Minister Jeetun advocates a forward-looking approach to Financial Governance

The Minister of Financial Services and Economic Planning, Dr Jyoti Jeetun, has called for a shift in financial governance from traditional oversight towards greater foresight, underlining that Boards must increasingly anticipate emerging risks and strengthen institutional resilience in an increasingly complex and interconnected financial landscape.

She was speaking, today, at the opening ceremony of the Fourth Annual Capacity Building Programme for Boards and Heads of Member Authorities of the Southern African Development Community (SADC) Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA), at the Sofitel Mauritius L'Impérial Resort & Spa in Flic-en-Flac. The three-day programme, being held from 08 to 10 September 2026, focuses on oversight, current pressures facing boards and emerging issues requiring greater foresight.

The Minister of Foreign Affairs, Regional Integration and International Trade, Mr Dhananjay Ramful; the Junior Minister of Finance, Mr Dhaneshwar Damry; the Chairperson of CISNA and Chief Executive of Namibia Financial Institutions Supervisory Authority, Mr Kenneth S. Matomola; the Chief Executive Officer of the Financial Services Commission, Mrs Divanandum Chinien; as well as other personalities were also present at the opening ceremony.

Minister Jeetun highlighted that while compliance, controls and monitoring remain essential responsibilities of Boards, these are no longer sufficient. Boards, she stated, must increasingly ask what could happen next and whether their institutions are adequately prepared. She cited cybersecurity, Artificial Intelligence, climate change, geopolitical tensions and interconnected financial systems among risks requiring greater board-level attention.

For Mauritius as an international financial centre, Mrs Jeetun emphasised that trust remains a fundamental asset as good governance is not simply a compliance requirement but also a competitive advantage. She added that the country's competitiveness rests on credibility, predictability, sound regulation and good governance.

For his part, Minister Ramful underpinned the importance of regional cooperation in building resilient financial systems. He stressed that financial crime, technological risks and increasingly interconnected markets transcend national borders, requiring stronger regulatory convergence, cross-border supervision and information sharing.

As for Junior Minister Damry, he advocated a new financial architecture that can enable African capital to better support the continent's development needs. He moreover outlined Mauritius' ambition to position itself as a centre for de-risking financial and technological capital flows into Africa, while also strengthening human capital through capacity building.

The Chairperson of CISNA, Mr Kenneth S. Matomola, underscored that strong governance, effective leadership and well-capacitated regulatory institutions are essential as the financial sector responds to FinTech, sustainable finance, climate-related risks and increasing cross-border activities. He also indicated that CISNA has conducted around 16 capacity-building programmes since 2022.

FSC’s CEO, for her part, dwelt on the need for regulators to uphold sound corporate governance practices and continuously strengthen their capacity. She remarked that rapid developments in FinTech, digital assets, Artificial Intelligence and supervisory technology are creating both opportunities and new risks, requiring regulators to strike the right balance between fostering innovation, safeguarding financial stability and market integrity, and preserving the ease of doing business. She further reaffirmed FSC’s commitment to support CISNA and strengthen regional regulatory cooperation.

Established in 1998, CISNA promotes harmonised regulatory and supervisory frameworks for non-banking financial institutions across SADC. Its Secretariat is based in Mauritius and hosted by the FSC.

08 September 2026

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Topics: Others, Financial Services