The introduction of an incentive programme to retain young graduates has helped to strengthen the economy of Mauritius and curb the likelihood of a brain drain from neophytes looking for ‘greener’ pastures. Speaking at the Manufacturing Indaba in Johannesburg recently, the island nation’s Economic Development Board CEO, Francois Guibert, said the government had acknowledged that in order for Mauritius to hang onto young graduates it would have to do something to persuade them to stay. “So we decided to offer them repayment options on their study loans in return for time spent working in Mauritius.” Guibert said it was their belief that, through offering loan-relief contracts to young engineers and the like, “we are significantly benefiting from creating the kind of environment for young manufacturing professionals to stay on”. This kind of groundup approach, the Pariseducated executive wrote in a recent newsletter, had been necessitated because Mauritius had no choice but to create the conditions for an inclusive economy that could guarantee an equitable distribution of wealth. The manufacturing industry, said Guibert, was one of the primary sectors on which they concentrated in boosting their economy, an economy that last year was identified as Africa’s most liberal trade environment according to Canadian think tank, Fraser Institute. At the time the institute released its findings in a report called “Economic Freedom of the World”, South Africa had slipped from the 46th position it held in 2000 on the regular benchmark survey to 110th. Jasson Urbach, director at the Free Market Foundation, said at the time that “if South Africa had followed the path of Mauritius and increased levels of economic freedom, South Africans would be healthier, wealthier and happier”. We are significantly benefiting from creating a conducive environment for young manufacturing professionals. – Francois Guibert
