In: Finance | October 2017
MITCO, our Trust and Corporate Services Group, extends its network on the African continent. This subsidiary of CIEL Finance Limited has opened three international representative offices in Africa in August. With offices in Durban (South Africa) and in Seychelles, MITCO is now present in Abidjan (Ivory Coast), in Nairobi (Kenya) and in Johannesburg (South Africa).
The ambition of MITCO, through these representative offices, is to act as a facilitator for the structuring of investments and assets in these countries. Kenya, Ivory Coast and South Africa show much prospect for the future and a high potential for growth in a number of economic sectors. “The financial services sector is facing numerous challenges from the international community and this sector necessitates not only consolidation to ensure the international norms are being adopted in an enhanced manner, but also innovation and development”, explains Mr Robert Hovenier, the Chief Executive Officer (CEO) of MITCO.
MITCO understands these stakes and consolidates its position by getting closer to its clients and business partners across high potential markets and regions. This strategy is in line with that of the CIEL Group, which continues to expand its activities and investments in Africa.
Mauritius continues to carry on its path in the international area to improve our financial services sector. The country further improved its ranking in the 22nd edition of the Global Financial Centres Index in September, thus strengthening its positioning as a financial platform of choice in Africa. Indeed, Mauritius now ranks 69th out of 92 international financial centres.
Moreover, Mauritius has been rated as an OECD Compliant jurisdiction on 21 August. This positive rating followed a review process conducted by the Global Forum on Transparency and Exchange of Information for Tax Purposes. This assessment was meant to evaluate the compliance with international standards regarding the exchange of information on request amongst tax authorities.
The aim for MITCO is to assist its clients using Mauritius as a platform for structuring their investments, in Africa and internationally.
In parallel to its international expansion, MITCO provides for tailor-made services to its clients. “We are offering turnkey services to our clientele from project management, technical assistance, structuring, professional outsourcing to marketing services. Our aim is to provide clients with a global solution and to become a single point of reference to investors wishing to establish, achieve and expand their business goals,” underlines the CEO of MITCO.