By Ajong Mbapndah L
In the wake of the resounding success of the 2023 African Energy Week (AEW), PAV caught up with Keseena Chengadu, CEO of Órama, to reflect on their journey and gain insights into the pivotal role Mauritius continues to play as the gateway to African investment. Órama, a management company licensed by the Financial Service Commission (FSC) in Mauritius has earned a solid reputation as a facilitator for businesses seeking to tap into the continent's vast potential.
As we look back at the 2023 African Energy Week, let us revisit Orama’s journey. Can you give us a brief introduction to Órama and its mission?
Keseena Chengadu: Certainly. Órama is a management company based in Mauritius, specialized in the incorporation of companies, trust & fund management, asset protection & succession planning, compliance & legal as well as accounting and administration services. While we have been in operation for some time, our recent journey has marked a significant milestone with the acquisition of our license. Our mission at Órama is to provide top-notch professional services to entrepreneurs and investors looking to establish a presence in Mauritius, expand their horizons and tap into the vast wealth of opportunities the island presents including the facilitation of global funds to African business, access to preferential markets, credibility and stability amongst other key indicators conducive to attract investments and thrive businesses sustainably.
Órama had a notable presence at the African Energy Week in 2023. Can you tell us about your experience at the event and how it influenced Orama’s trajectory?
Keseena Chengadu: Our experience at the 2023 African Energy Week was truly transformative. It was a fantastic opportunity to connect with industry stakeholders and showcase our role as a facilitator of access to Mauritius, Africa's reputable financial hub, and the most business-friendly destination in Africa. We were proud to be a prominent player at the event and contribute to the conversations around energy and investment in Africa. AEW allowed us to engage with those interested in doing business in Mauritius and those yet to discover its immense potential. This experience significantly influenced Órama's growth and determination to be a key player in African investment.
The African Energy Week has become a significant annual event. How do you compare the 2022 edition with the 2023 edition in terms of importance for businesses like Órama?
Keseena Chengadu: The AEW has undoubtedly grown in stature and importance. The 2023 edition marked a significant expansion, with triple the participation compared to the previous year. It was evident that substantial effort went into making it a resounding success. It has become an essential rendezvous for businesses like Órama to connect with diverse countries and partake in discussions about Africa's energy sector and broader business landscapes. The AEW continues to provide us with an opportunity to reinforce our commitment to Africa and share our expertise in facilitating investment.
Mauritius has been increasingly recognized as a unique and attractive destination for investment. What, in your view, sets Mauritius apart, and why should it be the preferred choice for businesses seeking African investment?
Keseena Chengadu: Mauritius indeed offers a compelling case for investment. Its stability, economic success, and financial achievements over the years have made it stand out on the global stage. Despite being a small African nation, its government and authorities have adeptly turned its limitations into strengths. We have learned from best practices worldwide and earned international recognition for our stability. Additionally, its robust banking sector and no exchange control makes it easy for businesses to move capital in and out of the country efficiently.
As an example, in his interview published by Investor’s Mag issue no. 26 (Oct 23 – Dec 23), Mr. Henry Jardine, the United States Ambassador to Mauritius stated “… in the financial service sector alone, approximately $70 billion in transactions originate from US business but pass through Mauritius [sic]”. This highlights the acknowledgment of Mauritius strategic significance in facilitating business operations across the region.
Mauritius also boasts opportunities in the real estate sector, which has seen remarkable growth in recent years. With a stable economy, favorable weather, and a status as a sought-after destination, Mauritius is the proverbial golden key to unlock the door to African expansion and the turquoise water is a bliss!!
Could you share any success stories or examples of businesses that Órama has brought to Mauritius?
Keseena Chengadu: We collaborate with clients from diverse international jurisdictions, with notable examples including our Nigerian, Ghana, Angola and Zimbabwean partners. In a striking case, we offered valuable guidance to our clients in Nigeria, Ghana and Angola seeking optimal structures for their global oil and gas trade operations. Given the intricate challenges associated with banking and credit facilities in Nigeria, Angola and Ghana we facilitated the establishment of their company in Mauritius, complete with a local bank account. This strategic move has granted our client access to Mauritius' robust banking system, opening doors to Standby Letters of Credit (SBLCs) from local banks, ensuring efficient and punctual supplier payments. This, in turn, elevates business associates' confidence, fosters business growth, and bolsters international trade.
In another remarkable instance, a highly regarded Zimbabwean client, envisioning expansion and in need of capital infusion, turned to Órama. We orchestrated the establishment of their Mauritian company, which makes them eligible for financing through local banks. Furthermore, Mauritius' exceptional reputation within the international financial arena allowed the client to successfully raise capital and attract investments, leveraging the prominence of the Mauritius International Financial Centre."
Looking ahead to the future, what lies in store for Órama, and how do you envision your role in contributing to the ongoing success of African investment?
Keseena Chengadu: Analyzing Órama's existing client portfolio and the strong, enduring professional rapport we've cultivated with our partners, it becomes abundantly clear that we are poised to evolve into the paramount strategic advisors and partners for businesses and entrepreneurs seeking to invest in Africa. Our overarching objective is to become the primary catalyst for channelling investments into Africa while furnishing clients with expert counsel on the most advantageous structural approaches to leverage Mauritius' extensive network of Double Taxation Avoidance Agreements (DTAA), Investment Promotion and Protection Agreements (IPAA), and trade pacts, not only within the African continent but also on a global scale.
Our extensive proficiency within the energy, mining, and trading sectors equips us with a profound comprehension of the optimal strategies that can be deployed to maximize investment opportunities throughout Africa. With our profound insights and unwavering commitment, we are exceptionally well-positioned to serve as a guiding light for those seeking success in this vibrant and promising market.
*Culled from November Issue of PAV Magazine.For more information about Órama and their services, visit their official website at www.oramacorporate.com or follow them on LinkedIn .