Henry V. Jardine,
U.S. Ambassador to Mauritius

“Around $100 billion annually flows through Mauritius from the U.S.”

During a networking event hosted by the U.S. Embassy, in collaboration with the American Chamber of Commerce (AmCham) in Mauritius, at the Hennessy Park Hotel, Ebene, the U.S. Ambassador to Mauritius, Henry V. Jardine, discussed the recent visit of the Prosper Africa team to Mauritius. The event was aimed at fostering connections between U.S. and Mauritian businesses, following up on the recent U.S.-Mauritius Business Summit. Below are key insights from the Q&A session with Ambassador Jardine.

Can you give us a brief of the mission of Prosper Africa to Mauritius and the main takeaways from the visit?

Prosper Africa is a presidential initiative by President Biden aimed at enhancing two-way trade between the United States and African nations, including Mauritius. We were pleased to welcome Prosper Africa Coordinator British Robinson and her team, along with members from the U.S. Africa Trade Desk and business representatives. Their mission was to explore opportunities for fostering and promoting bilateral trade. Since Sunday, they have engaged with various stakeholders, including government officials, the port authority, and chambers of commerce like the American Chamber of Commerce and the Mauritius Chamber of Commerce and Industry. Overall, they have been impressed by Mauritius’ infrastructure, business opportunities, and favorable climate for trade.

The objective is for the delegation to return to the U.S. and share these insights with American businesses, highlighting the potential, here, for partnerships. This visit builds on the momentum from our successful business summit in August, where specific deals were secured. We aim to continue strengthening economic and commercial ties between the U.S. and Mauritius.

There is a lot of capital flowing from the United States into Mauritius and the wider region, and I would hope that other American financial institutions might explore opportunities here

The financial sector in Mauritius is a critical area. Could you elaborate on its significance in this context?

Mauritius has established itself as a vital platform for financial services, facilitating trade and investment across Africa. Today, we had the managing partner from Dentons speaking about their role in this sector. It’s noteworthy that around $90 billion to $100 billion annually flows through Mauritius from the U.S., primarily directed into Africa. The financial relationship is robust, and the goal is to deepen this connection by encouraging more U.S. firms to see Mauritius as a strategic investment gateway to the continent.

Is there any prospect of a greater U.S. banking presence in Mauritius, given its role as a financial hub?

While I cannot speak directly for specific banks like Bank of America or others, I can say there has been growing interest from U.S. investors in using Mauritius as a platform for investment, both within the country and across Africa. There is a lot of capital flowing from the United States into Mauritius and the wider region, and I would hope that other American financial institutions might explore opportunities here. However, these decisions ultimately rest with the banks themselves.

Mauritius has established itself as a vital platform for financial services, facilitating trade and investment across Africa

With recent activities, like the U.S.-Mauritius Business Summit and Prosper Africa’s visit, what is the current perception of U.S. companies regarding the Mauritian private sector?

Many U.S. companies are still learning about the opportunities here. When they visit, they are often impressed by what they see. Our focus has been on educating American businesses about the benefits of engaging with Mauritius. Given that American businesses are traditionally U.S.-market-centric, it’s crucial to showcase the potential beyond their borders. Events like this are essential in broadening their perspective and fostering partnerships that can lead to mutual growth.

Any final thoughts on the future of U.S.-Mauritius trade relations?

The continued engagement between U.S. and Mauritian businesses is a positive sign. We are looking forward to building on these initiatives, fostering more collaboration, and ensuring that businesses on both sides benefit. Mauritius presents a unique position as a gateway to Africa, and we are excited to see where these partnerships can lead.