1. Could you give us a brief overview of your entrepreneurial journey, especially your experience with Banlaw Africa Group and its development over the years?
The story of Banlaw Africa begins around the year 2000. Although I had already been in West Africa for several years, I formally started trading as Banlaw Africa in Ghana in 2000. It began as a small business and gradually expanded as we gained more work and contacts with major global mining companies such as Goldfields and Newmont.
We didn’t work directly with local companies in the gold mining sector, though we sourced supplies from them and supported their development. Our projects grew across West Africa, from Ghana to Burkina Faso, where we became the first contractor to work on the Perkoa Zinc project, followed by several gold mining projects. We later expanded into Côte d'Ivoire, working again with Cluff Gold and Newcrest Mining from Australia.
As we grew, we needed a proper holding structure. After evaluating Mauritius, Seychelles, and the Cayman Islands, we chose Mauritius as the ideal base for our holding company due to its favorable tax and governance environment. We partnered with Port Louis Management Services (PLMS), who did an excellent job setting up and managing our corporate structure.
Over time, we extended our operations into the Democratic Republic of Congo, building a gold mine under contract at Twangiza in the South Kivu Province. Initially, I was hesitant due to governance challenges, but after assurances from a former managing director of Goldfields who was a consultant for the mine, we took on the project. It was successful, and when the operation was taken over, we sold our stake, the proceeds of which were paid directly into Mauritius, marking our first major success from the island’s efficient financial framework.
Later, we worked in Liberia on a $50 million infrastructure contract with ArcelorMittal. It was progressing well until the Ebola outbreak, which forced a halt under force majeure. That period was challenging and eventually led me to sell off Banlaw’s assets and transition to a more investment-focused life based in Mauritius.
Now, I manage my investments primarily through the ASX in Australia, with Mauritius as my operational and tax domicile. The absence of capital gains tax has been advantageous, allowing me to continue what I call “armchair mining”, investing mainly in the gold sector without the operational burdens of managing heavy equipment or large teams.
2. With Mauritius being part of Africa and having many tax treaties, what would you say are its main advantages as a base for entrepreneurs and investors?
Mauritius offers a robust and transparent tax regime, which was a major reason for choosing it as our holding base. Establishing our structure here was smooth, PLMS handled everything compliantly, and I’ve continued working with them for over 15 years.
Banking facilities are also excellent. I’ve been with Afrasia Bank for nearly a decade, and it has been seamless in handling multi-currency transactions worldwide. I’ve also been involved with Intrasia Wealth Management, which plays a key role in wealth and inheritance planning here. Interestingly, Intrasia was one of the founding shareholders of Afrasia Bank.
Mauritius has evolved significantly, it’s now a premier destination for high-net-worth individuals. The regulatory framework is clear, the services are world-class, and lifestyle-wise, it’s extremely comfortable.
3. How do you view Mauritius’s regulatory and fiscal framework compared to other jurisdictions?
As far as my personal domicile is concerned, I’ve looked at several alternatives, the Channel Islands, Gibraltar, the Caribbean, and the Isle of Man. While each has its merits, Mauritius stands out for its balance of affordability, stability, and ease of doing business.
Although it’s geographically part of Africa, Mauritius is streaks ahead of the continent in terms of governance, efficiency, and professionalism. The authorities are firm but fair, and provided you work within the compliance framework, doing business becomes very smooth.
I’ve never felt unsafe here, it’s an easy place to live and work. From a tax and operational perspective, Mauritius simply works.
4. From your experience, what sectors or asset classes in Mauritius or the region offer the most promising opportunities for investors?
Holding companies remain the backbone of Mauritius’s economy. The number of international businesses registered here is remarkable, you’ll find a wide range of global names operating from the island.
Beyond that, real estate, construction, and infrastructure present great opportunities. The quality of construction is superb, and the sector continues to grow. Personally, I’ve chosen not to invest in property here due to my age and the recent increase to 20% levy on real estate purchases, which is not unreasonable and aligns with the government’s policy to attract high-net-worth residents and encourage spending within the economy.
5. How do you see Mauritius evolving as a base for entrepreneurs, high-net-worth individuals, and family offices looking to expand into Africa or Asia?
Mauritius is absolutely a “go-to” destination for such investors. It’s strategically positioned between Africa and Asia and offers capital gains and inheritance tax exemptions when structured correctly.
What’s remarkable is the human capital, the Mauritian professionals I work with are exceptionally bright and creative. Many have studied or worked abroad, bringing a global mindset back home. The country has over 50 universities and a highly educated workforce, which supports its growing financial services and wealth management sectors.
Additionally, the rise of digital nomads and remote working entrepreneurs has added a new dynamic. Many couples relocate here, work remotely, and enjoy the island’s lifestyle while benefiting from its fiscal advantages.
6. Finally, what message would you like to share with Khaleej Times readers about your experience as an investor in Mauritius, and why do you believe it remains one of the best-kept secrets for global entrepreneurs?
First of all, if you’re looking for a low-tax domicile, whether for your business or for yourself, consider Mauritius very, very seriously. It offers an exceptional balance between lifestyle, governance, and opportunity.
It’s safe, well-managed, and forward-thinking, truly one of the best-kept secrets for global entrepreneurs.
.png)
