Mauritius: Latest News
Dana Sanchez, 3:06 pm
Much of the current real estate investment in Africa is undertaken by private equity funds. Several other investor types are deterred and largely absent due to legislative restrictions, risks around money laundering and the inward-looking nature of African markets. Overseas pension funds, for example, held back because of legislative restrictions and only sought exposure to certain African markets once these were lifted.
Namibia has several thousand shipwrecks along its almost-1000-mile coast. Getting there requires a huge effort, and visitors are restricted to around 800 a year to preserve the fragile environment. See why this is a terrible place for sailors, then check out the best wreck dives in Africa, and learn how Namibia has revolutionized tourism.
Dana Sanchez, 1:40 pm
Eight other countries in Africa besides SA will have radio telescopes contributing to the Square Kilometre Array network. The SKA will outperform the most advanced modern instruments in exploring exploding stars, black holes, dark energy and traces of the universe’s origins 14 billion years back. It’s the first time African countries are hosting global science infrastructure of this scope. South Africa will become home to the most powerful instrument ever used in radio astronomy when SKA is fully operational.
Julia Austin, 2:18 pm AFKI Original
San Francisco-based Zoosk has a presence in most African countries, and ranks high in popularity in the large cities targeted by online dating apps. The app ranks No. 7 in Egypt as the highest-grossing app on iPad, No. 4 in Algeria, No. 3 in Kenya, and No. 2 in South Africa. Zoosk’s co-founders met as undergrads at a tech university in Iran and traveled to the U.S. to attend grad school.
Lillian Mutiso, 4:47 am AFKI Original
Africa is known for its vast potential of mineral resources. It is a great investment destination for foreign business organization from across the world. Investors’ desire to do business on the continent depends largely on the ease of company registration with regard to meeting legal and regulatory demands. According to the World Bank’s Ease of Doing Business Index, a transparent and smooth registration process woos investors to any nation.
Staff, 12:11 am
The African Union is set to launch a common electronic passport that would grant visa-free travel to all of its 54 member states. Statelessness is a particular concern. Millions of Africans lack official documentation of nationality, though its hard to estimate how many are stateless. In some countries, access to citizenship is difficult because of rules limiting rights for children of foreigners, racial, ethnic and gender discrimination and lack of accommodation for a nomadic lifestyle.
Dana Sanchez, 11:56 am
MTN making a bid to buy Barclays Africa assets might sound far-fetched and ridiculous – but an MTN bank with operations in 14 African countries would shake up both the cellular and financial services industries. MTN has a track record in integrating big assets. Two new hires at MTN include top-ranking executives with heavy banking experience. Building its own fintech solutions would be expensive for MTN. The trend is for fintech startups to partner with banks rather than telecoms.
Dana Sanchez, 12:21 pm
Barclays Africa said it plans to raise $88 million US to fund loans for small and medium enterprises as part of its growth strategy at a time when U.K.-based parent Barclays plc is selling down its stake in the group. The idea is to raise funds and make loans at attractive rates. Sub-Saharan Africa, home to some of the world’s poorest people, has some of the highest interest rates in the world, offering high rates of return for investors. Barclays corporate lending is up in Africa. The bank’s strategy for shared growth is not philanthropy. It’s business, its CEO said.
Dana Sanchez, 8:51 am
The Mauritius government expects foreign direct investment to increase as much as 46 percent in 2016 based on projects that have already been secured. The U.K.’s decision to leave the European Union may hurt or help that projection. The U.K. is the No. 3 source of real estate investment in Mauritius. UAE is No. 2 and France is No. 1. With the renegotiated Mauritius-India tax treaty, Mauritius is still a great holiday destination, just not to dodge taxes in India, an Indian publication reports.
Dana Sanchez, 10:54 pm
Nigeria and Angola, the two African countries hit hardest by falling oil prices, have the highest number of hotels in the development pipeline this year. Zimbabwe-listed hospitality group African Sun laid off nearly 250 employees citing dwindling tourist numbers, lower room rates and the country’s deteriorating economic environment. About a third of the hotel deals signed between 2009 and 2013 haven’t materialized, mainly due to lack of financing. Carlson Rezidor is one that’s delivering.
- Real Estate