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Mauritian Banks Seen as Haven as Politics And Oil Roil Peers
- Island nation has adopted policies that may support lenders
- Banks in Nigeria, Kenya, South Africa struggle to boost profit
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Mauritian banks are becoming beacons of growth and stability in sub-Saharan Africa.
Unscathed by the vagaries of the oil price and unhindered by the political battles that have roiled some of their continental peers, the Indian Ocean island’s lenders have been bolstered by an economy growing faster than many of the mainland countries. The central bank expects the Mauritian economy to expand as much as 4 percent this year, compared with International Monetary Fund projections for an average 2.6 percent for the continent.