governance: Blockchain for Good Alliance and Bybit took part in the Mauritius Internet Governance Forum, pushing blockchain and AI for secure digital trust in small island states. Energy/Industry Linkages: SADC leaders call for deeper regional integration and self-reliance as global aid declines, with emphasis on energy and digital connectivity. Capital Markets Watch: Behari Lal Engineering’s Rs 302-crore IPO shows strong early demand, with anchor funding and a likely listing on Aug 19.

Mauritius–India Trade & Investment Links: Mauritius Industry Minister Jyoti Jeetun’s push for investor clarity and a wider India–Mauritius trade push is echoed by reports that family offices from GIFT City can route investments through Mauritius into Africa, leveraging SADC/COMESA access and double-tax treaties. SADC Industrialisation Drive: South Africa’s 2026/27 Sadc chair aims to accelerate regional industrialisation, boost intra-bloc trade, and improve infrastructure links as global aid declines and security pressures rise. Golden Visa Momentum: A continent-wide surge in golden visa and residency-by-investment schemes continues after EU investor-citizenship changes, with Mauritius cited among active frameworks. Cross-Border Payments Reform: RBI Governor Sanjay Malhotra says BRICS is exploring links between fast payment systems and CBDCs to cut costs and speed remittances, naming UPI as the benchmark. Mauritius Business Network Growth: ETL Global adds Fideco Global Business Services as its Mauritius contact point, strengthening corporate administration and market-entry support. Digital Trust in Mauritius: Blockchain for Good Alliance and Bybit joined the Mauritius Internet Governance Forum to advance AI, cybersecurity, and digital trust for small island states.

Digital Finance & Payments: RBI Governor Sanjay Malhotra says BRICS members are discussing links between fast payment systems and CBDCs to cut cross-border remittance costs and speed up settlement, pointing to UPI’s near-instant model and noting Mauritius is among countries in India’s local-currency MoUs. Regional Integration & Energy: SADC executive secretary Elias Magosi warns the bloc must become more self-reliant and deepen co-operation as global aid declines, while citing progress on new generation capacity and ongoing electricity access gaps. Mauritius Business & Services: ETL Global adds Fideco Global Business Services as its Mauritius contact point, aiming to help clients with company administration, trusteeship, accounting and tax matters. Digital Trust in Mauritius: Blockchain for Good Alliance and Bybit took part in the Mauritius Internet Governance Forum, focusing on AI, cybersecurity and trust for small island states. Maritime Security: Indian Navy chief Krishna Swaminathan begins a four-day Mauritius visit to deepen maritime ties. Corporate/Markets Watch: Zee Entertainment seeks clarity from SEBI and challenges its two-month market ban at SAT over a proposed promoter-linked fundraise; meanwhile Krispy Kreme reports a turnaround with revenue down but adjusted EBITDA up.

Digital Payments for Trade: RBI Governor Sanjay Malhotra says BRICS is discussing linking CBDCs and fast payment systems to cut the cost and speed up cross-border remittances, pointing to UPI’s near-instant settlement as the benchmark. Mauritius as a Payments Link: UPI is already live in Mauritius among other countries, reinforcing the island’s role in regional financial connectivity. Mauritius-India Tax Clarity: Mauritius Cabinet has approved ratification of the India–Mauritius DTAA Protocol with a principal purpose test to curb treaty shopping, with the minister stressing it targets abuse, not genuine investors. Business Services in Mauritius: ETL Global adds Fideco Global Business Services as its Mauritius contact point, expanding corporate administration and trustee/accounting support for international clients. Maritime Security Ties: Indian Navy chiefs begin a four-day Mauritius visit to deepen defence cooperation, including joint EEZ surveillance and capacity building. Regional Trade Facilitation: SADC moves to simplify border procedures for small traders under its Simplified Trade Regime, with Mauritius listed among member states. Industry & Governance Watch: A Mauritius editorial flags the drug crisis as a broader strategy issue after a high-profile arrest and related questions on safeguards.

Mauritius–India Finance Link: Mauritius Industry, SME and Cooperatives Minister Jyoti Jeetun says the Cabinet has ratified the India–Mauritius DTAA protocol, adding the principal purpose test to curb treaty shopping—while assuring genuine investors real-economy activity won’t be hit. GIFT City to Africa Route: Mauritius is positioning itself as a gateway for Indian family offices from GIFT City to invest into Africa via Mauritius, leveraging COMESA/SADC access and double-tax treaties, with an industry bill expected to support the flow. Payments Policy Watch: India’s government clarified UPI stays free for consumers, even as policy discussions point to possible future merchant charges. Maritime Security: Indian Navy Chief Admiral Krishna Swaminathan begins a four-day Mauritius visit to deepen maritime cooperation, including EEZ surveillance, capacity building and defence collaboration. Trade Facilitation: SADC moves to simplify border procedures under a simplified trade regime, naming Mauritius among member states to cut costs for small traders. Drug Crisis Focus: A Mauritius editorial calls for a broader, rule-of-law approach after a high-profile drug-related arrest and political fallout.

Mauritius as an Africa gateway: Mauritius Industry, SME and Cooperatives Minister Sayed Muhammad Aadil Ameer Meea says family offices from India’s GIFT City can route investments through Mauritius to access Africa via SADC/COMESA, supported by double-tax treaties and a new industry bill expected in Parliament. Tax framework update: Mauritius Cabinet has approved ratification of the India–Mauritius DTAA Protocol introducing the principal purpose test (PPT), with the minister stressing it targets treaty abuse, not genuine investors. UPI and payments reach: Government clarifications say UPI stays free for consumers, while July data shows UPI processed Rs 29.9 lakh crore across 23+ billion transactions, including availability in Mauritius. Maritime security ties: Indian Navy Chief Admiral Krishna Swaminathan begins a four-day Mauritius visit focused on maritime security, defence cooperation, capacity building and joint EEZ surveillance. Trade facilitation: SADC moves to simplify border procedures under its Simplified Trade Regime to cut costs for small-scale traders, including Mauritius. Construction & mining finance: Access Bank (Ghana) signs a financing partnership with Mantrac Ghana to expand equipment and working-capital access for contractors and mining firms. Proton eMas export push: Proton signs a distributorship agreement with David Pieris Holdings to sell eMas in Sri Lanka, with Mauritius listed among existing export markets.

Mauritius-India Tax & Investment: Mauritius Cabinet has approved ratification of the India–Mauritius DTAA Protocol, adding the principal purpose test (PPT) anti-abuse rule; Finance Minister Jyoti Jeetun says it targets treaty shopping while protecting genuine investors and real economic activity. Maritime Security: Indian Navy Chief Admiral Krishna Swaminathan begins a four-day Mauritius visit to deepen defence ties, with talks on maritime security, capacity building and cooperation including joint EEZ surveillance and port/hydrographic activities. Regional Trade Facilitation: SADC is pushing a Simplified Trade Regime to cut border friction and costs for small-scale traders, with relaxed origin rules and simplified customs procedures—Mauritius is listed among member states. Business & Finance Appointments: Base Markets (EBENE) appoints Nazim Moussaoui as Head of Premium Clients and Partnerships, signalling expansion in premium client relationships. Automotive Exports: Proton e.MAS export sales expand to Sri Lanka via David Pieris Holdings, leveraging in-house finance and logistics. Industry Governance & Nature Risk: A report warns directors across Africa could face fiduciary duties liability if they fail to manage nature-related risks like biodiversity loss and water scarcity.

Mauritius–India Tax Rules: Mauritius says the India–Mauritius DTAA Protocol ratified on July 17 introduces the principal purpose test (PPT) to curb treaty shopping, and Minister Jyoti Jeetun insists it should not worry genuine investors doing real business on the island. Regulatory Leadership: India extended Enforcement Directorate (ED) Director Rahul Navin’s tenure by one year to August 13, 2027, keeping focus on international taxation and money-laundering coordination. FDI Push: India is considering lifting the Cabinet approval threshold for large FDI from Rs 5,000 crore to Rs 15,000 crore to speed up inflows and ease doing business. Payments for Trade: UPI processed Rs 29.9 lakh crore in July 2026 and is now live in Mauritius and other countries, supporting cross-border consumer payments. Trade & Exports: India’s new free trade agreements are being pitched as a boost for agriculture, agro-processing, textiles, engineering and chemicals—explicitly including Mauritius in the wider FTA network. Industry Finance: Mauritius-linked investors feature in India’s LEAP India IPO anchor book, while India also holds talks with foreign portfolio investors on tax and trading-cost relief.

Digital Payments: UPI processed Rs 29.9 lakh crore across 23+ billion transactions in July, and the system is now live in 11 countries including Mauritius—good news for cross-border commerce and consumer payments. Trade & Industry Links: India’s Commerce Minister Piyush Goyal says new FTAs are opening global market access for sectors like agriculture, agro-processing, textiles, engineering and chemicals, with Mauritius named among partner economies. Foreign Investor Push: India’s government and Sebi met foreign portfolio investors to address concerns on taxation and trading costs, including calls for LTCG relief and lower STT rates. Finance & Capital Markets: LEAP India’s IPO raised Rs 743.6 crore from anchor investors ahead of its public offer, while Paytm shares rose after a Rs 2,038-crore block deal involving Mauritius-linked entities. Regional Integration: SADC’s 46th summit is set for Durban, with Mauritius listed among member states as leaders focus on industrialisation, infrastructure and food security. Energy & Infrastructure: Pace Digitek reported strong Q1 FY27 growth and expanded BESS manufacturing capacity to 5 GWh, supporting storage for energy and telecom projects.

Trade & Exports: India’s Commerce Minister Piyush Goyal says new free trade agreements are opening “doors” for exporters, citing opportunities for agriculture, agro-processing, textiles, leather, footwear, engineering, chemicals and pharma—and noting Mauritius is among the partner markets in the expanding FTA network. Regional Integration: Goyal also framed the same trade pacts as a “direct line” for Arunachal Pradesh farmers, metal producers and manufacturers to reach global buyers. Finance & Markets: India’s government and Sebi are meeting foreign portfolio investors to address concerns around taxation and trading costs, including calls for LTCG relief and lower STT. Energy & Industry: Diageo reports Africa-led growth ahead of its $2.3bn sale process to Asahi, while Pace Digitek highlights BESS manufacturing capacity expansion to 5 GWh. Digital Infrastructure: Macquarie Asset Management completes acquisition of IHS Towers’ South America operations, adding thousands of wireless sites in Brazil and Colombia. Mauritius Link: A Mauritius-based Regulus Liquidity CEO is set to speak at Money Expo India 2026, underscoring the island’s role in cross-border finance.

Securities & Capital Flows: India’s government and Sebi held talks with foreign portfolio investors to bring overseas money back, with FPIs pushing for LTCG tax relief on listed securities and lower Securities Transaction Tax, amid heavy 2026 foreign outflows. IPO Watch: LEAP India’s anchor book raised Rs 743.6 crore from 32 investors ahead of its 7–11 August public offer, with GMP pointing to a potential listing gain. Energy & Industry: Pace Digitek reported Q1 FY27 revenue up 51.3% to INR 555.4 crore, profit up 14.3%, and expanded BESS manufacturing capacity to 5 GWh. Digital Infrastructure: Macquarie Asset Management completed its acquisition of IHS Towers’ South America operations, adding 8,700+ sites in Brazil and 250 in Colombia. Trade Links: India’s new trade agreements include Mauritius, aiming to open wider global market access for farmers and manufacturers. Mauritius Angle: A Mauritius-based FII booking partial profit helped lift Paytm shares after a Rs 2,038-crore block deal. Regional Governance: SADC’s 46th summit in Durban will focus on industrialisation, infrastructure, food security and integration, with Mauritius among member states. Cybersecurity: Interpol flagged South Africa as Africa’s ransomware hotspot, while Mauritius ranks high for phishing detections.

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.