BIZweek n°215 26 oct 2018
BIZweek n°215 26 oct 2018
  • Prix facial : gratuit

  • Parution : n°215 de 26 oct 2018

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 8

  • Taille du fichier PDF : 3 Mo

  • Dans ce numéro : Maurice abritera un "coordination hub".

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VENDREDI 26 OCTOBRE 2018 BIZWEEK ÉDITION 215 LA TOUR ABSA AFRICA FINANCIAL MARKETS INDEX 2018 Mauritius loses two spots but… ‘Signs of progress amid regional economic weakness’. The second edition of the Absa Africa Financial Markets Index, produced by the Official Monetary and Financial Institutions Forum (OMFIF), gives an idea of the attractiveness of Africa’s financial markets. This year, Mauritius moves down to the fourth place, losing two spots, on basis of « shallow foreign exchange market ». However, the report also shows the « plus points » for our country The second edition of the Absa Africa Financial Markets Index suggests that Mauritius loses two places to rank fourth, having seen its scores « deteriorate across most pillars. » The report is produced by the Official Monetary and Financial Institutions Forum (OMFIF) and is now considered a « toolkit for countries seeking to strengthen their financial markets infrastructure. » Our score in the ranking  : 62. Way far from the 93 points for South Africa, but almost same range as Botswana (65) and Kenya (65). Our major plus points  : strong regulatory and legal framework. On the negative side – a « shallow foreign exchange market. » Views and opinions were taken from more than 50 policy-makers, regulators and market practitioners for the drafting of the Index. Some have requested anonymity but known names for Mauritius include Sunil Benimadhu, Chief Executive of Stock Exchange of Mauritius, Vipin Mahabirsingh, Managing Director of Central Depository & Settlement, Bank of Mauritius, Mauritius Commercial Bank… Should we focus mainly on the negative side of the report ? No, say some local observers. The Absa report also points out some positive aspects for Mauritius. « Foreign reserves have been steady in most index economies since 2012, with some exceptions. Oil-dependent Nigeria and Angola have suffered from weak commodity prices over the past few years, and have drawn on foreign reserves to defend their currencies. Between 2012-17, Angola’s reserves fell by $14bn (45%), and Nigeria’s fell by $7bn (15%). Conversely, Egypt, Morocco and Mauritius have seen strong growth in reserves. » « More than half the reserves were held by three of the continent’s largest economies  : South Africa, Nigeria and Egypt. However, reserves as a share of GDP are highest in Africa’s smaller but more developed economies. Over 2017, this metric grew substantially in Mauritius, which overtook Botswana to top the list with 44%, from around 36% last year. » « Mauritius is a notable exception. There is a wide range of investment options and relatively ‘strong demand for more complex assets, including different types of derivatives products’, according to the exchange. In countries with a more sophisticated domestic investor base, such as Kenya, the main issue is ‘a shortage of investment vehicles tailored to investor needs’ ». « Only 10 index countries have corporate ratings. Rwanda fares well in terms of transparency and regulatory strength, receiving the highest score possible in the index for protection of minority shareholders. However, there are discrepancies between the official rules and regulations on transparency and the reality of their implementation. The country also lacks any corporate credit ratings from the main agencies, and scores relatively low for tax environment. Mauritius has 27 corporate ratings but only one sovereign rating. » PILLARS SCORES (on max 100 points) Market Depth 56 Access to Foreign Exchange 52 Market Transparency, Tax and Regulatory Environment 89 Capacity of Local Investors 18 Macroeconomic Opportunity 63 Legality and Enforceability of Standard Financial Markets Master Agreements 94 LOTERIE NATIONALE RÉSULTAT DU TIRAGE Le tirage du Loto du mercredi 24 octobre 2018 n’a fait aucun gagnant. Les numéros gagnants de ce tirage sont  : 4
VENDREDI 26 OCTOBRE 2018 BIZWEEK ÉDITION 215 AFRICAN LEADERS ACTA PUBLICA « World Bank must do more to eradicate energy poverty across the continent » Speaking at the World Bank meeting in Bali this month, Jim Yong Kim, the World Bank President, said that African leaders have approached him and said that they need more support to provide baseload power in their countries According to Jim Yong Kim, World Bank President, earlier this month, African leaders are telling him it is wrong for institutions like the World Bank to tell them they cannot use fossil fuels for baseload electricity. Speaking in Bali, Kim said that leaders across the developing world are telling him  : « You’ve come tous in Africa who have put almost none of the carbon in the air and you can tellus we can’t have baseload electricity. You’re outraged by climate change, we have almost no responsibility for putting the carbon in the air and yet you’re telling us we can’t develop and have baseload energy because we can’t use a single drop of fossil fuel for our own energy needs. And I can tell you, when I hear that from our leaders, from people in industry, in places like Africa, it’s compelling to me. » An estimated 1.1 billion people – 14% of the global population – do not have access to electricity according to the International Energy Agency. The World Bank has announced it will not fundupstream oil and gas projects from 2019 onwards, which follows a similar ban on coal financing. Kim added at the Bali meeting  : « We feel that you have to listen to the social justice arguments from people from poor countries who have not put any of the carbon in the air and want to have baseload. » It was reported in May by Bloomberg that climate talks organized by the United Nations ended with « developing countries demanding more clarity from their richer counterparts on Négociations avec l’UE  : Maurice abritera un ‘Coordination Hub’Le ministre des Affaires étrangères, Vishnu Lutchmeenaraidoo, mène actuellement une mission à Bruxelles dans le cadre de la réunion des ministres du Commerce des pays du bloc ACP (Afrique, Caraibes, Pacifique) et de la réunion ministérielle conjointe ACP – Union européenne. En marge de ces réunions, le ministre a eu des discussions d’ordre bilatéral extrêmement vitales, dont la question de l’approvisionnement des conserveries mauriciennes en thon jaune. Le chef de la diplomatie mauricienne a discuté de la question avec le EU Director General, DG Maritime Affairs & Fisheries, João Aguiar Machado, en vue de trouver une solution durable au problème d’approvisionnement des usines mauriciennes en thon par des bateaux de pêche européens qui pêchent dans les eaux territoriales de Maurice. Des ruptures d’approvisionnement ont été enregistrées l’année dernière, et les conserveries ont été contraintes au chômage technique pendant un certain temps. Ce secteur d’activité emploie quelque 20 000 personnes et contribue aux revenus d’exportation du pays. Vishnu Lutchmeenaraidoo multiplie les initiatives pour que Maurice puisse avoir l’assurance d’un approvisionnement régulier tout au long de l’année afin que l’industrie de la when a promised package of $100 billion in finance will materialize ». The piece said that « developing nations want more detail on what money is coming before signingup to the Paris rules ». transformation de thon puisse opérer à sa capacité optimale et à se développer de manière sereine. Maurice comme facilitateur In late 2017 Standard and Poor’s released a report questioning where $100 billion would come from, citing a need for many countries to increase budgets and debt burdens to finance their pledges. The report by Standard and Poor’s said  : « In our view, it is very unlikely that governments would be willing, or able, to risk deteriorating their creditworthiness by stretching their budgets and debt burdens to fund the implementation costs. » Le ministre a aussi participé, à cet effet, à une réunion technique composée de représentants de l’industrie mauricienne de conserverie de thon et d’armateurs européens. L’Accord de partenariat économique intérimaire entre l’Union européenne et la région (Maurice, Seychelles, Madagascar et Zimbabwe) a aussi fait l’objet de discussions, de même que les négociations sur un éventuel accord post-Cotonou qui déterminera les contours des relations économiques entre Maurice et l’Europe. Maurice abritera un ‘Coordination Hub’, structure qui accompagnera le bloc Maurice, Seychelles, Madagascar et Zimbabwe dans les négociations avec l’UE dans l’optique de l’élargissement de l’accord de partenariat économique intérimaire. Maurice compte, dans le même souffle, jouer un rôle prépondérant dans la mise en œuvre du EU External Investment Plan for Africa, et ce, dans un esprit de consolider la vocation de Maurice comme une courroie financière entre le continent africain et le reste du monde. Le ministre Vishnu Lutchmeenaraidoo a discuté de la question lors d’une rencontre avec Mme Ewa Synomiec, Director DG Trade de l’UE. Maurice bénéficiera d’une enveloppe de 1 million d’euros pour la mise en place du ‘Coordination Hub’. 5

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