Because of the business potential avaiable in the African continent, a number of Indian financial institutions is setting up shop in Mauritius. The island nation in the Indian Ocean is considered as one of the most prosperous nations in Africa. Now, it is seen by foreign firms as the jump off point to undertake business activities into other economies.

According to Mauritius Bankers Association CEO Aisha C.Timol, in an interview with PTI confirmed that an increasing number of Indian banks have indicated their interest in opening a branch in the country to reach out and ride the possibilities offered by Africa. She did not disclose specific details though. Aside from the three branches of the State Bank of Mauritius, there are two Indian banks that operate in the country, namely the State Bank of India and Bank of Baroda.

Timol said, "We are positioning ourselves as the gateway to Africa. The banking sector is supporting this initiative. The sector is profitable and is doing well. But generally Mauritius is very much exposed to Europe in terms of its export oriented industries. This has little bit of concern for us in tems of effects ont he banking sector."