World | Africa

July 24, 2012

South Africa: Our Economic Lifeline of Mauritius

With the economic storm facing the world, Maurice plays the card of diversification. The target was set to try to reach emerging markets, which currently enjoy world economic growth upwards.

Apart from the two superpowers in the making, India and China, the country has set his sights on another nation, the last to integrate the BRICS, including South Africa.

The country of Mandela, closer to us than other emerging markets, remains far from being exploited. The main industries are facing South Africa, to reinvigorate their operations.

Two weeks ago, Enterprise Mauritius had also organized a Buyers-Sellers Meeting, Johannesburg and Cape Town. 40 Mauritian firms have participated. Moreover, one of two liaison offices in the country plans to open in Africa, will be in South Africa.

Our exports to that country are also in the net growth from Rs 3.6 billion in 2010 to

Rs 4.9 billion in 2011. This figure represents about 5% of our total exports. For the first quarter 2012, our exports to South Africa totaled Rs 1.4 billion against Rs 1 billion in the same period last year. Foreign direct investment (FDI) from South Africa are steadily growing in recent years. They increased from Rs 38 million in 2006 to Rs 2.2 billion in 2011. For the first quarter of 2012, FDI totaled Rs 511 million.

The Mauritian tourism industry eyeing course, too, this country. From January to June 2012, tourist arrivals were 39,844 against 38,347 visitors to the same period in 2011. Just for the month of June 2012 compared to 2011, arrivals rose 12.5% from 6026 à 6777 visitors.

South Africa has 50.59 million inhabitants (estimated 2011 census) and its economy is the most powerful of the African continent. Since 1994, South Africa has opted for an economic liberalism tempered by a strong involvement of the State to regulate the economy, to change the unequal distribution of wealth and to ensure better protection of social groups historically and economically the most disadvantaged. The country registered a steady growth of 5% on average since then.

 

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