The Deputy Prime Minister, Mr. Paul Raymond Bérenger, welcomed the newly appointed Chief Executive Officer (CEO) of the Financial Services Commission (FSC), Dr. Désiré Vencatachellum, during a courtesy call on Wednesday 23 July 2025, in Port-Louis. Present at the meeting was also the Minister of Financial Services and Economic Planning, Dr. Jyoti Jeetun.
Following the meeting, Minister Jeetun announced that the Ministry has developed a Strategy Report for the Financial Services Sector (2025–2030), a comprehensive document outlining the sector’s key challenges, priorities and strategic directions. The report is built around five main pillars: improving the ease of doing business; diversifying and modernizing financial products; enhancing the brand identity of the Mauritius International Financial Centre (IFC) and strengthening its international market presence through targeted promotional strategies; expanding target markets with a dedicated Africa Strategy and addressing human capital gaps by aligning training, improving incentives, and engaging diaspora talent.
The Minister emphasized the crucial role of the FSC in implementing this strategy effectively. She expressed confidence that Dr. Vencatachellum’s extensive experience and network, particularly in Africa, will help elevate the FSC and drive the sector forward.
In his remarks, Dr. Vencatachellum expressed gratitude for the confidence placed in him to lead the FSC, describing it as a vital institution for ensuring stability, integrity and growth within the financial sector. He highlighted Mauritius’s vast potential and rich talent pool, emphasizing that “harnessing this strength will be key to advancing our financial ecosystem”.
He also underscored Mauritius’s strategic position as a vibrant gateway between Africa and Asia, emphasizing the importance of building long-term value and ensuring the FSC remains resilient and adaptable for the future. “We need to shape an FSC that is not only relevant for today’s challenges but also resilient and forward-looking towards 2030 and 2050”, he stated.
Dr. Vencatachellum is an accomplished Development Finance Executive with over 30 years of experience in strategic leadership, development economics and finance particularly across Africa. He spent more than two decades at the African Development Bank Group. Prior to his tenure there, he was a Full Professor of Economics at HEC Montréal, Université de Montréal. He holds a Ph.D. in Economics from Queen’s University, Canada and a Magistère Ingénieur Économiste from Université d’Aix-Marseille II, France.