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ENSight

 

02 Apr 2020
BY Valentin Hardy AND Emmanuel Sauzier

Mauritius: measures for the informal sector during the coronavirus (COVID-19)

Following our previous ENSight on the assistance scheme announced by the Mauritian Prime Minister, the government has decided to extend its scheme to the informal sector and take general measures aiming to facilitate the life of everyone during this crisis.

Self-employed individuals

Government has offered, to self-employed individuals, financial support amounting to half of the guaranteed income for the period between 16 March 2020 to 15 April 2020. During this period, self-employed persons will be eligible to claim MUR5 100 under the scheme. The self-employed will only be eligible to benefit from the scheme if the household income of the self-employed person does not exceed MUR50 000. Self-employed persons wishing to apply will need to submit their applications on the Mauritius Revenue Authority website.

Micro, small and medium enterprises

Companies that fall within the umbrella of micro, small and medium enterprises (“MSMEs”) are those enterprises with a turnover up to MUR50-million. MSMEs will, in addition to the temporary embargo of six months on capital repayments which were previously given to them, further benefit from an embargo of six months on interest repayments regarding existing loans facilities which they have already contracted with commercial banks in Mauritius. MSMEs will also be allowed to contract new loan facilities with commercial banks to be eligible for an embargo of six months on capital repayments and interest.

Development Bank of Mauritius support to micro and small enterprises

Micro and small enterprises (“MSEs”) will be eligible to loan facilities from the Development Bank of Mauritius (“DBM”) to an amount not exceeding MUR1-million per applicant.

Relief on leases for rental of buildings

MSEs renting private buildings will have to make their application for loan facilities to cover the cost of rental due from the DBM, which will not be calling to pay interest on the said loan facility if it is repaid within nine months of the date it has been granted. The lessees of DBM industrial estates will be granted a waiver of their rental payments during the curfew period applicable in Mauritius. Landscope will exempt its lessees from any penalty for late payment of rentals for the month of March 2020.

Reviewed by Thierry Koenig SA, head of ENSafrica (Mauritius) and Martine de Fleuriot, an executive at ENSafrica (Mauritius).

Valentin Hardy

ENSafrica | Mauritius | Barrister | Associate

vhardy@ENSafrica.com

+230 5934 6791

Emmanuel Sauzier

ENSafrica | Mauritius | Barrister | Associate

esauzier@ENSafrica.com

+230 5934 6725

 

COVID-19, also known as the Coronavirus, is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that was declared a pandemic by the World Health Organization on 11 March 2020. The disease has since been reported in over 190 countries.

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