The Central Bank of Mauritius announced on March 18 it has awarded a banking licence to Bank of China. The Chinese bank thus boosts its presence in Africa as it plans to better serve local companies and multinationals.
The central bank of Mauritius left its benchmark repo rate unchanged at 4.40 percent, saying it expects inflation to remain "quite low" but added that its monetary policy committee had taken note of "the evolution of excess liquidity in the banking system."
Government has taken note of developments in the setting up of a Mauritius Commodities Exchange, with the assistance of the Dubai Multi Commodities Centre (DMCC).
Mauritius plans to launch a trading platform to hedge African currencies against the U.S. dollar, part of a bid to expand its role as a financial hub for the continent, the financial services minister said.
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