AGP Executive Report

Mauritius Courts & Business: The Mauritius Supreme Court has halted Chappal Energies’ planned US$100m takeover/rights issue, ordering that the matter be referred to the London Court of International Arbitration before the company can proceed. Tourism Leadership: The Mauritius Tourism Promotion Authority has appointed hospitality veteran Paul T. Jones CMG as Consultant (voluntary basis) to drive its transformation and next tourism push. Aviation Connectivity: Parliament has ratified bilateral Air Services Agreements between Ghana and six countries including Mauritius, aiming to strengthen air links for trade, tourism and cargo. Digital & Governance Links: India’s e-governance push continues to draw attention, with officials citing Mauritius among countries adopting Indian digital governance practices. Regional Context: India’s PM Narendra Modi is set for a three-nation Asia-Pacific tour (Indonesia, Australia, New Zealand), with officials saying the focus is shifting to eastern Indian Ocean maritime engagement. Global Tech: Google Play launched a $1m Indie Games Fund for Africa, backing small studios with equity-free support and mentorship.

Tourism & Hospitality: Mauritius Tourism Promotion Authority has appointed hospitality veteran Paul T. Jones CMG as Consultant on a voluntary basis to help drive a transformation and boost the island’s luxury positioning. Aviation Connectivity: Mauritius is among countries whose bilateral Air Services Agreements have been ratified by Ghana’s Parliament, aiming to strengthen air links for trade, tourism and jobs. Cybersecurity: Mauritius plans new Cybersecurity and Cybercrime Regulations for critical information infrastructure, with strict compliance requirements and penalties up to MUR 2 million and 25 years in prison. Business & Courts: Mauritius Supreme Court has stopped Chappal Energies’ planned rights issue, restraining directors while an urgent application is handled through the London Court of International Arbitration. Global Finance/Payments: NPCI partnerships with HSBC India and J.P. Morgan Payments will let UPI users see real-time rupee costs for overseas payments before confirming. Travel & Media: Emirates will roll out a next-generation lounge concept, with Mauritius scheduled to debut in August. Recognition: A Sierra Leone MP received a Top 100 Global Innovative Leaders Award during a summit in Port Louis.

Mauritius Cybersecurity Push: Mauritius is preparing new Cybersecurity and Cybercrime Regulations to protect critical information infrastructure, with CII operators given a 12-month period to comply after the framework takes effect on 01 June; penalties include fines up to MUR 2 million and up to 25 years in prison. Aviation Connectivity: Parliament ratified air services agreements between Ghana and six countries including Mauritius, aiming to boost trade, tourism and passenger/cargo movement through clearer rules and ICAO-aligned standards. Court Blocks Chappal Energies Move: Mauritius Supreme Court restrained Chappal Energies Mauritius directors from proceeding with a planned rights issue, pending urgent relief proceedings at the London Court of International Arbitration, after a minority shareholder-linked bid to take up to 85% was alleged. Legal Clarity for Investors: An English Court of Appeal decision held that India’s ratification of the New York Convention did not waive state immunity for enforcement of Mauritius-related investment treaty awards. Local Business & Sustainability: Constance Sakoa Boutik in Mauritius received its first Green Globe certification, highlighting local procurement and community support as part of its sustainability plan. Regional Finance Tech: Mauritius is also mentioned in broader digital finance developments, including UPI expansion to multiple countries such as Mauritius.

Mauritius Fintech Push: Mauritius has launched a 2026–2030 National Fintech Strategy to position the island as Africa’s trusted fintech hub, with six pillars covering regulation, digital infrastructure and cybersecurity, skills, market growth, international collaboration, and financial inclusion with consumer protection. Air Mauritius Probe: Air Mauritius says its board may refer Kroll’s forensic findings on fleet transactions during its 2020/21 voluntary administration to the Financial Crimes Commission and police, after reviewing the report and considering civil and disciplinary steps. Cross-Border Payments: NPCI partnered with HSBC India and J.P. Morgan Payments to enable real-time FX settlement for overseas UPI transactions, letting users see the exact INR amount at the point of payment. UPI Growth Watch: UPI transactions in June hit 22.72 billion (value Rs 28.9 lakh crore), down month-on-month in volume but up strongly year-on-year, with a record daily average of 757 million. Regional Business Links: Maritimo appointed KJM Marine as its exclusive dealer across the GCC and parts of the Middle East and Indian Ocean, including Mauritius and the Seychelles. Legal Milestone: The English Court of Appeal ruled that India’s ratification of the New York Convention does not waive state immunity for enforcing India–Mauritius BIT awards.

Mauritius Fintech Push: Mauritius has launched its 2026–2030 National Fintech Strategy to position the island as Africa’s “trusted fintech hub”, with six focus areas from regulation and cybersecurity to talent, market growth, international collaboration and financial inclusion under a phased 2026–2030 roadmap. Air Mauritius Probe: Air Mauritius says its board may refer findings from a Kroll forensic review of key fleet transactions during its 2020/21 voluntary administration to the Financial Crimes Commission and police, after reviewing the report in late June. Digital Payments Momentum: India’s UPI hit record daily averages in June (757 million) and continues global expansion, with Mauritius listed among the countries where UPI is available. Aviation Connectivity: Parliament ratified bilateral air service agreements with six nations including Mauritius, aimed at boosting passenger and cargo connectivity. Boating Deal in the Region: Maritimo appointed KJM Marine as its exclusive dealer across the GCC and parts of the Middle East and Indian Ocean, including Mauritius and the Seychelles. New Trading Platform: Mauritius FSC-licensed Siris Broker launched a multi-asset CFD and FX brokerage platform with cTrader execution and segregated client funds.

Digital Payments: India’s UPI saw June transactions moderate to Rs 28.9 lakh crore (from a May record Rs 29.9 lakh crore) but daily averages hit a new high of 757 million, with annual value growth of 20%. Cross-Border UPI: NPCI partnered with HSBC India and J.P. Morgan Payments to enable real-time FX settlement for overseas UPI payments, improving transparency for Indian travellers. UPI Expansion (Regional): UPI went live in Greece via Eurobank, bringing the service to 10 countries including Mauritius, making instant, low-cost transfers abroad easier. Aviation Costs: India cut Aviation Turbine Fuel (ATF) by Rs 5 per litre to about Rs 110, offering some relief to airlines after volatile fuel prices. Mauritius Connection (Travel/Business): Emirates’ next-generation lounge concept is set to roll out in Mauritius in August, following Munich and Frankfurt upgrades. Local Relevance (Finance/Opportunity): A report highlights why many people across Africa can transact digitally but still struggle to access banking services like saving and borrowing—an issue that matters for financial inclusion in the region. Maritime & Luxury: Maritimo appointed KJM Marine as its exclusive dealer across the GCC and parts of the Middle East and Indian Ocean, including Mauritius and Seychelles. Trade & Events: The U.S.-Africa Business Summit in Mauritius has been rescheduled to December 6–9, 2026.

Mauritius–India Business & Diplomacy: PM Navinchandra Ramgoolam met India’s Narendra Modi in Seychelles, with Modi also discussing defence and energy cooperation and reviewing an enhanced strategic partnership. Digital Payments: India’s UPI is now live in Greece via Eurobank and NPCI International Payments Ltd, with Mauritius listed among UPI-connected countries—another boost for cross-border payments for Mauritian-linked travellers and businesses. Mauritius MICE Push: Mauritius showcased its expanding MICE offering at IMEX Frankfurt 2026, led by the MTPA, pitching the island for conferences, incentive travel and executive retreats and building a pipeline of new European and GCC opportunities. Local Policy Debate—Pensions: Mauritius pension reform remains in the spotlight, with renewed debate over the Basic Retirement Pension’s universality versus fiscal sustainability and the fairness of proposed changes. Regional Context: A Global Peace Index update ranks Nigeria among the least peaceful countries, underscoring wider instability pressures that can spill into trade and investment planning.

UPI Expansion: India’s UPI has gone live in Greece via the Eurobank–NPCI International Payments Ltd partnership, enabling instant, secure, low-cost cross-border transfers; Commerce Minister Piyush Goyal watched a live demo in Athens and said UPI is now available in 10 countries, including Mauritius. Mauritius Tourism & MICE: Mauritius showcased its Meetings, Incentives, Conferences and Exhibitions push at IMEX Frankfurt 2026, with the Mauritius Tourism Promotion Authority leading partners and building a pipeline of new luxury event and GCC market opportunities. Mauritius-Linked Finance & Skills: ACCA signed an MoU with AFIAAR in Mauritius to boost “accountancy quality” across Africa, while EBC Financial Group renewed its Oxford economics partnership for public economic education. Regional Context: The 2026 Global Peace Index ranks Nigeria among the least peaceful countries, underscoring wider conflict-linked economic strain.

Mauritius Pension Reform: A fresh debate is reigniting around Mauritius’ 2026-27 pension overhaul, with commentators stressing that any change to the universal Basic Retirement Pension must respect constitutional authority and the social contract, not just fiscal arithmetic. Editorial on BRP Universality: Writers argue the BRP is more than a payment—it’s a symbol of dignity and solidarity—so reforms should protect universality while finding sustainable financing. Tourism & Culture: A new opinion piece pushes cultural tourism as a strategic resource for Mauritius and the wider Indian Ocean, not just “decoration,” urging deeper heritage-led experiences. Business & Investment: A Mauritius-based financial investor is reported raising its stake in a company via convertible warrants, while another Mauritius-linked item highlights pre-IPO access offerings tied to major AI firms. Regional Spotlight: Mauritius’ ties with the Indian Ocean region remain in focus through coverage of India’s high-profile Seychelles visit, including defence cooperation and UPI digital payments—developments that also matter for Mauritius’ wider regional partnerships.

India–Mauritius Talks in Seychelles: PM Navinchandra Ramgoolam met India’s PM Narendra Modi in Victoria, reviewing the India–Mauritius Enhanced Strategic Partnership and progress under India’s Special Economic Package, with focus on defence, energy, cyber security, capacity building and skills. Seychelles National Day Diplomacy: Modi attended Seychelles’ 50th Independence Golden Jubilee, including prayers at the Arul Mihu Navashakti Vinayakar Temple and Indian military participation in the parade, while also meeting Seychelles President Patrick Herminie and opposition leader Bernard Georges. UPI Push: Seychelles and India signed an MoU to bring UPI QR payments to the island, aimed at easing cashless transactions for Indian visitors. Maritime Power Shift: Reporting around Modi’s visit frames the Indian Ocean push as a bid to deepen security cooperation and counter growing great-power competition. Local Business/Finance: PU Prime in Mauritius launched pre-IPO access for OpenAI and Anthropic, targeting retail investors seeking exposure to private AI firms.

India–Mauritius ties: PM Narendra Modi met Mauritius PM Navinchandra Ramgoolam in Seychelles, reviewing the India–Mauritius Enhanced Strategic Partnership and progress under India’s Special Economic Package, with cooperation flagged across defence, energy, cyber security, capacity building and skills, and projects linked to Mauritius’ healthcare, connectivity and blue economy. Regional diplomacy: Modi also met Seychelles President Patrick Herminie and addressed the Seychelles National Assembly, becoming the first Indian PM to do so, stressing that the Indian Ocean “connects” the region and that 50 years of relations haven’t changed mutual commitment. Trade policy: India’s commerce ministry convened stakeholders for June 30 to discuss SEZ reforms, including harmonising export promotion schemes and easing operations in the zones. Finance & risk: A survey by Ocorian says 75% of family offices expect to take on more risk in alternatives, citing greater transparency, with Mauritius included in the study. Travel demand: UAE data shows Mauritius remains among top destinations for the summer season, alongside the Maldives and Thailand. Local culture/people: A viral Mauritius vacation clip has Tejasswi Prakash jokingly calling herself Karan Kundrra’s “wife,” reigniting wedding speculation.

Mauritius Tourism & Hospitality: Trou aux Biches Beachcomber Golf Resort & Spa is set to reopen on 15 October after a four-month renovation and beach restoration, with a refreshed look, sustainability focus, and shoreline resilience measures. Mauritius-India Links: Indian Navy survey vessel INS Ikshak arrived in Port Victoria, Seychelles, for National Day events, underscoring wider Indian Ocean maritime cooperation that also connects to Mauritius through regional security ties. Trade & Finance for the Region: Afreximbank appointed Peter Adeshola Olowononi as Director of Regional Operations for Southern Africa, covering Mauritius and neighbouring states, effective 1 May. Local Culture & Interfaith: Puthige Math seer Shri Sugunendra Theertha Swamiji met Mauritius President Dharam Gokhool at the Presidential Palace, discussing interfaith harmony and receiving an invitation to visit Udupi. Business & Travel Perks: Mastercard launched “Priceless Africa” on Priceless.com, including curated experiences in Mauritius for cardholders. Viral Pop Culture: A Mauritius vacation vlog has reignited wedding speculation for Tejasswi Prakash and Karan Kundrra after playful “wife” remarks went viral.

Mauritius-India ties: PM Narendra Modi will travel to Seychelles from June 27–29 as Guest of Honour for the Golden Jubilee National Day, holding talks with President Patrick Herminie and addressing the National Assembly, with a focus on broad bilateral cooperation and people-to-people links. Regional finance: Afreximbank appointed Peter Adeshola Olowononi as Director of Regional Operations for Southern Africa (covering Mauritius among 13 countries), effective May 1, succeeding Humphrey Nwugo. Local diplomacy & faith: Shri Sugunendra Theertha Swamiji of Udupi’s Puthige Math met Mauritius President Dharam Gokhool at the Presidential Palace, discussing interfaith harmony and inviting the President to visit Udupi. Energy investment in Mauritius: NTPC incorporated NTPC (Mauritius) Energy Limited to develop a floating solar project with battery storage and explore other power opportunities in Mauritius. Travel perks for cardholders: Mastercard launched Priceless Africa on Priceless.com, including Mauritius among curated experiences across nine African markets. Sports support: FDH Bank donated K100 million to Malawi’s CUCSA games via TESSAM, highlighting wider regional sports backing. Viral pop-culture: A Mauritius vacation vlog by Karan Kundrra and Tejasswi Prakash sparked fresh wedding speculation after playful “wife” comments went viral.

Mauritius–India Diplomacy: Puthige Math seer Shri Sugunendra Theertha Swamiji met Mauritius President Dharam Gokhool at the Presidential Palace, discussing religion and interfaith harmony, with the President accepting a copy of the Bhagavad Gita and agreeing to participate in the “Koti Geetha Lekhana Yajna” initiative. Regional Governance & Anti-Corruption: SADC anti-corruption agencies adopted reforms to boost transparency, strengthen the operational and financial independence of agencies, speed up electronic procurement, and improve asset recovery and regional cooperation. Energy Investment in Mauritius: NTPC incorporated NTPC (Mauritius) Energy Limited, capitalised at MUR 1 million, to develop a floating solar project with battery storage and explore further power-sector opportunities. Tourism Push: Air Mauritius and the Mauritius Tourism Promotion Authority are promoting a refreshed “slow luxury” and experiential tourism push, including wellbeing and sports tourism, with new non-stop London services. Seychelles Visit With Indian Ocean Focus: PM Modi is set to travel to Seychelles (June 27–29) as Guest of Honour for Golden Jubilee National Day, with talks expected to cover bilateral cooperation and maritime security—an angle that also matters for Mauritius given shared Indian Ocean ties.

Mauritius-India Energy Link: NTPC has incorporated a wholly owned subsidiary, NTPC (Mauritius) Energy Limited, in Mauritius (set up on 26 June 2026) with initial capital of MUR 1,000,000, to develop a proposed floating solar PV project with battery storage and explore other power-sector opportunities. Tourism & Air Connectivity: Air Mauritius is pushing non-stop London routes as part of a refreshed “slow luxury” push for wellbeing, sports and MICE tourism, with MTPA and hotel partners in the UK. Regional Media Push: SADC is urging Mauritius and other member states to step up promotion of the 2026 SADC Media Awards to strengthen a shared regional story. Finance & Payments: Coins.ph is expanding into Europe via Clear Junction, and the partnership also highlights Mauritius as part of its broader market footprint. Regional Governance: SADC anti-corruption agencies adopted reforms including stronger independence for anti-graft bodies and faster shift to electronic procurement to cut corruption risks.

SADC Integration Push: SADC Deputy Executive Secretary Angele Makombo Ntumba urged member states to speed up the Single African Air Transport Market, use AI, and build climate-resilient infrastructure to deepen regional integration and growth. SADC Media Awards Drive: SADC communications chief Barbara Lopi called on Mauritius and other member states’ media coordinators and partners to intensify promotion so more countries submit entries for the 2026 SADC Media Awards. India–Seychelles Ties: PM Narendra Modi will visit Seychelles June 27–29 as Guest of Honour for the Golden Jubilee National Day, holding talks with President Patrick Herminie and addressing the National Assembly, with security and maritime cooperation on the agenda. Mauritius Finance Spotlight: A report highlights Mauritius’ role as a gateway financial centre for Africa, pointing to the Mauritius IFC and Variable Capital Companies framework. Banking Expansion: Zimbabwe’s First Capital Bank’s parent received in-principle approval from the Bank of Mauritius to set up a new commercial bank in Mauritius via a 50:50 joint venture. Tourism Perks: Mastercard expanded “Priceless Africa” to nine markets including Mauritius, offering curated travel experiences and cardholder travel benefits. Climate Hope for Reefs: A study presented at the Our Ocean Conference suggests about one-third of the world’s coral reefs could be climate-resilient by 2050.