Loita has focused its efforts on providing up-to-date, concise and accurate information and services on the global business and financial services sectors in Mauritius over the past years to its clients. Loita's breadth of involvement throughout Africa with multinationals, corporate investors and individuals on an on going basis provides Loita's resources with an in-depth knowledge base platform.
Loita Management Services (LMS) offers advisory and administrative services in the Global Business, Trust & Financial Sectors to international world-class organisations and individual investors wishing to establish a presence in or related to Mauritius. It leverages on its experience gained in numerous industries in countries spanning the globe to offer a customised and responsive service to its clients. LMS services clients with regional headquarters in Mauritius doing business in Africa to businesses with operations throughout the continent as well as Europe.
Additionally, Loita currently has offices operating in Mauritius, Ghana, Kenya, Malawi, South Africa, Uganda, Zambia and Zimbabwe and continues to service clients in Angola, Botswana, Cameroon, Ethiopia, Liberia, Libya, Mozambique, Namibia, Tunisia, Tanzania and Rwanda as well as various European and Asian countries.
Loita Management Services specialises in providing services to clients originating from or engaged in business into Africa.
N. Justin Chinyanta, is the Founder and Loita Group Chair. He has extensive corporate banking, structured finance, and entrepreneurial expertise as well as professional experience in commercial and investment banking over twenty-five years in the sub-Sahara African market. Mr Chinyanta is also an active Board member of Loita Management Services Limited.
A past non-executive board member of numerous public and private sector boards such as Ecobank Malawi (Chair Risk and Credit Committee) and Johannesburg Securities Exchange listed infrastructure firm Group 5 (Member Risk Committee and Remuneration Committee), Justin presently chairs FinCredit Kenya and Uganda, and also serves as executive Vice President (Southern Africa) for the Africa Business Roundtable. He is one of the pioneer members of General Colin Powell and Ms Madeleine Albright’s Initiative for Global Development’s Frontier 100 CEOs and in April 2013, became a member of the Duke of Edinburgh’s Commonwealth Study Conference Leaders Forum. In December 2017 he was appointed by the Government of Zambia as Non-executive Chair of the National Housing Authority, and has previously served as honorary member of Zambian President Mwanawasa’s Investment and Business Advisory Council.
Justin is a Fellow of Harvard University (Weatherhead Center for International Affairs) and a graduate of the Fletcher School of Law and Diplomacy at Tufts University (International Business Transactions and Financial Law). He is an Advocate of the Zambian High Court with an LLB from the University of Zambia.
Susanna is the Chairman of Loita Management Services and the Co-founder and director of a non-profit school, overseeing all aspects of operations, curriculum and development She previously managed group strategy for a large financial services and information technology group in Africa. Additionally, she oversaw capital markets transactions for the group in several African countries, as well as conducted field research in economic trends and private sector initiatives in West Africa. She completed graduate studies in international economics, with a focus on the needs of African financial and commercial markets, also studied macroeconomic analysis and political risk. She is a fluent French speaker, who has worked and traveled in over 25 African countries, giving her a wide scope of understanding the African Market.
Dr. Delwin Roy is a Founder and is the Chief Officer for Corporate governance and compliance, corporate social responsibility, and legal affairs. He also contributes to the Group's strategic planning and management. Dr. Roy holds degrees from the University of California, Berkeley (BS and MBA) and Ph.D. from the Krannert School of Industrial Management, Purdue University. He has served as a Fellow, Center for International Affairs, Harvard University; Senior Fellow, Wharton Applied Research Center; Research Associate, Middle East Research Institute, Un iv. of Pennsylvania; and, Visiting Professor, School of Law, Stanford University. Dr. Roy's international professional career includes positions with Cornell University, School of Business and Public Administration; U.S. Agency for International Development; The Ford Foundation; Citibank, N. A., and The Hitachi Foundation (formed by Hitachi, Ltd.) where he served 13 years as Founding President and CEO. His publications include extensive works on Middle Eastern economic policy, education and economic development, international business administration, global corporate responsibility, and public enterprise management. Dr. Roy also serves as Chairman and President, The Eric Edward Roy Fund for Education in Africa (Eric Roy was a Founding member of the Loita Group), and is a board member of the Orphan Support Africa, a not-for-profit group committed to building community capacity in support of HIV/AIDS orphans in Africa.
Mr Yousef S. Bazian co-founded Loita Holding Corporation in 1992, the holding company which owns Loita Capital Partners International, Fintech International and Loita Transaction Services. He currently serves as the Chairman of Fintech International and Loita Transaction Services, the two Information Technology clusters of the Loita Group.
Mr Bazian, a trained banker, was educated at Yarmouk University with a degree in Marketing and Finance. He commenced his career in Citibank, Jordan and transferred to the UK and to Africa to serve as a Resident Vice President in the East African, Indian Ocean and Angolan region until 1992. Mr Bazian then moved to HSBC Equator as Vice President with regional responsibilities for East Africa and Angola until 1994. Following a stint as Regional Manager at Cairo Amman Bank covering the Palestinian Territories based out of Ramallah, Yousef moved to set up and run the Corporate Finance division at Arthur Andersen in Riyadh, Saudi Arabia until 1999.
In 2008, Yousef joined Ernst and Young in the Middle East and was responsible for Transaction Advisory Services for Sovereign Wealth Funds and Private Equity moving in 2009 to set up and lead the PwC Corporate Finance Division in the Middle East and established the industry grouping of SWF and PE. He joined PwCâ€™s ME board of Directors in 2011 where he served until his retirement from the Firm.
Thereafter, Mr Bazian acted as Chief executive Operations of the Aperture Group Management Company in Qatar. Mr. Bazian serves on the board of directors of Palestine Investment Bank in Ramallah and is a trustee on the board of trustees of The Galilee Foundation, a UK registered foundation focused on education.
Shanil is presently the Group Financial Controller and is the Managing Director of Loita Management Services. He works closely with the Loita Group Companies as well as other external global business clients. Shanil serves as a director in all Loita Group companies as well as on a portfolio of Global Business Companies. He is well conversant with Financial Services Commission rules and guidelines and keeps himself updated regularly with IFRS changes.
Previously, Shanil worked with a diversified portfolio of clients, including listed companies operating in various sectors of the economy in a managerial capacity. Shanil has significant experience in carrying out audits in the global business sector including funds, sugar, finance and investment, non-banking financial institutions, textiles, commercial and manufacturing sectors both in Mauritius and in Africa. He has also carried special tasks including due diligence, fraud investigation, internal audit reporting and the consolidation of group business accounts. He left as Manager at BDO De Chazal Du Mee before joining Loita Group.
Shanil has travelled extensively and regularly within Africa including South Africa, Kenya, Tanzania, Zimbabwe and Zambia.
Products and Services
An array of products offered at Loita include:
- Consultancy services
- Investment Holdings
- Operational headquarters
- Employment Services
- Financial Services
- Asset Management
- ICT Services
- Fund Management, including pension funds
- Aircraft financing and leasing
- Other such business as approved by the FSC
- Company incorporation and administration of both domestic and global business entities
- Corporate Trustee services and administration for trusts, hybrid trusts and foundations
- Accounting, Banking and Corporate Secretarial Services
- Tax advice & planning Administration and advice of domestic residency, relocation and domestic real estate investments
- Provision of accounting and administration services Monthly or quarterly management accounts if required
- NAV Calculations, Shareholders & Directors Registers, Custodianship,
- Preparation of Performance Reports
- Filing of changes in shareholding, directorship, auditors, registered office details, mortgages, fixed & floating charges, as required Preparation of Annual Returns
- Preparation of VAT and Tax Deducted at Source, Treaty and non-treaty based tax planning,
- Application for advance Tax Rulings in Mauritius Preparation of Board & Shareholders Meetings, minutes resolutions and attendance
Mauritius and the Global Business Financial Services Sector
The offshore; now known as the global business sector in Mauritius commenced operations in 1992 and currently is home to more than 16,000 companies and trusts and collective investment schemes with more than 20 banks (more than 10 international) offering services to both the local and offshore sectors. The Financial Services Commission, established in 2001, is responsible for licensing and regulation of non-banking financial services including insurance, the Mauritius stock exchange and the newly formed GBOT (Global Board of Trade), the first international multi-asset class exchange from Mauritius.
As a strategic global business financial services centre, Mauritius offers:
- Bilingual population (English and French)
- Legal system based on English and French law
- The Privy Council Judicial Committee in the UK as the final court of appeal
- International-standard Stock Exchange
- International multi-asset class exchange
- International banking with no exchange control
- Excellent telecommunications digital network with connection to SAFE cable
- Privacy regulated and governed by the Financial Services Act of '07
Mauritius is a member of SADC, COMESA and IOR-AR, signatory of the LOME convention and AGOA, an active promoter and adherent to various IPPA's and an active co-operator with OECD, FATF and the UN.
Taxation in the global business of Mauritius offers the following benefits:
- Double Taxation Treaties with more than 33 countries
- Attractive taxes within the offshore sector where the effective rate of 3%or lower is applied using the mechanism of presumed foreign tax credit of 80% on foreign source income
- Exemption with respect to withholding tax on dividends paid out of income from approved global business activities
- Exemption on withholding tax on interest payable on dividends & royalties on payments from Mauritius
- Exemption with respect to Capital Gains & Inheritance Tax and Estate Duties
- Full exemption from tax for offshore companies incorporated as Category 2 companies
And taxes in the domestic market:
- Unified taxes on the domestic market at 15% for both corporates & local resident individuals
Tax holidays for domestic companies licenced under some specific schemes such as the Freeport Development Act, etc.