Thousands of SMEs in Mauritius are set to be benefit from a new, approved $100m loan from the African Development Bank.

The Bank approved the loan through its public sector window and will include investment into areas such as manufacturing, trade, agriculture, aquaculture, ICT and transport. Projects that have been earmarked for growth include 1,500 women and 300 youth enterprises by 2027.

According to AllAfrica, The Master Plan of the Government of Mauritius aims to raise SMEs' contribution to GDP from 40 to 52% by 2026, while increasing SMEs' share of national employment from 55 to 64%.

There are over 100,000 registered SMEs in Mauritius, contributing approximately 40% of GDP and employing over 280,000 people. The African Development Bank loan is hoped to contribute to gender equity and social inclusion. Female workers (30% of Mauritius' workforce) and entrepreneurs (16% of firms with female shareholders) are a focus of the Bank's loan.

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