The T3 cable will connect Mauritius to South Africa
The end of 2023 will see the commissioning of the T3 optical fiber submarine cable, connecting South Africa to Mauritius. Mauritius Telecom is part of the consortium which carried out the project of this infrastructure, with a capacity of 18 Terabits/second (i.e. 18 times that of the SAFE cable, the first put into service in the Indian Ocean, twenty years ago, and 9 times that of LION, the other cable of which Mauritius Télécom is a shareholder). Mauritius is also connected to Reunion, Madagascar and South Africa via the METISS cable, with a capacity of 24 Tbits/s and of which the private operator Emtel is a member of the consortium.
Foreign investments on the rise in 2022
Foreign direct investments amounted to 27,7 billion rupees (approximately 563 million euros) in 2022, according to the Bank of Mauritius. The figure is up sharply compared to 2021 (18,5 billion rupees, 376 million euros), year still marked by the health crisis. The real estate sector attracted the largest share of these investments, via the various incentive schemes in force.
Investments in the education sector reached 4,5 billion rupees (91 million euros), sharply increasing. The tourism sector has, on the other hand, recorded a drop in foreign investment (1,1 billion rupees, 22 million euros).
The Turkish brand Enza Home sets up shop
A 1,100 m2 luxury furniture and decoration store opened its doors in April in the Bagatelle shopping center, south of Port Louis. This is the first establishment in Mauritius of the Turkish brand Enza Home, with 250 stores worldwide, mainly in Europe. Brought to you by the specialized Mauritian group Teak World Group, the brand targets segments from mid-range to high-end.
Record profits for Mauritius Commercial Bank
The Mauritius Commercial Bank group garnered 10,8 billion rupees (around 220 million euros) profit during the first nine months of its 2022-2023 financial year, figure up almost 50% compared to the previous year. Two thirds of these profits were made abroad. In addition to its participation in the French Commercial Bank Indian Ocean alongside Société Générale, MCB has subsidiaries in Madagascar, in the Maldives, in Mozambique and Seychelles.
The Médine group invests in health
The Médine group is preparing to invest nearly two billion rupees (more than 40 million euros) in the creation of a private clinic in Cascavelle (west of the island). Associated with the Singaporean group SAF Healthcare Holdings Co Ltd, the former Mauritian sugar group intends to offer basic health care as well as various medical and surgical specialties on the same site. The establishment will have, eventually, a capacity of 110 beds and will open its doors at the end of 2025.
