Mauritius's banking system remains in good shape. According to data published by the Bank of Mauritius on 6 August 2026, the total outstanding credit extended by commercial banks stood at Rs 622.6 billion at end-June 2026 — Rs 418.8 billion in local currency and Rs 203.9 billion in foreign currencies.
Real Estate: Top Loan Category for Households
Households absorbed Rs 212.3 billion in credit, of which Rs 149.6 billion was in the form of housing loans. This figure reflects sustained residential demand despite the global interest rate environment. Private non-financial corporates lead overall with Rs 214.4 billion, while Global Business Corporations (GBCs) — at the heart of Mauritius's offshore model — account for Rs 112.7 billion.
Trade and Hospitality Lead Sectoral Financing
By sector, wholesale and retail trade absorbs the largest volume (Rs 42.2 billion), followed by hospitality and food services (Rs 38.5 billion) and manufacturing (Rs 31.1 billion). These figures reflect the tourism rebound — with 736,000 arrivals recorded over the first seven months of the year — and robust local commerce, despite a heavier fiscal environment since the Finance Bill 2026.
A Positive Signal Amid Rising Tax Pressure
The publication of these figures comes as the Finance Bill 2026 takes effect, raising the marginal tax rate to 35% and introducing eleven new levies. Voices — notably from small entrepreneurs grouped under the Regrupman Artizan Morisien — are calling out fiscal pressure they describe as suffocating for micro-enterprises of 1 to 3 employees.
Credit growth nonetheless signals an economy in motion, driven by real estate, tourism and trade. The island remains an influential regional financial hub, as evidenced by the Rs 112.7 billion in GBC credit.
Why It Matters
For decision-makers, these figures signal a robust real economy despite fiscal headwinds. They also point to sustained financing demand in the tourism sector — confirming the growth trajectory — and an active GBC segment that remains the quiet pillar of Mauritius's economic model, even as that model faces growing scrutiny for its "dual economy" effect between the offshore sphere and the domestic economy.
Sources: Bank of Mauritius, AllAfrica, Le Mauricien — 6–7 August 2026.