Larry Claasen
4 minute read
9 Nov 2020
7:05 am

Mauritius under a cloud

Larry Claasen

The concerns over the blacklisting should be taken seriously, as Mauritius has ambitions of becoming an important financial centre.

An aerial shot taken in April 2020 shows people waiting while adhering to social distancing in a parking lot before entering a supermarket in Grand Baie, Mauritius; the country has declared wary victory over the coronavirus. L'Express Maurice/AFP/File/-

The European Union’s (EU) move to put Mauritius on a money laundering ‘blacklist’ has cast a cloud over its reputation as a domicile for local fund managers looking to invest in projects on the continent. This development has left local fund managers apprehensive about doing business in the island nation, according to the ‘South African Fund Managers: Trends in Fund Domiciliation and Capital Raising’ report put out by Jersey Finance in partnership with African Business magazine. The matter arose in early May when the European Commission said it had come up with a new methodology for defining countries that had...