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Financial intermediation
The financial intermediation sector contributed 10.5 % of GDP in 2007. It rose by 14.6 % from Rs 18.9 bn in 2006 to Rs 21.6 bn in 2007. In real terms, it grew from +7.0 % to +7.5 %. Investment in the financial intermediation sector fell by 13.8 % from Rs 1.7 bn in 2006 to Rs 1.4 bn in 2007. As a percentage of total investment, investment in the financial intermediation sector dropped from 3.7 % to 2.5 %.
|
|
2004 |
2005 |
2006 |
2007 |
Value added |
Rs Bn |
14.9 |
16.8 |
18.9 |
21.6 |
Value added / GDP |
% |
9.8 |
10.3 |
10.4 |
10.5 |
Growth rate |
% |
+4.3 |
+5.4 |
+7.0 |
+7.5 |
Investment |
Rs Bn |
0.9 |
1.3 |
1.7 |
1.4 |
- As a % of total investment |
% |
2.5 |
3.4 |
3.7 |
2.5 |
Employment |
No. |
7,900 |
8,800 |
9,400 |
|
- As a % of total employment |
% |
1.6 |
1.7 |
1.8 |
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The banking sector, which represented 61.6 % of the financial intermediation sector, rose by 16.0 % from Rs 11.5 bn in 2006 to R 13.3 bn in 2007 while the insurance sector which represented 26.4 % of the financial intermediation sector increased by 10.6 % from Rs 5.2 bn in 2006 to Rs 5.7 bn in 2007.
6.4.1 Global Business
The Global business has continued to attract new players. There was a rise in the number of management companies from 78 in 2006 to 81 in 2007. These Management companies catered for 34,090 global business companies against 30,516 in 2006. Around 70 % of these global business companies are in category 1. The number of global funds also rose from 460 in 2006 to 553 in 2007. Net asset value of the sector reached US$ 49.5 bn in 2007, 37.9 % higher than in 2006.
|
2004 |
2005 |
2006 |
2007 |
No. Category 1 Global Business Companies |
7,445 |
8,061 |
9,035 |
10,372 |
No. Category 2 Global Business Companies |
17,085 |
19,352 |
21,481 |
23,718 |
Total Global Business Companies |
24,530 |
27,413 |
30,516 |
34,090 |
No. Global Funds |
309 |
359 |
460 |
553 |
Net Asset Value (US$ billion) |
12.4 |
26.8 |
35.9 |
49.5 |
No. Management Companies |
73 |
78 |
78 |
81 |
More information can be obtained from :
Central Statistics Office: http://www.gov.mu/portal/site/cso
Financial Services Commission: http://www.gov.mu/portal/sites/ncb/fsc/index.html
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