Mauritius is "ready to take off."
What is Mauritius? Better, where is it?
Mauritius - not to be confused with Mauritania - "is one of the smallest but most exciting markets in Africa," according to the latest Focus report of Foreign & Colonial Emerging Markets Ltd., London.
An Indian Ocean island nation some 450 miles east of Madagascar, Mauritius has a stock market with a market capitalization of $1.9 billion.
The country, according to the report, has enjoyed a consistent domestic product growth of 5% annually over the last 10 years.
The stock market, however, "has been fairly subdued," according to the report, rising only 5% for the year to date through mid-July.
"However, given that the market is trading at 10.5 times prospective earnings and interest rates are expected to fall over the next 12 months, the privatization of the telecom operator may be the catalyst the market needs to get going," the report continues.
The national telecommunications company is expected to be privatized in the next 12 months.
