Introduction to Islamic Capital Markets and Investment Solutions
December 4, 2025
Suneeta Motala appointed as Deputy Chief Executive Officer of Stewards Investment Capital
December 18, 2025Introduction to Islamic Capital Markets and Investment Solutions
December 4, 2025Suneeta Motala appointed as Deputy Chief Executive Officer of Stewards Investment Capital
December 18, 2025The Rise of Mauritius
Published on 11th December 2025
Mauritius’ leading banking and wealth management institution, Mauritius Commercial Bank (MCB) and boutique investment advisory firm Stewards Investment Capital have teamed up with wealth intelligence group New World Wealth to review the fastest growing wealth hubs in the world.
Thanks to its thriving financial services sector, solid tech infrastructure, competitive tax rates, and most critically its strong safety & security when compared to its neighbours, Mauritius is perfectly positioned to become the world’s next big millionaire hotspot.
According to New World Wealth’s latest in-house indices, over the past decade (2015 to 2025), total investable wealth held in Mauritius has risen by +67%, making it the fastest growing market in Africa over this period. Growth in the centi-millionaire segment has been especially pronounced at +150%.
For our purposes “millionaires” or “HNWIs” refer to individuals with liquid wealth of USD 1 million or more. There are approximately 4,800 such individuals currently living in Mauritius as at June 2025, including 14 ultra-wealthy centi-millionaires. Source: New World Wealth.
Perhaps most notably, Mauritius ranks as the wealthiest country in Africa on a per capita basis (USD 40,800), well above 2nd placed South Africa (USD 11,700). Wealth per capita (average wealth per person) is arguably the best gauge of the true financial health of an economy so this is key. The countries & territories with the highest wealth per capitas globally include Monaco, Cayman Islands, Bermuda, Luxembourg and Switzerland.
Thierry Hebraud, Chief Executive Officer of MCB said:
"Mauritius’ strategic location as a safe, trusted and competitive financial centre reinforces its position as a key business enabler between Africa and the world. At MCB, we continue to strengthen our regional footprint, leveraging the strategic anchoring of the Mauritius International Financial Centre (MIFC) to connect businesses and markets across Africa. Through our strategically located hubs in Johannesburg, Nairobi, Lagos, Paris, and Dubai, our focus remains on facilitating trade corridors and supporting companies in structuring transactions that drive long-term value creation."
Why is Mauritius appealing to high-net-worth individuals?
Bilal Adam, Chief Executive Officer of Stewards Investment Capital, added:
“The Mauritius IFC serves as a bridge between capital and opportunity. With its robust economic framework and strategic location, the country is an ideal hub for bridging African and developed markets. Mauritius’ unique positioning allows Stewards to facilitate the flow of capital between these regions, providing African capital access to developed markets and helping developed markets gain exposure to Africa. Mauritius’ credibility, reliability and robust banking system continue to attract institutional investors, including major African pension funds seeking a stable, strategic gateway for sustainable investment.”
Luxury Tourism Hub:
- Several major luxury hotel groups are based in Mauritius, including LUX, Beachcomber and Constance.
- Air Mauritius offers direct flights to many of the world's key cities including London, Paris, Dubai, Geneva and Cape Town. This sets Mauritius apart from most other island states.
- Mauritius is a popular snorkeling and scuba diving hotspot for HNWIs from Europe and Southern Africa. Affluent travelers often combine travelling to Mauritius with trips to nearby South Africa, Madagascar and Reunion.
- Mauritius is home to several beautiful bird species that are unique to the island including the Mauritius Fody, the Mascarene Paradise Flycatcher and the iconic Mauritius Kestrel, which was brought back from the brink of extinction. See our Iconic Birds of the World series for more information.
Notes & definitions:
For the purposes of this report:
- The terms ‘millionaires’ or ‘high-net-worth individuals’ (HNWIs) refer to individuals with wealth of USD 1 million or more.
- The term ‘centi-millionaires’ refers to individuals with wealth of USD 100 million or more.
- For our purposes “wealth” refers to an individual’s liquid investable wealth, which includes listed company holdings (equities), ETFs, cash, bonds, gold, and crypto holdings - namely, items that can be cashed in quickly.
- All figures as at June 2025.
This is the 3rd feature in our “emerging wealth hubs” series. Please see our previous features on the rise of Dubai and Florida here.
About MCB
Anchored on more than 186 years of accomplishments, The Mauritius Commercial Bank Ltd (MCB) is the leading bank in Mauritius and the main entity of MCB Group. Over the years, MCB’s diversification strategy has ensured it becomes an increasingly prominent financial services player in the region. Backed by a large shareholder base of local and foreign investors and the highest market capitalisation on the local Stock Exchange, the Group wields a sound business model, which has enabled it to successfully tap into the potential of non-banking financial services whilst consolidating its domestic banking operations and expanding beyond local shores. Today, MCB provides a comprehensive range of products and services, including Transactional Banking Corporate & Institutional Banking, Private Banking & Wealth Management, External Asset Managers & Financial Intermediaries, Global Markets & Treasury Management, Investment Banking and Private Equity. MCB is also a regional bank with a widening international foothold and presence spanning Madagascar, Maldives, and Seychelles through dedicated subsidiaries, as well as Réunion Island, Mayotte, France, South Africa, Kenya, Dubai, and Nigeria via its associates and regional hubs. The Group also strongly commits to having a long-term positive economic, social, environmental, and cultural impact.
For more information on MCB, please visit mcbgroup.com
About Stewards Investment Capital
Stewards Investment Capital is a boutique investment advisory firm with a track record of over 25 years under the Stewards Group of Financial Companies. Strategically positioned in Mauritius, South Africa, and the USA, we tailor niche investment solutions to high net worth individuals and institutional investors.
Guided by a high-alpha approach and fuelled by a passion to be a catalyst for growth, our commitment to our investors is rooted in our mission to grow and nurture their wealth, building lasting fortunes and creating enduring legacies to achieve real freedom. This endeavour is powered by our team of passionate investment professionals, each contributing decades of experience and expertise to our firm.
Honoured by Global Private Banker and Global Finance, we continue to build and nurture close relationships with our investors, delivering unparalleled excellence through our innovative offerings and remaining a global investment partner of choice.
For more information on Stewards Investment Capital, please visit stewardsinvestment.com
About New World Wealth
New World Wealth was established in 2013 and has been tracking the movements and spending habits of the world’s wealthiest people for over a decade. The firm has an impressive track record in providing robust, reliable wealth data and insights for key publications, such as the Africa Wealth Report and the World’s Wealthiest Cities Report.
New World Wealth’s reports and findings have been referenced by the Australian and UK governments, as well as by global news outlets such as CNBC, BBC, Bloomberg, CNN, Forbes, Robb Report, and the Daily Telegraph.
For more information on New World Wealth, please visit newworldwealth.com
