AGP Executive Report

Mauritius Courts & Arbitration: Mauritius Supreme Court has stopped Chappal Energies Mauritius Ltd from proceeding with a planned rights issue, after a challenge by Intermediate Investment Holdings, with the dispute now heading to urgent relief proceedings before an Emergency Arbitrator at the London Court of International Arbitration. Aviation Diplomacy: Mauritius is also named among countries whose bilateral air services agreements were ratified by Ghana’s Parliament, a move meant to boost connectivity and trade. Cyber Governance: Mauritius government is preparing new cybersecurity and cybercrime regulations for critical information infrastructure, with a compliance deadline after the framework’s June 1 enactment and penalties including fines and prison terms. Regional Finance & Connectivity: Kenya’s Nairobi International Financial Centre certified new firms to attract global capital, while India’s UPI expansion and cross-border FX settlement partnerships (NPCI with HSBC India and J.P. Morgan Payments) underline the wider push for faster, more transparent international payments. Global Context: Emirates unveiled a next-generation lounge rollout, with Mauritius slated to get the upgraded concept in August.

Mauritius Fintech Push: Mauritius launched its 2026-2030 National Fintech Strategy, aiming to make the island Africa’s “trusted fintech hub” with six pillars from regulation and cybersecurity to talent, market growth, international collaboration and financial inclusion. Aviation & Accountability: Air Mauritius said its board may refer Kroll’s forensic findings on fleet transactions during its 2020/21 voluntary administration to Mauritius’ Financial Crimes Commission and police, after reviewing the report and keeping details undisclosed. Digital Payments Linkages: India’s UPI keeps expanding: NPCI partnered with HSBC India and J.P. Morgan Payments to enable real-time FX settlement for overseas UPI payments, while UPI also went live in Greece via Eurobank. Connectivity by Air Treaty: Ghana’s parliament ratified bilateral air service agreements with Benin, Saudi Arabia, Qatar, Guyana, Mauritius and Luxembourg, setting a framework for expanded passenger and cargo routes. Regional Policy Watch: Cape Verde ended visa-on-arrival for 96 countries, tightening entry rules that could affect travel flows. Fuel Costs: India cut ATF by Rs 5/litre for domestic airlines from July 1, alongside revised export duties on petroleum products.

Mauritius Fintech Push: Mauritius launched its 2026-2030 National Fintech Strategy, aiming to make the island 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. Cross-Border Payments: India’s UPI kept momentum abroad: NPCI signed new partnerships with HSBC India and J.P. Morgan Payments to enable real-time FX pricing and settlement for international UPI transactions, with Mauritius already among the live countries. Air Connectivity Moves: Ghana’s parliament ratified bilateral air service agreements with Mauritius and five other states, setting the legal basis for expanded passenger and cargo links. Air Mauritius Governance: Air Mauritius said its board may refer Kroll’s forensic findings on fleet transactions during its 2020/21 voluntary administration to the Financial Crimes Commission and police. 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. Aviation Premium Experience: Emirates announced next-generation lounge upgrades, with Mauritius slated for August. Healthcare Deal: Remgro completed its $947m move to take full control of Mediclinic’s Southern Africa operations, which include Mauritius.

Mauritius-Linked Cross-Border Payments: NPCI has partnered with HSBC India and J.P. Morgan Payments to enable real-time FX settlement for international UPI transactions, making overseas QR payments more transparent for Indian travellers; UPI is already live in Mauritius among other countries. Digital Payments Momentum: UPI volumes moderated in June to 22.72 billion (down from May’s 23.20 billion) but still grew 23% year-on-year, with transaction value at Rs 28.92 lakh crore (+20% YoY) and the highest-ever daily average of 757 million. Fuel Export Policy (India): India cut ATF export duties and diesel levies while raising petrol export duties from July 1, and expanded exemptions to include Mauritius and the Maldives—aimed at protecting domestic supply amid West Asia-linked oil volatility. Indian Ocean Diplomacy: External Affairs Minister S. Jaishankar sent greetings to Somalia on its National Day, underscoring continued India-Africa engagement. Business & Regional Links: Dovetail Capital raised ₹100 crore to expand global asset servicing, claiming regulated operations including Mauritius; and Maritimo appointed KJM Marine as its exclusive dealer across the GCC and parts of the Middle East/Indian Ocean, including Mauritius and the Seychelles. Global Mobility Snapshot: The Global Passport Index 2026 ranks Singapore top on mobility (100) and notes Hong Kong’s rebound, with Mauritius not highlighted in the provided top-tier details.

Mauritius-India Digital Ties: India’s UPI has gone live in Greece via Eurobank and NPCI International Payments Ltd, with Commerce Minister Piyush Goyal attending a live demo in Athens; UPI is now available in 10 countries including Mauritius, strengthening cross-border payments for travellers. Mauritius-Global Business: Mauritius showcased its expanding MICE offering at IMEX Frankfurt 2026, with the Mauritius Tourism Promotion Authority pitching the island for conferences, incentive travel and executive retreats, and building a pipeline of new GCC and European opportunities. Mauritius-Linked Finance & Policy: A Mauritius-related pension reform debate continues to draw legal and political heat, with commentary focusing on whether changes to the Basic Retirement Pension and the proposed State Age Pension respect expectations and governance principles. Regional Geopolitics: A renewed push for a “Zone of Peace” in the Indian Ocean is raised amid wider tensions involving the US and Iran, with implications for maritime security and trade routes. Legal/Justice (Mauritius angle): A Calgary father accused of abducting his son and hiding him overseas was released on bail after being detained in Mauritius, with strict conditions including bans on contact and travel near family locations. International Economy: Fuel export “windfall” duties were revised in India from July 1—petrol up, diesel and ATF down—with exemptions expanded to include Mauritius and the Maldives.

Mauritius in the Spotlight: Mauritius Tourism Promotion Authority (MTPA) pushed the island’s MICE push at IMEX Frankfurt 2026, pitching Mauritius as a premium venue for conferences, incentive travel and executive retreats, while also using the fair to build a fresh pipeline of buyers and GCC-focused promotion. Regional Finance & Connectivity: India’s UPI went live in Greece via Eurobank and NPCI International Payments Ltd, with Commerce Minister Piyush Goyal calling it a milestone for instant, low-cost cross-border transfers; UPI is now available in 10 countries including Mauritius. Mauritius Policy Debate: Pension reform coverage continues to frame the fight over sustainability versus the universal Basic Retirement Pension, with commentary warning that rushed changes could strain Mauritius’ social contract and constitutional expectations. UK Defence Politics: In Britain, Keir Starmer’s long-awaited defence investment plan faced sharp Tory criticism as “too little, too late,” with funding gaps for drones and automation highlighted. Global Peace Watch: The 2026 Global Peace Index flags Nigeria, Russia, Israel and the USA among the least peaceful, underscoring how conflict-driven instability is reshaping economic risk.

Mauritius-India Strategic Link: PM Navinchandra Ramgoolam met India’s Narendra Modi on the sidelines of Modi’s Seychelles state visit, with both sides pushing defence, energy, skilling and broader cooperation under the Enhanced Strategic Partnership. Indian Ocean Security Push: Modi’s Seychelles Golden Jubilee trip is framed as a bid to deepen maritime-security ties, including Indian naval participation in the parade and new cooperation on surveillance and regional challenges like illegal fishing, drug trafficking and piracy. Digital Payments Diplomacy: India and Seychelles signed an MoU to bring UPI to Seychelles, aiming to let Indian tourists pay via QR using existing UPI apps—an expansion that already includes Mauritius. Seychelles National Day Spotlight: Modi attended the 50th Independence Day celebrations in Victoria, offered prayers at the Navashakti Vinayakar Temple, and met Seychelles leadership and the Indian diaspora. Mauritius Domestic Politics—Pension Reform Fallout: Mauritius pension reform debate continues to centre on the Basic Retirement Pension’s universality versus fiscal sustainability, with renewed focus on constitutional authority, consultation, and the means-test controversy. Regional Policy Watch: A UNDP paper outlines Africa’s “5Cs” approach to accelerate sovereign digital public infrastructure, stressing political commitment, capacity, sustained capital, community trust and data protection. Trade Talks Update: India’s FTA negotiations with Israel and the GCC are temporarily stalled due to the West Asia crisis, while talks with Canada are “very advanced” and other pacts continue.

India–Seychelles Golden Jubilee Diplomacy: PM Narendra Modi attended Seychelles’ 50th Independence Day, with Indian troops marching and naval ships docking, as New Delhi used the milestone to deepen defence and maritime cooperation. Regional Security & Deals: Modi’s visit featured talks with Seychelles President Patrick Herminie and opposition leader Bernard Georges, plus a package of new agreements spanning health, digital transformation, maritime security, defence and climate, alongside a reported Line of Credit. India–Mauritius Strategic Partnership: Modi met Mauritius PM Navinchandra Ramgoolam in Victoria to review the India–Mauritius Enhanced Strategic Partnership, focusing on defence, energy, cyber security, capacity building and progress under India’s Special Economic Package. UPI Push Across the Indian Ocean: India and Seychelles signed an MoU to bring UPI payments to Seychelles for Indian tourists, with QR-based payments planned to reduce reliance on foreign currency exchange. Mauritius Business & Tourism Angle: Mauritius’ MTPA wrapped up a three-city roadshow in South Africa, pitching new experiences to travel professionals and strengthening B2B links. NSE IPO Dispute: Mauritius-linked investors are mentioned in a legal dispute tied to NSE’s draft prospectus after allegedly mistaken share transfers, raising questions over beneficial ownership and a possible IPO stay.

India–Mauritius Defence & Energy Talks (via Seychelles): PM Navinchandra Ramgoolam met India’s PM Narendra Modi in Seychelles, with both sides pushing cooperation on defence, energy and cyber security, and reviewing progress under India’s Special Economic Package and the India–Mauritius Enhanced Strategic Partnership. Indian Ocean Security Focus: Modi and Seychelles President Patrick Herminie held talks on maritime security, illegal fishing, drug trafficking and piracy, while India reaffirmed support for Seychelles’ development priorities. Parliament Milestone: Modi became the first Indian PM to address Seychelles’ National Assembly, stressing that the Indian Ocean “connects” the region and framing ties as “old friends” rooted in people-to-people history. Mauritius–India Economic/Policy Follow-up: India’s commerce ministry convened stakeholders on June 30 to discuss SEZ reforms and harmonising export promotion schemes—an agenda that can shape Mauritius-linked trade and investment flows. Renewables Finance for Mauritius: Abu Dhabi Fund for Development and IRENA earmarked $25m in concessional loans for solar PV projects in Mauritius and Rwanda, underlining continued regional energy cooperation. Maritime Presence Signals: Indian Navy ships INS Ikshak and others visited Seychelles and Thailand, reinforcing operational cooperation across the Indian Ocean.

India-Seychelles Diplomacy: PM Narendra Modi is in Seychelles for the Golden Jubilee National Day, addressing the National Assembly and stressing the “Indian Ocean as a bridge” and “old friends” ties, while also meeting the Indian diaspora. Mauritius-India Links: India is stepping up regional engagement around the same period, including maritime cooperation that keeps Mauritius in the spotlight. Renewables Finance for Mauritius: The Abu Dhabi Fund for Development and IRENA have earmarked $25m in concessional loans for solar PV projects in Mauritius (and Rwanda), part of a wider push for low-cost clean energy funding. Regional Anti-Corruption Push: SADC anti-corruption agencies adopted reforms to strengthen independence of watchdogs and move procurement to electronic systems to cut discretion and corruption. Local Governance & Community: In Mauritius, a religious leader from Udupi met President Dharam Gokhool to discuss interfaith harmony and spiritual initiatives. Travel & Economy Spillovers: Mastercard’s “Priceless Africa” expands travel experiences to include Mauritius, while UAE visa access updates and summer booking trends keep the Indian Ocean tourism corridor in focus.

Indian Ocean Defence Diplomacy: India’s Eastern Fleet ships Udaygiri, Kavaratti and Shakti arrived at Sattahip, Thailand, to deepen navy-to-navy cooperation and interoperability with the Royal Thai Navy. Regional Security & Goodwill: India’s survey vessel INS Ikshak reached Port Victoria, Seychelles, for the island’s 50th National Day, with defence talks plus medical camps and community outreach. Mauritius-Relevant Energy Finance: Abu Dhabi Fund for Development and IRENA approved $25m in concessional loans for solar PV projects in Mauritius and Rwanda, aiming to expand low-cost renewable power access. High-Level State Visit: PM Narendra Modi is set to visit Seychelles for Golden Jubilee National Day, holding talks with President Patrick Herminie and addressing the National Assembly while engaging the Indian diaspora. Local Governance & Integrity: SADC anti-corruption agencies adopted reforms in Malawi, including stronger operational and financial independence for watchdogs and faster shift to electronic procurement to cut corruption risks. Mauritius Business Footprint: NTPC incorporated NTPC (Mauritius) Energy Limited to pursue a floating solar PV project with battery storage and other power-sector opportunities.

Indian Ocean Diplomacy: PM Narendra Modi lands in Seychelles for a June 27–29 State visit as Guest of Honour for the island’s Golden Jubilee National Day, holding talks with President Patrick Herminie, addressing the National Assembly, and meeting the Indian diaspora—framed by India as a boost to maritime cooperation and “Vision MAHASAGAR.” Regional Governance & Anti-Corruption: SADC heads of anti-corruption agencies adopted reforms in Malawi to strengthen agencies’ operational and financial independence, push electronic procurement to cut discretion, and deepen regional cooperation on asset recovery and transparency. Customs & Data Policy: The World Customs Organization council discussed “data as a strategic asset,” stressing governance, capacity building, and trust so customs can use data effectively beyond just tools and analysis. Mauritius Business/Energy: NTPC incorporated NTPC (Mauritius) Energy Limited to develop a floating solar PV project with battery storage and explore further power-sector opportunities in Mauritius. Local Interfaith & Leadership: In Port Louis, Udupi’s Shri Sugunendra Theertha Swamiji met Mauritius President Dharam Gokhool, discussing interfaith harmony and receiving an invitation to visit Udupi. Finance & Payments (Regional): Mastercard expanded Priceless.com into Africa, adding curated travel experiences including Mauritius, while India’s UPI/ RuPay push continues to deepen cross-border payment links in the region.

Chagos & UK security reshuffle: Sir Keir Starmer’s national security adviser Jonathan Powell is set to stay on under Andy Burnham, despite scrutiny over his past China links and the Chagos deal—fueling fresh political controversy. Mauritius-India legal stakes: The English Court of Appeal upheld that ratifying the New York Convention doesn’t automatically waive sovereign immunity in enforcement of arbitration awards in the Devas (Mauritius) v India case. Indian Ocean diplomacy: PM Narendra Modi will visit Seychelles (June 27–29) as Guest of Honour for Golden Jubilee National Day, with talks expected to deepen maritime security and economic cooperation—an issue that also resonates for Mauritius as regional influence grows. Regional anti-corruption push: SADC anti-corruption agencies adopted reforms to strengthen agencies’ independence, speed up e-procurement, and boost asset recovery and regional cooperation. Energy investment signal for Mauritius: NTPC incorporated NTPC (Mauritius) Energy Limited to pursue floating solar plus battery storage, marking a renewed push into Mauritius’ renewables pipeline. Local interfaith engagement: Udupi’s Puthige seer met Mauritius President Dharam Gokhool, discussing interfaith harmony and inviting him to Udupi.

UAE Travel Policy: The UAE has expanded visa-on-arrival to citizens of the Philippines, Thailand, Indonesia, Vietnam, South Africa and Kenya, with access tied to holding residence permits from major countries—an expected boost for tourism and business travel. Indian Ocean Security & Diplomacy: Prime Minister Narendra Modi will visit Seychelles from June 27–29 as Guest of Honour for the Golden Jubilee National Day, with talks on maritime security and cooperation; India is also set to hand over a patrol vessel. Regional Integration Agenda: SADC urged member states to speed up SAATM, use AI, and invest in climate-resilient infrastructure to deepen “liberalised skies” connectivity. Mauritius Finance Spotlight: Mauritius was highlighted as a leading African financial hub, with the Mauritius IFC and VCC structures supporting cross-border investment. Legal/Arbitration Watch: The English Court of Appeal confirmed that ratifying the New York Convention does not automatically waive a state’s adjudicative immunity in enforcing arbitration awards. Anti-Fraud Court Case: Nigeria’s EFCC continued testimony in a $1.5m alleged investment fraud case involving Mauritius-linked entities. Business & Travel Perks: Mastercard launched “Priceless Africa” across nine markets including Mauritius, offering curated experiences for cardholders.

UNCTAD & Geopolitics: UNCTAD warns that Middle East-driven geopolitical tensions are now reshaping global markets more than trade policy, with oil and gas price shocks feeding wider economic disruption. Golden Visas: Demand for Europe’s “golden visa” style residency pathways is rising as nationality rights tighten, while rules keep shifting and EU court challenges loom. Mauritius-India Maritime: Mauritius and India are moving ahead with a $1bn container terminal under a government-to-government deal, aiming to deepen transshipment links across the Indian Ocean. Regional Finance: Bank of Mauritius has given in-principle approval for Zimbabwe’s First Capital Bank parent to set up a new commercial bank in Mauritius via a 50:50 JV. Travel & Tourism Tech: Mastercard expands “Priceless” into Africa, including Mauritius, offering curated experiences and cardholder travel benefits across nine markets. Legal/Anti-Corruption Watch: Nigeria’s EFCC continues its IIHL boss prosecution over an alleged $1.5m investment fraud, with controversy trailing the case. Maritime Security: INS Tarkash wraps up its Mauritius port call, strengthening maritime cooperation and training with the Mauritius National Coast Guard.

Mauritius–Finance & Banking: The Bank of Mauritius has granted in-principle approval for FMBcapital Holdings to set up a new commercial bank in Mauritius via a 50:50 joint venture with Rogers Global Financial Holdings, aiming to deepen cross-border banking links between Mauritius and southern Africa. Mauritius–Maritime Strategy: India’s INS Tarkash has departed Port Louis after training the Mauritius National Coast Guard and hosting people-to-people activities, reinforcing maritime cooperation in the South West Indian Ocean. Mauritius–Trade & Infrastructure: India and Mauritius are moving ahead with a $1bn container terminal project under a government-to-government arrangement, with Mauritius Ports Authority set to issue a second licence to an international operator. Chagos Islands (UK–Mauritius): UK Attorney General Lord Hermer says Labour is still “determined” to sign the Chagos handover deal to Mauritius in coming weeks, despite US support being pulled earlier. Global Governance & Law: Nigeria’s EFCC faces fresh controversy as it prosecutes IIHL boss Ufoma Immanuel over an investment dispute, while also filing terrorism-financing and money-laundering charges against Bello Bodejo. Regulation & Economy: Nigeria’s new CBN/SEC fintech rules are splitting industry opinion, and experts urge Ghana to measure development beyond GDP. Religion & Diplomacy: Religions for Peace selected Abu Dhabi to host its 2027 World Assembly, with Mauritius having hosted the 2026 council meeting.