This article was written by Priyesh Daya in collaboration with Jason Harel (partner) from Mauritian law firm, BLC Robert & Associates.
On 12 November 2024, the final results of Mauritius' General Elections were announced. The opposition party, Alliance du Changement (Alliance for Change), emerged victorious, securing 62.6% of votes and winning all 60 parliamentary seats. The leader of the Alliance for Change and the incoming Prime Minister is Navinchandra Ramgoolam, who previously served as Prime Minister from 1995 to 2000 and again from 2005 to 2014.
The former government has graciously accepted this momentous defeat, exemplifying Mauritius' firm commitment to democracy and financial stability.
Key policy changes that Ramgoolam has committed to implementing include dismantling the country's "spying system"; putting an end to the rising cost of living by implementing measures to monitor the value of the rupee and lifting Value Added Tax on basic commodities. Other measures include eradicating nepotism, corruption and repression and ensuring institutions operate in an independent and accountable manner; increasing pensions; introducing free transport and internet services; and reducing fuel prices.
The new government's economic policy will focus on increasing economic productivity by stimulating the growth of the country's existing economic pillars, as well as reducing the importation of fossil fuel by investing heavily in renewable energy. The drive for growth will mainly be focused on the financial services sector, given its ability to increase rapidly and its prospects to help Mauritius realise its full potential as an International Financial Centre.
The provisions of the constitution of the country will also be amended with an aim to further deepen democracy as well as provide for the protection of the environment (particularly in view of the global shift towards a greener future).
BLC Robert & Associates and Webber Wentzel are available to address any queries that clients may have regarding possible policy changes and the impact thereof on businesses.
