M.K
Are the Bank of Mauritius and EDB looking to reduce unemployment in neighbouring countries, while all other countries are on the policy ‘our country and population first’… ?
A few weeks ago, I came across a newspaper article on some banks actively recruiting expatriates at the expense of Mauritians. I found it surprising and decided to dig deeper…The findings are rather worrying for our new graduates and experienced banking sector employees. 
In fact, it appears that a few banks, incorporated in Mauritius, are increasingly recruiting expatriates for jobs which can be fulfilled and are already fulfilled by locals. I’m not xenophobic and understand that there are areas where the experience of foreigners is welcomed, for e.g. digitalisation. I am also a patriot and understand that the local job market is tight these days, which makes it difficult for our graduates to get into the banking sector, as it is difficult for them to find jobs outside of Mauritius seeing that all countries are giving priority to their own citizens during these tough economic times. So why are we, in Mauritius, distributing work permits like gato pima when our own citizens are struggling to get jobs?
What can be the rationale for this substantial increase in expatriates in some banks here? Some can argue that the local banking sector employees do not have the required skills and competencies to drive international growth…I beg to differ, and I’ll substantiate this with facts.
The growth of at least one of our most important banking institutions, employing and promoting mostly locals, is underpinned by expansion in their international activities. This bank has experienced double-digit growth over past years and its financial strength is undisputed. It has even expanded its presence on the African continent and in the Middle East. There are quite a number of such banks, having just a couple of expatriates in specific roles, and which have laudable financial performance.
If these banks can reach such heights with Mauritians, there is no reason why the other banks need to drastically increase their intake of expatriates to achieve commendable performance. Among the latter, some can be seen from the highway on the upper floors of big buildings in Ebene and others have their headquarters in Ebene and Port Louis.
The Bank of Mauritius and EDB should start paying close attention to this matter, as their inaction is causing a lot of frustration. Should these institutions not realise the impact of the influx of expatriates, let me point out just a few:
– they are paid in foreign currency, thus depleting our reserves further;
– it’s causing a lot of frustration among local bank employees (who may I remind everyone are the ones who vote in elections);
– recruiting and promoting locals help create employment in Mauritius and also limit brain-drain;
– there is a major difference between foreign investors who we should attract and who create employment in the country, and expatriate workers who are paid from the economy;
– many local banks are generating strong financial performance by employing Mauritians so our locals are competent enough to drive growth in the banking sector.
While expatriates are welcomed in areas where they can add value, we should ensure their recruitment is not at the expense of our local working population.