The strategic geographical location of Mauritius, coupled with its cosmopolitan environment, already provides a vantage point for meeting the needs of a rapidly developing Africa. As Africa becomes the driver of demand and innovations, Mauritius is well-positioned to help ICT companies better understand and meet the needs of consumers across Africa and beyond.
A recent trade and investment mission conducted by the EDB to Ivory Coast and Togo in June has brought to the fore the wide array of exports in services in the ICT sector and reinforced the investment potential between Mauritius and emerging markets from West Africa.
According to the World Investment Report 2024, in 2023, Greenfield investment value in West Africa region grew threefold and the whole of the ECOWAS has attracted USD 12 billion in FDI, making the region the third most attractive for global investors, behind only the SADC and COMESA. The key sectors for FDI were physical infrastructure development, oil and gas and Telecommunications and technology.
ICT operators from Mauritius could therefore consider tapping into investment and service export in markets such as the ones in Ivory Coast and in Togo, given that both countries are already open to investment and external expertise, have many emerging firms, startups and institutions adopting digital solutions. Moreover, the world bank has projected that the economic growth in Ivory Coast for the period 2024-2026 should reach 6.5%, while growth in Togo should reach 5.1%.
On the inward investment front, West Africa has a number of large and medium-sized firms with the potential to set up subsidiaries in Mauritius and take advantage of the country’s friendly business environment. Its Trade and investment agreements, provide strategic opportunity to explore new horizons and markets such as China and India through the China FTA and the CECPA, or in Eastern and Southern Africa through SADC and COMESA.
There is no doubt that the digital transformation that is happening in Africa will significantly unfold opportunities for Mauritian companies. Following the recent mission undertaken, it was noted that both Ivory Coast and Togo are on the digital transformation wave and are open to investment and collaboration partnership avenues with Mauritian companies in specific areas such as education, agriculture, health and infrastructure. The possibility of pitching digital solutions for the implementation of e-government projects and digitalise processes across the emerging sectors, such as logistics and port infrastructure also exist. Moreover, given the fact that a large portion of the population remains unbanked and uses mobile solutions, present an opportunity for Mauritian tech startups to develop smart mobile solutions which can be tested in Mauritius and commercialised in bigger markets.
For more information, you may contact the Economic Development Board – ICT and Emerging Technologies cluster on 2033800 or on ictbpo@edbmauritius.org
