What are the challenges?
Challenges when doing business in Mauritius
Compared to other African countries the risks of doing business in Mauritius are low. However, there may be some challenges finding suitably-qualified personnel in a few specialised sectors such as ICT.
Local labour law can be complex and it is recommended that you hire highly-qualified HR personnel. You may also wish to use a local partner when bidding for some large contracts.
You should ensure you take the necessary steps to comply with the requirements of the UK Bribery Act. See: https://www.gov.uk/government/publications/bribery-act-2010-guidance.
[Source – DIT/FCO/gov.uk]
Bribery and corruption
Bribery is illegal. It is an offence for UK nationals and bodies incorporated under UK Law, to bribe anywhere in the world. In addition, a commercial organisation carrying on a business in the UK can be liable for the conduct of a person who is neither a UK national or resident in the UK or a body incorporated or formed in the UK. In this case it does not matter whether the acts or omissions which form part of the offence take place in the UK or elsewhere.
In 2017, Mauritius was ranked 54th out of 180 countries in the Transparency International’s Corruption Perceptions Index. The country is often cited as Sub-Saharan Africa’s example of good governance and democracy. Mauritius is ranked first for good governance in Africa according to the 2017 Mo Ibrahim Index of African Governance. The 2017 Democracy Index compiled by the Economist Intelligence Unit, that measures the state of democracy in 167 countries considers Mauritius as a full democracy ranking it 16th worldwide and first in Africa.
During the past years, Mauritian Governments have implemented anti-corruption measures, including the introduction of new legislation and the establishment of the Independent Commission Against Corruption (ICAC) in 2002.
You can find information on the UK Government’s website on bribery and corruption at: https://www.gov.uk/anti-bribery-policy.
[Source – FCO Overseas Business Risk/gov.uk]
UK Export Finance (UKEF) helps UK companies to get paid by insuring against buyer default.
Be confident you will get paid for your export contract. Speak to one of UKEF’s export finance advisers at: https://www.gov.uk/government/publications/find-an-export-finance-manager for free and impartial advice on your insurance options, or contact one of UKEF’s approved export insurance brokers at: https://www.gov.uk/government/publications/uk-export-finance-insurance-list-of-approved-brokers/export-insurance-approved-brokers.
Currency risks when exporting
If you have not fixed your exchange rate you have not fixed your price.
You should consider whether the best option for you is to agree terms in Sterling (GBP) or Mauritian Rupees in any contract. You should also consider getting expert financial advice on exchange rates (sometimes called FX).
[Source – DIT/UKEF/gov.uk]
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