The Ministry of Financial Services, Good Governance and Institutional Reforms is a newly created ministry, as financial services constitute a key sector of the economy, and have huge potential for growth. Its aim is to fight fraud, eradicate corruption, malpractices and irregularities in all aspects of public life to foster the development of Mauritius. It also has the responsibility of spearheading institutional reforms and reinstating good governance practices, which are fundamental principles at the core of the fight against irregularities.
Responsibilities
- To reorganise and reform the public sector to make it more productive, transparent, accountable and customer-friendly;
- The promotion of the development of wealth management and asset management, which will be the springboard to position Mauritius as a centre for private placement, trading of bonds and other financial instruments;
- To position Mauritius and the Stock Exchange of Mauritius as a financial hub for mitigating Africa-related risks.
Vision
Its vision is to transform Mauritius into a centre of excellence and promote wealth and good governance. The Ministry is driven by ethical behaviour, efficiency, honesty, trust, integrity and responsiveness in its quest for excellence within its operational and staff functions.
Mission
The mission of the Ministry of Financial Services, Good Governance, and Institutional Reforms is threefold:
- Enforcement of Good Governance: The ministry provides guidance and support to ensure adherence to good governance practices across governmental and financial sectors. By doing so, it aims to restore public trust and uphold national values.
- Promotion of Financial Services: It actively promotes the growth and diversification of financial services, aiming to expand Mauritius’ economic capabilities and attractiveness as an international financial center.
- Re-engineering of the Public Sector: Through comprehensive reforms, the ministry works to eliminate fraud, corruption, malpractices, and irregularities in public life. This includes streamlining processes, enhancing accountability, and fostering a culture of integrity within public institutions.
In conclusion, the Ministry of Financial Services, Good Governance, and Institutional Reforms plays a crucial role in Mauritius’ journey towards sustainable development and global competitiveness. By focusing on integrity, efficiency, and strategic growth in financial services, the ministry aims to pave the way for a prosperous and transparent future for the nation.
