News & Events
11/12/2017 - Thousands of small and medium enterprises in Mauritius will benefit from a US $100-million loan to the country from the African Development Bank.
The Bank approved the loan through its public sector window to MauBank Holdings Ltd. in Mauritius to expand its SME business across sectors and foster private sector investments in a wide range of sectors, such as manufacturing, trade, agriculture, aquaculture, ICT and transport. The facility will promote inclusive growth in the country.
27/10/2016 - The Deep Ocean Water Applications (DOWA) project in Mauritius supported by the Sustainable Energy Fund for Africa (SEFA) marked a new milestone last week by welcoming the largest marine engineering platform of its kind – ‘Joseph Plateau’ – in Port Louis. The vessel will carry out detailed offshore marine surveys to introduce an innovative low carbon technology that lowers building cooling costs using cold ocean water – a first of its kind in Africa.
25/11/2015 - The African Development Bank has moved ahead on finalizing the first Africa Visa Openness Index. The Index ranks African countries on the level of openness/restrictiveness of their visa regimes. Its aim is to drive visa policy reforms across Africa, simplify visa application procedures and encourage positive reciprocity.
25/06/2014 - The Board of Directors of the African Development Bank (AfDB) approved on 25 June, 2014 a US$ 116.7 million loan to the Mauritius Central Electricity Board (CEB), the state owned electricity utility, for the redevelopment of the Saint Louis Power Plant. The Saint Louis Power Plant Redevelopment Project, which has a total cost of US$ 129.7 million, aims to increase the firm generating capacity of the CEB so as to maintain reliability of supply, reduce environmental impacts and stabilize the electricity supply.
06/02/2014 - The Board of Directors of the African Development Bank Group (AfDB) on Wednesday, February 5 2014 in Tunis approved Mauritius’ Country Strategy Paper (CSP) for 2014-2018. The CSP provides the Bank’s strategic business plan in Mauritius for the five-year period. It is designed to help Mauritius build its competitiveness and resilience to exogenous shocks so as to enhance the quality of growth and accelerate the country’s transition to a High Income Country.
Categories: Mauritius, Education, Energy & Power, Human Capital Development, Information & Communication Technology, Infrastructure, Private Sector, Transport, Water Supply & Sanitation, Board of Directors
08/01/2014 - The Sustainable Energy Fund for Africa (SEFA) has approved a US $1-million project preparation grant at the end of December 2013 to support Sotravic Ltd. in the development and installation of the Sea Water Air Conditioning (SWAC) System in Mauritius, an innovative low-carbon technology that lowers building cooling costs using cold ocean water.
07/11/2013 - The Southern African Customs Union (SACU) is 103 years old. Established on June 29, 1910 in Southern Africa the Customs Union Agreement (CUA) brought together the South African Union, the High Commission of Bechuanaland territories (current Botswana), Basutoland (current Lesotho) and Swaziland, then under British rule.
18/10/2013 - The Board of Directors of the African Development Bank (AfDB) approved on Friday, October 18 a US $12.5-million equity investment in the Kibo Fund II. This contribution will allow the Fund to provide access to finance and capacity building to an underserved market of outward-looking small and medium enterprises (SMEs) and mid-market African firms, particularly in low-income and fragile states within various sectors in Africa, thereby boosting income generation and job creation.
08/10/2013 - “Regional integration offers southern African countries substantial potential from competition and scale effects, but the gains are not automatic; careful design and sustained implementation of the regional trade agreements (RTAs) are necessary to enhance their benefits … and implementation of regional programs requires adequate local capacity, in addition to financial resources.”
11/09/2013 - The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, September 11 a financing package consisting of US $120 million multi-sector line of credit (LOC) and US $30 million subordinated debt to The Mauritius Commercial Bank (MCB). This financing package will allow MCB to increase its foreign currency lending to medium- and large-sized enterprises operating in Mauritius, neighbouring countries and mainland Africa, thereby enhancing sustainable and inclusive growth through private sector development in the region.