Andrew Henderson: “Mauritius and the UK can improve synergy in the financial services sector”

The recently launched UKTI office in Mauritius aims to generate around 5 million pounds’ worth of trade flows between the two countries annually. The British Trade Commissioner for  the Southern Africa region elaborates on the attractiveness of Africa for British business.

BUSINESSMAG. You have recently launched the United Kingdom Trade and Investment (UKTI) office in Mauritius, which is a UK Government department working with  businesses based in the United Kingdom to ensure their success in international markets. What role can it play in boosting international trade between Mauritius and the UK?

We have set up a regional network based on my team in South Africa to cover the Southern African Development Community (SADC) region. The aim is to bring the teams together to ensure that we actually maximise the impact that the UKTI teams can have in expanding trade between the UK and the region. We have two trade and investment officers specifically here in Port Louis and we will be supporting them as they aim to work with our Mauritian trade and investment contacts.

BUSINESSMAG. What are the sectors the UKTI Mauritius office will be targeting?

There are a number of sectors in which Mauritius is already very strong. Education is one of them and we are delighted that there are now four UK academic institutions that have set up camp here.

Mauritius has traditionally been strong in the financial services arena and this is something the city of London is also very good at. Thus, there are real opportunities for synergy between our two countries in this sphere.

There are always other opportunities in consumer products, such as food and drink or automobile. I know Mauritius is very keen to develop its ocean economy and I have asked the team here to look into real business opportunities coming out of this aspiration very carefully.

BUSINESSMAG. Can you give us some rough estimates in terms of figures?

I am about to set the team quite challenging targets for the next year in terms of the number of interactions they are expected to have with British companies coming into the market and Mauritian companies looking to do business and hopefully invest in the UK. I would expect them to have around 200-250 interactions with British companies each year to land deals of around 5 million pounds yearly (Rs 250 million).

BUSINESSMAG. How can the volume of exchanges between Mauritius and the UK be increased?

By knowing more about each other. It is important for British companies to learn more about the opportunities available here. You are well known as a tourist destination and some people in the UK know Mauritius as a financial services centre. There are not however, many people that are aware of the totality of the opportunity that exists here. The openness and the willingness to do business with the UK and the extent of people speaking the English language for example, would be a surprise to many people over there. So I think the answer would be communication, information, knowledge about each other and exchanges between people.

BUSINESSMAG. One of the aspects of the UKTI package is e-selling. Can we look forward to it being extended to Mauritius?

E-selling and e-purchasing have grown exponentially in the UK. People tend to have a look at the shops and then go back home and order it online. It is a growth industry throughout Africa and something we would like to have a good look at here. Our contacts in South Africa dealing in e-selling operations, such as Naspers, have ambitions of developing their presence in the rest of Southern Africa. The issue around e-selling is of course how to receive the goods ordered. It requires very good postal services or alternatives forms of delivery.

BUSINESSMAG. You have acquired experience working in several countries such as Brazil, Algeria, USA and Angola. On that basis, what will be the countries and sectors responsible for global growth in the years to come, and why?

I think everyone would immediately go to China for a res-ponse to that question. The focus is also on a number of the top emerging markets such as India and Brazil but also places like Turkey and Mexico.

Africa is the big untapped continent for us at the moment. We are putting a lot of energy into pulling together teams that are able to identify the opportunities on the African continent. I see great opportunities for growth here and for British business. Africa is the big place right now for me.

Sectorwise, I would say that education underpins everything that wedo. Education and training skills is a big growth sector for us throughout Africa. After this, growth really depends on the individual markets. Oil and gas is strong in countries like Angola and Mozambique while mining is strong in Tanzania, Nigeria or Ghana. 

Financial services are obviously strong here in Mauritius, and in South Africa and Kenya as well. There are numerous sectors where the UK has an offer to make to emerging economies of Africa and this is what we are trying to do.

BUSINESSMAG. Is the UK market accommodating enough to give access to Mauritian enterprises?

I think it is sound business sense. If Mauritian companies come to the UK with good quality products at the right price, they will find a market. The UK is open for business and from what I’ve noticed during my trip to Mauritius; the country is open for business too. We just have to put these people together.

BUSINESSMAG. Mauritius traditionally suffers from an unfavourable trade balance when it comes to exchanges with other countries. How can we achieve a balance in terms of trade?

It is difficult to engineer that balance and this disparity exists all over the world. The UK is still importing more than it is exporting and there is a really serious drive going on at the moment to get more companies into exporting. UKTI has set itself the target of having a 100,000 more companies exporting by the year 2020 and this is a big challenge. You’ve just got to work at finding those niche areas where what you produce and manufacture is of interest to other markets and keep working on it.

BUSINESSMAG. What are your thoughts on the UK-India consolidation of ties?

We are all and always in favour of strong economic and political relations between countries. I’m a diplomat, that’s the game we are in – we would look to try and resolve tensions where they are present. A strong relationship between the United States and India is good for the two countries and for the region.  I am pleased at the progress that’s being made and we look to solve crises and tension wherever they exist. I wish this relationship well.