The country has been putting in place measures to ensure corporate accountability and governance making it one of the attractive destinations in Africa.
(READ MORE: Policies to improve Mauritius’ties with West Africa)
Globally, Mauritius is ranked in the top 20 on Overall Ease of Doing Business 2013 and is on the top of Africa’s Sub-Saharan economies.
“In Mauritius, we have made sure that we deal with various aspects of corporate governance at the political, the economic and the institutional level,” Mauritius’ chief executive of the Financial Services Commission (FSC), Clairette Ah-Hen told CNBC Africa.
“The important thing to note is that without good governance you cannot have economic development that we are expecting,” she added.
Ah-Hen noted that her commission had done everything that is required to demonstrate good governance.
“When we started looking at the corporate governance landscape in Mauritius, we started with the World Bank assessment based on OECD principles.”
Organisation for Economic Co-operation and Development (OECD) is a forum of countries committed to providing a platform to compare policy experiences and identifying good practices and coordinate domestic and international policies of its members.
Ah-Hen also added that Mauritius had learnt invaluable lessons when the world went through the global financial meltdown of 2008.
According to the African Economic Outlook, Mauritius has benefited from wide-ranging structural reforms since 2006 and sound macroeconomic management during the global economic crisis.
This has seen Mauritius in 2013 overtaking South Africa to become the most competitive economy in sub-Saharan Africa.
“What we have learnt from the financial crisis is that all boards should pay attention to risk management, “she said.
The country, in bid to lure foreign direct inflows, has put in place mechanisms that resonate with global standards.
(READ MORE: Mauritius poised as next emerging market giant)
“If you are thinking of global investors you must adopt standards that are understood by all parties and investors.”
“It is essential for regulators to understand the needs of stakeholders in order to ensure that all investors remain in the country as it would be a safe place to do business.”
Ah-Hen noted that Mauritius should continuously revise the business codes so that they reflect various business practices.