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The notebook of......

Sunil Kaushal Standard Chartered

In 2016, China was an economy in transition. Internally, growth was moderating, economic drivers were diversifying and its evolution from emerging to developed market was gathering momentum. It has become the largest economy on a purchasing power parity basis and second only to the US in nominal terms. China has also been thrust centre stage, more recently, as a leader in a more open, global and connected world.

Madhavi Ramdin-Clark ACCA

Le métier d’expert-comptable est loin d’être limité à la compilation et l’analyse de chiffres. De par leurs aptitudes, les experts-comptables d’ACCA sont, de facto, des business partners des entreprises et ce sont des cadres indispensables au fonctionnement d’organisations gouvernementales.

Arvind Halkoree

This is the precise question which the Supreme Court was recently called to adjudicate upon, sitting on appeal against a decision of the Intermediate Court 1 . The undisputed facts of the case were that (i) the insured was driving the vehicle under the influence of alcohol, with an alcohol concentration exceeding the prescribed limit; (ii) the insurance policy contained an exemption clause in case of drunk driving; and (iii) the claim was only for material damages. The question which then arises is whether the insurance company was entitled to invoke a breach of the contractual agreement it had with its insured in order to avoid liability towards third parties for material damages.

Rajiv Lutchmiah (Co-founder and CEO, LCF Securities Ltd)

Mauritius has all the right ingredients and DNA to position itself as an International Financial Centre (IFC) of substance. The latter was far too commonly used that we tend to lose track of how Mauritius can jump-start its IFC amid the dawn of a new era with the erosion of DTAA-driven competitive advantage.

Frances McCaw

During the last week, the issue of poor governance has been on the front covers of all the national newspapers. Rarely has a country gone from one bad governance story to another in such a short space of time. For someone like myself who believes in good governance, I ought to be delighted that this issue is being discussed on the front pages of the newspapers. However, this couldn’t be further from the truth.

Joël Clépatre

La quatrième révolution industrielle est déjà en marche et avec elle, une vague numérique, technologique et robotique. Nous savons à présent que 60 % des métiers qui seront exercés en 2030 n’existent pas encore aujourd’hui. La numérisation (digitalisation) et la robotisation ont déjà changé les besoins de compétence dans de nombreux secteurs. Les choses bougent si vite que les métiers qui existent aujourd’hui (pour en citer quelques-uns : Data scientist, Social media manager, Community manager) n’existaient pas il y a 10 ans. Tout est remis en question. Alors que nous assistons aujourd’hui à l’apparition de plusieurs métiers, cette révolution met aussi en péril l’emploi de millions de personnes.

Bruce Ashton

Ever since the dawn of human civilization man has always sought to understand nature and his own place in the scheme of creation. Man has gone far beyond his intelligence capacity to understand his surrounding behaviour and natural instinct, since then life has become a constant learning curve. Since the modernization era, man has been able to adapt to the changing environment and developed new learning abilities that enabled us to read, write, comprehend, retain facts and formulas and regurgitate them back upon demand. 

Siv Potayya

In 1969, Mauritius experienced for the first time a legislation dealing with fixed and floating charges headed the “Loans, charges and Privileges (Authorised Bodies) Act” which specifically created “Fixed charge” and “Floating charge”. 

digital revolution

We publish the second part of the article on digital revolution. The author insists on the importance of streamlining and digitalising public services and also points out a few failings in the private sector.

digital revolution

Mauritius stands on the brink of a technological revolution that will transform the way we live, work and relate to one another. In its scale, scope and complexity, the transformation will be unlike anything Mauritians have experienced before, provided government 7creates the enabling environment. The response to achieving Digital Mauritius is an integrated and comprehensive system, involving all stakeholders from the public and private sectors to academia and civil society, and most particularly government, through the Ministry of Finance. By choosing a consensual approach, more concerned with climbing the next rung in the ambition ladder, the Minister of Finance has missed the full dimension of the Digital Revolution.

Aisha Allee

Recently, our office moved to Ebène; for a Northerner who ferociously resisted the move from the capital city, I surprised myself adoring our new abode. There was every single reason to move to the cyber city but it was plain resistance to change. The drive from the North along the Verdun route is so smooth that I could doze off at 110 km per hour. I also learnt to manoeuvre the sinuous and oft dangerous road diversions with dexterity unbeknownst to me… but awake though. Even the traffic out of Ebène after business hours did not succeed in tampering my enthusiasm; every single day, I cruise through the chaos whilst finding creative ways to get home early resulting in boosting my list of very interesting vulgar words in curious sign languages from fellow drivers on the road.

Notre cour d’appel n’a jamais tranché sur comment lire les articles 1154 et 2202-6 du Code civil. Et voilà que le législateur mauricien vole au secours des consommateurs.

Penny Hack

The present government was elected into power in 2014 under the banner of the “Lepep” alliance, which is constituted of the MSM, PMSD and ML. As the alliance leader, SAJ of the MSM was appointed Prime Minister, and in the same logic of a coalition government, XLD of the PMSD was appointed to the constitutional post of Deputy Prime Minister. Ministers were then appointed from various parties of the alliance following the same electoral mandate, and each Minister was assigned his or her responsibilities by the President, acting in accordance with the written advice of the Prime Minister as provided by section 62 of the Constitution. This was the executive mandate of government.

Yvan Byeajee

Are you genuinely trying to be successful or are you merely trying to avoid failure? Your answer to that question can shed light on the reality of the results you are engineering for yourself, personally and professionally.

Aisha Allee, The Jupiter Drawing Room

J’ai lu avec un vif intérêt la définition de la publicité qu’une personne de la profession légale a donnée dans la presse locale récemment. Il a dit : «Une publicité est destinée à promouvoir ou vendre un produit». En 2016, il y a un besoin urgent de revoir cette définition. Depuis des temps immémoriaux, les annonces publicitaires corporatives ne font pas que de la vente agressive. Elles mettent aussi en exergue la vision et les valeurs des entreprises. Dans cette même veine, nous assistons à une hausse des annonces publicitaires pour susciter l’opinion publique sur des sujets d’intérêt général ou encore pour promouvoir une cause défendue par un groupe.

Raj Khooblall SADC

Over the years, Mauritian businessmen are becoming more and more aware of the vast business opportunities available in Africa. With an impressive economic growth of more than 6%, rising middle-class consumer, huge deposits of mineral resources and vast expanse of arable land, Africa’s potential cannot be ignored. No doubt, the rate of return on investment in Africa is higher than in any other developing countries. But business in Africa is not for the fainthearted and investment on the continent cannot be planned in the same way as business in the Western world; it really demands a completely new mindset.

André Bonieux PwC Mauritius

Finance Minister Hon Pravind Jugnauth gave a mixed bag of reforms today. He started off by saying that we had to be bold. Indeed, he came with a number of promising measures but we feel that he could have done more on the potential reforms.

Dheerend Puholoo PwC Mauritius

The National Budget 2016/2017 focuses on ten key strategies including fostering a wave of modern entrepreneurs, entering a new economic cycle focusing on innovation, boosting exports and private investments, and ensuring macro-economic stability and sound public finances.

Huns Biltoo KPMG

The Mauritius Finance Minister, Hon Pravind Jugnauth, delivered the 2016-2017 Budget speech entitled “A new era of development”. This was against a backdrop of prolonged uncertainties in the Eurozone, the recent confirmation of Brexit and a more complex local context. The sum of parts of this Budget shows a derived sense of comfort in aiming for a stable, albeit unspectacular, growth as opposed to an uncertain high growth. It is commendable that the 2016-2017 Budget has maintained the core philosophy Mauritius is known for, which is to maintain a pro-business and social welfare agenda with measures projecting an outlook where GDP growth rate will be 4.1% in 2017 from 3.4% in 2015/16, and targeting a statutory debt of 50% in 2018, down from the current 65%.

Sattar Hajee Abdoula Grant Thornton

Après une année mouvementée dans la vie du gouvernement « Lepep », le nouveau ministre des Finances, l’Honorable Pravind K. Jugnauth, a pris le taureau par les cornes en s’attelant à répondre aux besoins du secteur privé et du public Mauricien. Ainsi, les ambitieux «méga projets» et les objectifs inatteignables ont fait place nette, laissant le champ libre à des initiatives réalistes et réalisables tant pour la communauté des affaires et le public, que pour la réforme tant attendue des instances publiques. Cela, sans jamais perdre de vue le déficit budgétaire et la dette publique.

 

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