CNBC To Open Business News Bureau In Mauritius

CNBC To Open Business News Bureau In Mauritius

CNBC Africa,  the continent’s largest business TV news channel, will launch its 11th African bureau in Mauritius July 11 as part of an effort to widen its African reporting footprint, according to a report in Business Ghana.

The country’s economic performance in the past few years, its role in attracting investment to Africa and its strong reformist agenda all contributed to the decision to open a bureau there, said Godfrey Mutizwa, CNBC Africa’s Chief Editor, according to the report.

The bureau will be in the Mauritian capital city of Port Louis.

Described as Africa’s “miracle economy,” Mauritius is credited with transforming in one generation from dependence on sugar exports to services such as tourism, financial services and information technology, the report said.

But the economy, while it has held up well against global economic turbulence, is starting to show some vulnerability in the face of the European financial crisis, according to Business Ghana.

The country’s gross domestic product rose 3.3 percent in 2012, down from 3.8 percent in 2011. Forecasts for 2013 and 2014 show a “gradual recovery” with the growth rate rising to 3.8 percent and 4.2 percent respectively.

“Mauritius is an important addition to our coverage map,” Mutizwa said. “From Mauritius, we hope to follow the East Asia money that we have seen coming into the continent as well as the country’s efforts to maintain its remarkable economic advance.”

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CNBC Africa has bureau offices in Johannesburg and Cape Town, South Africa; Nairobi, Kenya; and Abuja and Lagos, Nigeria, according to its website.