Kenya, Mauritius explore stronger business ties to unlock Africa's markets

The push emerged during the Kenya-Mauritius Business Forum in Nairobi, held under the theme "Connecting Finance, Investment and Technology for Africa."

The forum brought together players from banking, financial services, investment, technology, legal and corporate advisory sectors to explore opportunities for businesses in the two countries to expand across Africa.

Mauritius Economic Development Board Director Nanda Narrainen said the country wants to position itself as a platform through which businesses can structure, finance and expand their operations across African markets.

"For decades, our relationship has been rooted in mutual respect. But today, as Africa stands at the precipice of a historic economic transformation driven by the African Continental Free Trade Area, respect alone is no longer enough," Narrainen said.

He said the two countries should focus on building stronger links in capital, technology and expertise between Nairobi and Port Louis.

Mauritius presented itself as an international financial centre with services ranging from banking and insurance to capital markets, wealth management, fintech and professional services.

According to data presented at the forum, financial services account for 12.4 per cent of Mauritius' gross domestic product, while the country supports about Ksh.16.8 trillion (USD130 billion) in assets under management.

The country had 864 global funds and 194 Variable Capital Company funds as of June 2026.

Mauritius also had 13,341 Global Business Licence companies as of June 2026.

Data presented at the forum showed that direct inward investment by Global Business Companies in Mauritius stood at Ksh.48.3 trillion (USD372.9 billion), while direct outward investment from Mauritius stood at Ksh.45.8 trillion (USD353.2 billion) as of June 2025.

The figures were presented to demonstrate the scale of Mauritius' cross-border investment ecosystem and its potential role in helping African businesses access international capital.

One example highlighted at the forum was a partnership between Kenya-based Underwriting Africa and Mauritius-based Swan Reinsurance PCC.

The partnership combines reinsurance capacity from Mauritius with expertise in African markets, particularly in credit risk, bonds and guarantees.

Underwriting Africa said the model has supported risks in 23 African countries, with a total sum assured of Ksh.107 billion (USD830 million) and 129 risks supported.

The company said it has also facilitated more than Ksh.107 billion in insured trade and infrastructure transactions through structured credit and guarantee facilities.

The model is intended to help businesses that face challenges such as limited access to capital, insufficient collateral and gaps in credit information.

Technology

The forum also focused on technology as a key driver of cross-border business.

Technology Service Providers of Kenya CEO Dr. Fiona Asonga said stronger regulatory alignment between Kenya and Mauritius could help businesses operate more easily across regional markets.

She highlighted the need for frameworks that address issues such as double taxation and compliance while supporting the objectives of the African Continental Free Trade Area.

Mauritius is seeking to grow its technology sector in areas including software development, fintech, e-commerce, cloud services, cybersecurity, data analytics, digital health and blockchain.

The country is also developing initiatives targeting artificial intelligence, including applications in agriculture, predictive maintenance, smart grids and financial services.

It has further introduced initiatives such as a Start-up Act and an EDB Start-up Accelerator, while plans are underway for an AI City at Côte d'Or.

Narrainen said the two countries should use their membership of COMESA and participation in the AfCFTA to build stronger commercial links.

"By connecting Kenya's entrepreneurial energy, market skills and digital talent with Mauritius' financial sophistication, treaty networks and capital mobilisation tools, we build a resilient, high-growth economic corridor," he said.