The Weekly Brief
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Weekly Business Update · 19 October 2026
Unrest and curfew: first economic assessment
After protests over the cost of living and water cuts, riots broke out on 13-14 October, with a night curfew in several regions, extended until this Monday morning (relaxed hours of 10pm-4:30am in 17 regions). Business Mauritius puts direct costs between Rs 270 and 470 M: about fifteen businesses damaged or looted, around 17,450 tonnes of cane burned (Rs 15-18 M), Rs 2.2 M of damage at banks. The airport and port remained accessible. SMEs (mainly restaurants) report lower activity and complex insurance procedures. For founders: check insurance and claims, anticipate the image effect ahead of high season.
IMF: 2026 growth cut to 2.7%
Outlook of 13 October (2.8% in July). Inflation expected at 4.7% in 2026 then 5.5% in 2027. Statistics Mauritius remains at 3%: diverging forecasts, so stay cautious on 2027 volume assumptions.
FX: the BoM sells dollars again
Intervention of USD 15 M on 15 October at Rs 47.30/USD, after the one on 5 October (Rs 47.55). The dollar gained 1.4% against the rupee in September; the euro and the pound lost about 1% each over the month. Worth watching for any large conversion.
Tourism: one million arrivals passed
1,042,241 visitors from January to September (+3.4%), 114,506 in September (+9.6%). France leads (226,429). Receipts from January to August: Rs 74.6 bn (+18.35%). Point of attention: high season starts while the country's image is exposed; bookings are holding according to Beachcomber, but no post-unrest figures have been published yet.
East Africa: the EDB continues its missions
Nairobi (education, financial services, ICT): higher education fair with 11 institutions and 440 students, round table with 6 agencies, B2B meetings between Mauritian ICT firms (NVision IT, Realign Consulting, AIMIT) and about 22 Kenyan companies. Relevant for any services or tech company targeting East Africa.
Reminder: EU-ESA EPA
The strengthened agreement signed at Balaclava on 10 June gives Mauritius, Madagascar, Comoros and Seychelles access to more than 450 M European consumers, and also covers services, investment, e-commerce and public procurement. Article published this week; the agreement is not new.
Energy: tenders to follow
NTPC launched an EPC tender for a 15 MW floating solar project with 60 MWh storage. In parallel, the CEB wind + battery tender (15-20 MW): bidders meeting on 28 October, bids until 9 December.
(1) assess the impact of the unrest on your business and file claims quickly; watch the effect on high season. (2) Inflation and FX: the BoM keeps intervening, build room for cost and currency movements. (3) Dates to block: 28 October (CEB meeting), 6-9 December (US-Africa Business Summit).
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Weekly Business Update · 12 October 2026
Inflation at 5.7% in September, the BoM steps in again on FX, the AfCRA launched in Port Louis and the US-Africa Business Summit confirmed for December.
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Inflation: 5.7% in September
Year-on-year at 5.7% (4.9% in August, 4.4% in Sept. 2025), driven by fuel (transport +1.8% on the month) and food. The 12-month average is 4.1%. For founders: import, transport and wage costs under pressure, to be factored into year-end budgets and prices.
FX: the Bank of Mauritius intervenes again
New sale of USD 15 M on 5 October at Rs 47.55/USD (market: Rs 48.25 USD, Rs 53.94 EUR, Rs 63.74 GBP). 8th intervention this year, USD 110 M in total. The pace is picking up: caution for companies converting significant EUR/USD to MUR amounts.
Africa Credit Rating Agency launched in Mauritius
The African Union officially launched its first continental rating agency on 7 October, headquartered in Port Louis. Goal: an alternative to the "Big Three" and a fairer African borrowing cost. Strengthens Mauritius' role as a financial services platform for Africa.
US-Africa Business Summit: 6 to 9 December in Mauritius
The Prime Minister received the CEO of the Corporate Council on Africa on 9 October. About 2,500 delegates expected, including heads of state, ministers and a US delegation. Stated goal: make Mauritius the gateway for US investors into Africa. A networking and deal-flow event to plan for now (date differs from the one announced by the EDB in spring).
World Bank: a plan to revive growth
Report launched on 7 October. Three priorities: institutions and business environment, infrastructure and skills, innovation. A reform programme could add 5.2% of GDP by 2035 (World Bank estimate, not a firm forecast).
Tourism: 957,961 arrivals from January to mid-September
Slightly above 2025. Year-end bookings encouraging despite geopolitical uncertainty and air transport costs. Quoted annual target: 1.47 M visitors.
Energy: national electricity-saving campaign
Approved by Cabinet on 9 October, running October to April: target -5 MW on the evening peak. Risk of grid strain this summer; self-generation and storage gain value. The CEB wind + battery tender (15-20 MW) remains open: bidders meeting 28 October, bids until 9 December.
La Réunion: attractiveness strategy
First economic convention on 1 October: 12,000 businesses supported since 2021, EUR 115 M mobilised, "Act II" through 2030. A neighbouring market backed by France/EU: an expansion lead.
(1) inflation 5.7% and an active BoM on FX: review cost assumptions and currency hedging. (2) Block the dates: AfCRA launched, US-Africa Summit 6-9 December, CEB meeting 28 October. (3) 2026 growth revised to 2.8-3%: caution on 2027 volumes.
Weekly Business Update · 5 October 2026
2023 GDP revised upward, AGOA extended to end-2028, new Finance Act rules in force and a CEB wind + storage tender.
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GDP revised upward, growth slowing
Statistics Mauritius moves the base year from 2018 to 2023: 2023 GDP raised from Rs 637 bn to Rs 695.2 bn (+9.1%), through better measurement rather than real growth. 2024 growth cut from 4.9% to 4.2%, 2025 raised from 3.2% to 3.5%, 2026 expected at 3%. Investment would fall 1.1% in real terms in 2026 (private -0.8%, public -2.3%). For founders: a bigger economy on paper, but softer demand and investment.
AGOA extended to end-2028
The Cabinet meeting of 2 October approved the extension of preferential access to the US market (textiles, sugar, manufactured goods). Mauritius is also exploring a bilateral trade agreement with Washington to secure the post-2028 period. Two years of visibility for exporters.
Africa Credit Rating Agency launches in Port Louis
The African Union's rating agency, headquartered in Mauritius, launches on 7 October. APRM estimates the African market at around USD 4,000 bn, with under 5% of instruments rated. A strong signal for Mauritius' positioning as a financial services platform, useful for issuers, funds and financing structures.
Finance Act 2026: new rules in force since 1 October
Rs 2 tax on plastic bottles, 5% tax on general insurance premiums (monthly payment to the MRA), proof of origin of funds for imports over Rs 500,000, ceiling for minor fines raised from Rs 4,000 to Rs 100,000. New IR brackets: first Rs 500,000 exempt, then 10%, 20%, 35%. Check accounting and imports this month.
Tourism: +2.7% over 8 months, August sharply up
927,735 visitors from January to August (903,606 in 2025). August: 123,102 arrivals, +18%. Asia +29.6%, Germany +15.8%, India +14.2%, but UK -11.8% and La Réunion -5%. Annual target of 1.4 M visitors in sight. Factor in for hospitality, short-term rentals and visitor services: the customer mix is shifting to Asia and Germany.
Energy: CEB wind + storage tender
The CEB seeks 15 to 20 MW of wind with batteries at Plaine-des-Roches. Bidders meeting and site visit on 28 October, bids by 9 December at 1:30 pm. A direct opportunity for developers, EPCs and storage suppliers, and a sign the mix no longer relies solely on solar PV.
Inflation rising, cost of public debt falling
Inflation at 4.9% in August (4.4% in July, 3.7% in June, 4.4% in September 2025). Government securities outstanding reach Rs 535.6 bn at end-August (+10.4% year on year, i.e. 66.9% of forecast GDP). Average Treasury bill yield: 4.12% in August, 4.02% on September auctions; bonds 4.79%. Financing easing slightly, but public debt keeps growing.
(1) growth at 3% and investment falling: be prudent on 2027 volume assumptions. (2) Review the Finance Act impact now (insurance, imports, fines). (3) To seize: AfCRA on 7 October for finance, CEB tender with meeting on 28 October for energy.
Weekly Brief · 2 October 2026
2026 growth held at 2.8%, dynamic bank credit, a Rs 634 bn investment pipeline and a new base year for national accounts.
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more moderate growth
The BoM keeps its 2026 growth forecast at 2.8%. Tourism and financial services remain the main drivers, while construction and industry are weaker.
banks keep lending
Bank credit was up 7.8% year on year at end-June: +11.2% for households and +5% for businesses. The BoM considers the banking system broadly well capitalised and liquid.
still a topic to watch
The currency market remains tight despite improved availability. Over January-26 August, currency purchases reached USD 5.16 bn against USD 5.06 bn of sales; the BoM had injected USD 65 M since the start of the year. For those with EUR/USD to MUR flows, the topic remains important.
Real estate & green finance
Oficea raised Rs 3.4 bn via a sustainable bond issue, 1.5x oversubscribed. Part will fund The Grid at Telfair/Moka, targeting LEED certification. An interesting signal on the growing depth of the Mauritian bond market for financing real estate.
more business to come?
The EDB and the EU want to strengthen investment and B2B relations, notably by making better use of the new EU-ESA4 economic agreement. Worth following for those using Mauritius as a platform between Europe and Africa.
a very large pipeline
The EDB counts 512 active private projects worth Rs 634 bn, in real estate, tourism, health, renewables, logistics, agro-industry, blue economy and manufacturing. It gives a good idea of the sectors where activity should stay concentrated.
On the statistics side
Statistics Mauritius has just revised its national accounts methodology with 2023 as the new base year and better coverage of Global Business Companies in particular. Be careful with direct comparisons against older GDP series.
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Weekly Brief · week of 21–25 September 2026
Maersk tipped for cargo handling, private healthcare inquiry, DMT Tax, EDB mission to East Africa and Finance Act 2026 being applied.
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Useful signals this week for those who build, invest or grow businesses in Mauritius 👇
Maersk could take over cargo handling in Port Louis
Negotiations are said to be well advanced to bring Maersk into port cargo-handling operations in Mauritius. Potentially significant for logistics costs, lead times and import/export competitiveness.
Competition Commission market inquiry
The Competition Commission is continuing its inquiry into the private healthcare market and is now looking for an independent medical expert. Worth following for insurers, employers and healthcare players.
DMT Tax / Pillar Two
The MRA published a statement on 22 September on the transitional status of the Domestic Minimum Top-up Tax. A topic to review for international groups and Mauritian structures affected by the global minimum tax.
business mission this week
The EDB is on mission from 21 to 25 September in Ethiopia, Tanzania and Kenya, focusing on Financial Services, ICT / Emerging Tech and Education. A good signal for those using Mauritius as a regional development platform.
operational rollout
The MRA keeps publishing Finance Act 2026 application measures, notably on VAT and customs procedures. Worth monitoring for companies that import or have significant operating costs in Mauritius.
the EDB pushes project acceleration
The EDB says it recently unblocked 5 projects worth MUR 13.7 bn, while 15 other projects worth MUR 15.9 bn remain in administrative facilitation. The real challenge remains execution and permits.
Key takeaways The common thread is fairly clear: Mauritius keeps pushing its positioning as a regional business platform, but the very concrete topics remain execution - logistics, regulation, tax and administrative timelines.
Have a great end of week, everyone 👋
Weekly Business Update · 18 September 2026
Mauritius pushes its role as a hub to Africa, Rs 29.6 bn of projects tracked by the EDB, inflation at 4.9% and a new FX intervention by the central bank.
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Mauritius clearly pushes its hub role to Africa
The EDB is on mission from 21 to 25 September in Ethiopia, Tanzania and Kenya, targeting tech/ICT, financial services and education. For Mauritian entrepreneurs, an interesting signal: East Africa (260 M+ people) is becoming a priority trade axis.
Rs 29.6 bn of projects tracked by the EDB
Of 20 recently reviewed projects, 5 worth Rs 13.7 bn were unblocked over the past two months and 15 more, worth Rs 15.9 bn, are still being helped to obtain permits and licences. A good indicator of investment activity, but also of the administrative hurdles that remain.
Inflation to watch
Annual inflation reached 4.9% in August. The Bank of Mauritius holds its key rate at 4.75% and expects around 5% inflation over 2026: financing still relatively expensive and vigilance needed on costs/imports.
FX: the central bank intervenes again
A new Bank of Mauritius intervention on the currency market on 3 September, after those in June. Keep in mind for companies that need to convert significant EUR/USD to MUR amounts.
Tourism: modest growth but dynamic new markets
668,471 tourists in H1 2026, only +1.5% year on year. But Germany +13.4%, India +11.9%, while the UK falls 16%: interesting for hospitality, short-term rentals and services targeting international visitors.
Solar energy opportunities
The CEB is speeding up schemes allowing businesses to produce their own solar power, with a national target of 60% renewables by 2035. For businesses with heavy electricity needs, self-generation and storage are becoming real economic topics, not just ESG.
La Réunion as an expansion market
The EDB has just strengthened its programme to help Mauritian companies enter the Réunion market. Geographic proximity + access to a French/EU market: probably an under-exploited lead for Mauritian services, products and B2B partnerships.
Mauritius keeps positioning itself as an Africa + financial services + tech platform, but with two very concrete watchpoints for entrepreneurs: inflation and FX.
Mauritius Business Update · June–September 2026 recap
Investment, AI & FinTech, administrative simplification, Golden Visa, currencies and infrastructure: the business news of recent months in a single brief.
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The key business news to remember from recent months
Mauritius steps up on investment
The EDB now counts 523 private projects worth Rs 649.7 bn, notably in real estate, hospitality, healthcare, renewable energy, logistics and the blue economy.
Ease of Doing Business
The government is preparing a major simplification of licences and permits, including a "Silent Agreement" principle: past a certain deadline without an administration response, some authorisations could be deemed granted. AI and digitalisation should also speed up procedures.
Budget 2026/27: strong focus on entrepreneurs & startups
Among the measures announced: 10-year tax holidays for certain startups, strengthened tax credits for AI/technology investment, and a Startup Hub / Special Economic Zone at Côte d'Or.
Mauritius pushes AI & FinTech
The country is working notably on a framework for stablecoins, the tokenisation of real-world assets and Open Banking, aiming to strengthen its positioning as a financial and tech hub between Africa, Europe and Asia.
Golden Visa
A new scheme planned for foreign investors investing at least USD 1m in certain priority sectors, with access to permanent residence and tax advantages.
Rupee & currencies
The currency market remains tight despite a recent improvement in currency availability. A topic to watch for all businesses with significant EUR/USD revenues or costs.
Infrastructure
The Budget notably plans USD 1 bn for the Island Container Terminal, as well as major investments in water, border digitalisation and national infrastructure.
Mauritius -> Africa
The strategy of positioning Mauritius as an investment platform into Africa keeps strengthening, with increased activity around funds, financial services and international investment.
lots of movement around investment, AI, FinTech and administrative simplification. What remains to be seen is the speed of execution on the ground.
More in the next Founders 230 update 🇲🇺