Business updates

The Mauritius Chamber of Commerce and Industry (MCCI) hosted a high-level workshop on Monday 15 July 2024 to disseminate the findings of a comprehensive report on the impact of COVID-19 and the Russia-Ukraine crisis on Mauritian MSMEs.

The event was graced by the presence of Hon. Ms. Naveena Ramyad, Minister of Industrial Development, SMEs and Cooperatives and saw the participation of prominent stakeholders such as the Ministry of Finance, Economic Planning and Development, SME Mauritius, Industrial Finance Corporation of Mauritius (IFCM), Development Bank of Mauritius, National Productivity and Competitiveness Council, Business Mauritius amongst others.

This initiative has been a collaborative effort between the United Nations Economic Commission for Africa (UNECA), the MCCI, the Association of Mauritian Manufacturers (AMM) and the SADC Business Council and is based on a survey of 352 businesses conducted between 2022 and 2023. The report offers a thorough analysis of the challenges these businesses have encountered and are still facing and aims to guide policymakers and support organisations in developing targeted strategies for MSMEs recovery and growth.

Dr. Drishtysingh Ramdenee, Secretary General of MCCI, highlighted, “This report is a catalyst for action. MCCI is committed to being a one-stop shop for MSMEs, offering comprehensive support from securing finance to expanding into regional and international markets.”

Hon. Ms. Naveena Ramyad commended this report and emphasised the importance of this initiative within the broader context of the Mauritian government's economic development strategy. She also highlighted the importance of public-private collaboration in achieving common development goals.

Ms. Olayinka Bandele, Chief Inclusive Industrialisation section at the UNECA stressed on the regional significance of this study: "Several key recommendations of the report will enable Mauritius and the SADC to achieve their respective goals in terms of increasing the economic contribution of MSMEs."

Dr. Verena Tandrayen-Ragoobur from the University of Mauritius highlighted the academic rigor behind the report, stating: “This collaboration is a perfect example of how academic research can directly inform economic policies.”

Mr. Julien Audibert, Vice President of the Association of Mauritian Manufacturers (AMM), highlighted: “Findings of this report will fortify our advocacy efforts and illuminate the opportunities to strengthen and foster the resilience of MSMEs within our industries.”

The report's findings will guide targeted policies and support programs, positioning Mauritius as a model for economic resilience in the region. The MCCI, leveraging its unique regional and international network, including memberships in COMESA Business Council, SADC Business Council, and Africa Business Council, and as a “one-stop-shop” for SMEs, is well-positioned to drive this initiative forward.