The latest report from the Economic Development Board (EDB) looked at the contribution of the Mauritian financial center to massively generating jobs, even economic wealth, in Africa. More than 4 million jobs created via Mauritius.

The report launched by the Minister of Finance, Renganaden Padayachy on Tuesday, underlines that the Mauritian jurisdiction will have led to the creation of billions of dollars of wealth in Africa through foreign investments which have passed through its financial center. The Capital Economics study states that the number of jobs generated amounts to three times the population of Mauritius, or 0.6% of the total labor market in Africa. The beneficiaries are Kenya, Nigeria, Tanzania, South Africa and Côte d'Ivoire. Entitled Facilitating Growth, Employment & Property in Africa, the report highlights, foreign direct investment landing in Africa and passing through Mauritian jurisdiction represents a total amount of USD 82 billion. While pointing out that Mauritius ranks far ahead of Canada, Ireland and the United States in its commitments to combat money laundering and terrorist financing, the report notes that additional private investment of USD 350 billion will be required. in Africa by 2030, in line with the United Nations Sustainable Development Goals.

The report notes a number of countries that have benefited from the jobs created from investments passing through Mauritian jurisdiction. Among them, Kenya where 1.6 million jobs have been generated; Nigeria, (470,000), Tanzania (250,000), South Africa (240,000), Côte d'Ivoire (200,000); and Cameroon, Ethiopia and Ghana with 120,000 jobs each. In percentage of jobs created, Kenya ranks first with 4.4%, followed by Namibia (3.6%, 40 million), Botswana (1.8%, 20 million). The creation of 4.2 million jobs has promoted USD 30 billion of additional GDP in the form of purchasing power of the population of African economies. On the other hand, Capital Economics confirms in this report the previous conclusions of the OECD that Mauritius fully subscribes to international tax standards and wants to be transparent on the issue like France.