Frequently Asked Questions
1. Can Global Companies (GBC 1) apply?
Yes, both domestic and global business companies may apply for a project venture into Africa. This includes newly incorporated companies.
2. Can I apply on my own name?
3. I plan to start-up a company to invest in Africa and have got no financial track record. Am I eligible to apply?
Yes, but you will have to submit a business plan for the proposed project. (Please refer to the business plan template on MAF website)
4. Can the share capital of MAF in an investee company exceed 10%?
No. The maximum shareholding of MAF is limited to a maximum of 10% of equity.
5. Are there any limitations on the use of the MAF funds?
Yes, MAF Funds can only be used by the Applicant for the approved project.
6. Will MAF members sit on my Board or influence my management decisions?
MAF may elect to appoint a Director on a case-by-case basis.
7. Will there be any monitoring from MAF post-investment? Will there be performance targets required to be met?
Yes, all monitoring will be stipulated in the Contract Agreement (such as submission of annual audited accounts).
8. Can I re-apply for further funds for a second project or the same project within the 5-year time frame?
Yes, and each new application will be subject to the same process and the approval will be at the discretion of the Board of MAF.
9. Is there any sector of activity specifically promoted or exempted from MAF?
Socially and environmentally harmful activities such as gambling will be excluded from funding.
10. Can I invest in any African country?
11. I plan to invest through a joint venture with another SME, can MAF fund both parties?
The two SMEs will have to incorporate a new entity, which will then apply for the funds.
12. Will MAF help with liaison with the relevant African authorities for example to incorporate my company there?
MAF will assist with provision of available information to applicants.
13. Will MAF be funding 10% of the project capital?
MAF will fund only 10% of Mauritian capital i.e. in the case of a joint venture with a foreign entity, the equity injection will be only for the Mauritian counterpart up to 10% of its stated capital.
14. Are there any specific cost relative to the application through MAF?
No, however there may be costs associated with other processes relevant to the project such as incorporation fees, payment of licences, etc to be borne by the applicant.