Mauritius Tops African Competitivity Ranking

Mauritius is again the most competitive country in Africa as acknowledged by its ranking in the Global Competitiveness Index (GCI) that tracks the performance of 140 countries on 12 pillars of competitiveness.

Mauritius maintains its lead at 45th rank in the overall GCI, thanks to the sustained performance of its economy, while its main African rivals are falling back. South Africa drops 14 places to 61st and Rwanda drops seven places to 58th. South Africa’s GDP growth forecast stands at just 1.0 percent in 2017 and 1.2 percent in 2018.

‘’At a time of deteriorating conditions in neighbouring African countries, Mauritius remains a beacon of stability and efficiency for corporations developing sustainable strategies in Africa’’, said Julien Hoareau, Chairman and CEO of the Navitas Group.

With a GDP per capital of USD 9,425 and a population of 1.3 million inhabitants, the small island nation has risen from a monocrop economy in the sixties to a sophisticated financial centre that channels investments into Asia and Africa.

This sustainable performance stems from the country’s continued commitment to productivity from both public and private sector organisations. Productivity is sustained by the 12 pillars of competitiveness tracked by the CGI. In the case of Mauritius, the country compensates for its small market size with exceptionally good scores in the essential pillars which are institutions, infrastructure, macroeconomic environment, health and primary education. Its higher efficiency is supported by a vibrant higher education sector, training, goods market efficiency, labour market efficiency, financial market development and technological readiness. It also scores high as compared to its peers with regards to business sophistication, while there is still room for improvement on the side of innovation.

Mauritian businesses, mainly from the services sector, are gearing up to take the lead in trade facilitation and financing. In the financial services sector alone, banks have embraced technology to enhance their product offering and to contribute significantly on a continent-wide basis across various areas of banking including project and trade finance.

In 2016, a Mauritian banking group, the MCB, won the title of best banker of Africa from the African Banker magazine. It has been acknowledged for setting the tone in terms of technology, innovation and governance. Its main rival, SBM is has acquired Fidelity Commercial Bank in Kenya with a view to using this as a hub for servicing neighbouring countries including Uganda, Tanzania, Zambia and Rwanda.

This shows the Mauritian banks determination to make headway into the African market and pull Mauritius ahead of the game on the continent.