Connecting our clients to global market opportunities

 1. We note Mauritius is emerging as one of the world's fastest-growing wealth markets, with its millionaire population projected to double by 2033. What sets Absa Mauritius apart for millionaire clients in Mauritius?

As wealth becomes increasingly mobile and globally diversified, clients are placing greater emphasis on cross-jurisdictional expertise in their financial partners. Since entrepreneurial wealth creators with international business interests look to expand from Mauritius to Africa, the ability to navigate complex international tax regimes, succession laws, and regulatory frameworks has never been more important.  

At Absa Mauritius, our value proposition combines a legacy of exclusive wealth services with the strength and scale of the bank. We offer more than just wealth management—we deliver holistic financial stewardship.

This includes: 

• A tailored approach: We take time to understand our clients' lifestyles, ambitions, and expectations—offering personalised service that meets global standards. 
• Enhanced capabilities: Our teams are equipped with deep expertise to deliver exceptional service, backed by our ability to leverage the corporate and business banking balance sheet. 

Our offering stands out through a multifaceted approach tailored to our modern clients’ needs: 

• Entrepreneur-centric model: Integrating business and personal finance to support entrepreneurs whose needs span both spheres. 
• Digital-first, human-enhanced service: Combining self-service digital platforms with expert advice at key decision points. 
• Alternative Investment Access: Curated channels for direct investments tailored to client experience and risk appetite. 
• Cross-border lifestyle solutions: Supporting globally mobile clients with services beyond finance, from tax advisory to relocation assistance. 
• Purpose-driven advisory: embedding impact investing and ESG considerations into every aspect of our advisory approach. 
• A deep talent pool: Our team brings over 200 years of combined experience, reflecting our deep understanding of global and regional wealth dynamics. 

The inauguration of our Wealth Centre in Grand Baie, last September 2024, marks a strategic milestone in the bank's evolution, and we expect this state-of-the-art facility to redefine the wealth management experience. It is poised to elevate the wealth management experience—not merely as a transactional hub, but as a dynamic platform for strategic dialogue. Meticulously designed to embody our clients’ aspirations, it offers bespoke services, sophisticated aesthetics, and deeply personalised engagement.

Our Wealth Centre in Grand Baie, along with the presence of our wealth segment in Port Louis and Ruisseau Créole, collectively position Absa Mauritius as a leader in the wealth management sector, delivering accessible and premium client service to our high-net-worth clientele.

We also believe in keeping our clients close and gaining insights into their experience to constantly improve our service levels. We are steadfastly committed to cultivating enduring relationships with our clients—relationships that deepen through purposeful, face-to-face engagement. Our Wealth segment brings this philosophy to life by curating exclusive client events that foster genuine connection, open dialogue, and profound understanding. These moments are thoughtfully designed to mirror the elevated ambitions of our clients and the quality of service we aim to deliver, reinforcing our role as a trusted partner in their financial journey. 

2. Which assets should HNWIs consider in the current climate? 

Against the backdrop of growing interest in currency diversification, many HNWIs are broadening their portfolios beyond USD-denominated assets, exploring international bonds, foreign currencies, commodities, and other alternative asset classes that are gaining traction. 

• Gold: Amid geopolitical instability, gold remains a preferred safe-haven asset, offering protection against currency devaluation and economic shocks. 
• Private equity an private debt: These alternative assets continue to attract investors seeking higher returns and portfolio diversification through direct company investments and stable income sources. 
• Artificial intelligence (AI): Capital is increasingly flowing into AI-driven companies and funds, as the technology reshapes industries from healthcare to logistics. 
• Defence sector: Rising global security concerns are driving interest in defence and cybersecurity firms, which are seen as resilient long-term investment opportunities. 
• Capital-protected ESG solutions: In response to market volatility, the bank has introduced a capital-protected solution with an ESG focus—offering downside protection while supporting environmental and social impact. 

3. What is the bank’s approach to ESG investing? Is Mauritius moving in the right direction? 

Both external factors such as the pandemic and climate urgency, as well as internal factors such as a generational shift in investor values, are powering the move to ESG investing. In 2014, just 27% of HNWIs considered ESG; by 2022, that number exceeded 53%. Thus, ESG investing has grown from a niche concept to a core pillar of HNWI portfolios.  

At Absa Mauritius, sustainable investing is no longer optional, it's integral. We focus on aligning portfolios with long-term sustainability goals, targeting sectors like renewable energy, green tech, and sustainable infrastructure. As the energy transition accelerates, we see significant upside in companies leading the shift to low-carbon economies, including green bonds and other ESG-focused instruments. 

Looking to Mauritius, we laud the efforts of the central bank, which launched a climate change centre in October 2021 and has followed it up earlier this year by entering into a strategic partnership under the SUNREF – Cap sur la Finance Durable programme to strengthen its sustainable finance framework. This path-breaking initiative is designed to embed climate risk into the core of the country’s financial system and is backed by noteworthy stakeholders such as the Agence Française de Développement (AFD), the Delegation of the European Union, the Mauritius Bankers Association Limited, and Business Mauritius. 

The Bank of Mauritius has noted that key focus areas include the development of climate risk models, integration of these risks into regulatory and macroprudential frameworks, and improved access to climate-related data. At Absa Mauritius, we are actively aligned with this agenda by embedding sustainable finance opportunities into our clients' portfolios. This includes strategic investments in companies leading the transition to cleaner energy, as well as in green bonds and other sustainable financial instruments.

4. What advantages does the Mauritian jurisdiction offer to HNWIs, and how does Absa Mauritius leverage the gateway that the island economy offers to Africa?  

Our deep pan-African presence, global connectivity, and specialised capabilities aligned with Mauritius' regulatory and legal framework provides the bank with distinctive advantages that significantly enhance our ability to attract sophisticated international clientele.  

With Mauritius’ appeal going firmly beyond tax advantages, the value proposition offered by the stable and reputable jurisdiction is particularly key for clients from regions experiencing political or economic volatility:  

• End to end solutions: Modern HNWIs value advisors who can contextualise wealth decisions within broader life transitions and family dynamics. Here, Mauritius’ regulatory environment helps us create integrated solutions that address not just tax efficiency but also succession planning, confidentiality concerns, and legitimate asset protection. 
  
• Robust testing ground: Mauritius is one of the leading African jurisdictions to have adopted regulation for virtual assets, with the VAITOS Act coming into force in February 2022. This pioneering regulatory environment allows us to develop and test sophisticated financial solutions before scaling them across multiple jurisdictions.  
  
• Cohesive hub: To cater for clients who have family wealth distributed across jurisdictions, our Mauritius hub is equipped to coordinate complex arrangements involving multiple financial centres. With our open approach to partnering with the best-in-class service providers in creating structures that support and sustain management of family wealth, we can provide core banking services which complement the core family office offering.  

Combined with our bank’s strong footprint across 14 African markets, Mauritius’ solid reputation and strategic positioning offer a distinct advantage in managing complex cross-border transactions. This unique combination enables us to leverage deep local insights alongside global expertise to deliver seamless, high-impact solutions. 

5. What changes are you seeing in traditional HNWI profiles in Mauritius? 

At Absa Mauritius, our approach is anchored in a simple yet powerful belief: every client is unique. We partner closely with them to understand their ambitions, timelines, and the legacy they aspire to create. Whether they are focused on short-, medium-, or long-term growth, we aim to provide solutions that are relevant, personalised, and future-ready. 

This personalised approach is especially relevant as the HNWI profile in Mauritius continues to evolve, shaped by rising wealth concentration and shifting demographics: 

• Entrepreneurial wealth creation: More wealth is being generated through fintech, digital services, and BPOs than inherited, with founders viewing wealth as capital for future ventures. 
• Cross-border digital nomads: Location-independent professionals are choosing Mauritius for its blend of lifestyle and financial benefits, valuing optionality and flexibility. 
• Pan-African expansionists: Sophisticated business leaders are using Mauritius as a launchpad into African markets, requiring bespoke cross-border solutions. 
• Next-gen inheritors: A younger generation with global education and strong impact values is challenging traditional wealth management, demanding alignment between values and financial strategy. 

To support this shift, we will launch the Wealth Academy—an initiative designed to upskill our bankers and support teams. In today’s rapidly evolving financial landscape, continuous learning is essential to staying ahead of client expectations. This investment in our people underscores our commitment to delivering world-class service and long-term value. 

At Absa Mauritius, we pride ourselves on redefining wealth management in Mauritius by combining deep local knowledge with global best practices, a commitment to sustainability, and a client-first mindset. Through innovative solutions, personalised service, and forward-looking strategies, we aim to empower the next generation of wealth creators and custodians—enabling them to build, preserve, and grow their legacy with confidence.