Continued in the series of “Les rendez-vous iKeys”, which aim to discuss the future of the luxury real estate industry with exceptional people.
This time, we have had the pleasure to talk with an incredible guest : Manisha Dookhony, economist and adviser to public administrations and investors around the world, especially in India, China and Africa.
Welcome Manisha, we are so glad to have with us today. Can you start by telling us a bit about yourself, your background and experience?
My name is Manisha Dookhony. I am an economist by formation, or malformation (laughs) shall we say. I’m an expert at public administration. I first did my studies in India and then in Harvard in the United States. Since then, I have been advising african governments to public sector reform and private investors on how to navigate african complexity and richness.
Aside from that, I am married and have a little one.
How would you describe a day in your life?
I never have the same day! Pre confinement, it was a lot of traveling. I have a portfolio of about 25 countires across all Africa, including across the Indian ocean. I was at least away for a week in a month.
Post-confinement, it changed for the better: I have been able to translate most of what I was doing before. I’m engaged in the social front in Mauritius. Now I have more time for that.
Being a women in this male dominant space, how would you decribe your professional experience?
Well It is definitely hard, especally in Mauritius I have to say. In Rwanda, there are women in high spheres, in govenerment or private sector, the biggest bank is headed by a woman. In Namibia, they are also very strong in women leadership. While in Mauritius, we haven’t seen women heading ministers in Economy. It’s time to change - we have an association for women in finance and we try to push them forward.
Advice for women who want to be in those field – how they can face better this type for environment?
Actually, according to statistics, more women are educated than men in Mauritius. They need to be well sourrounded, at home or office, with mentors or relatives who can take care of the childrien when you have one.
The other important thing : education. You need to be able to work hard and continue learning new things. Finally, don’t be afraid to impose yourself ! Many men are more successful because they have network. Women need to be more engaged in professional associations to move up the ladder.
I feel like especially in Mauritius you kind of need to know people to make things faster. Now we are out of the lockdown. How would you describe the current economic situation?
As we come out of lockdown, it is become clear that tourism which represents no less than 15% of the economy, is going to gain momentum progressively.
The other positive fact is that while we had issues with financial sector, Mauritius is now in good way to go out of the black list of the EU, and ready to welcome direct investors or real estate investors in the best conditions.
The third thing that we need to keep in mind is that Mauritius signed 3 new important agreements regarding corporation and other issues with China, India and Africa, which represents the three biggest market opportunities in the world right now.
Those agreements have got a big component on services, which means that Mauritius will welcome much more on that front.
Chinese and Indian investors are coming! What avout African investors?
South African, Malagassee have created a lot business here. Mauritius provides safety and that is something they very muck look forward to. Mauritius has now a reinforced access to Africa. There is fund that the govenrment has put in through the Mauritius Africa fund.
Few weeks ago, the new budget was out. What’s your opinion on its new axes?
Mauritius needs to go on more modern type of manufacturing. Pharmaceutical fits into that type of high end industry.
Many people think we don’t have the competence but I know lot of Mauritians who are working for the like of Pfizer or Sanofi and didn’t come back because of the lack of opportunites here. This is on the verge to change.
Also, the cinematographic is proimising : lot of actors and film cruise came to Mauritius and were able to work during the lockdown in secrueed locations.
Mauritius continues on that road towards the construction sector. There is a new strategy that came out for land usage in Mauritius which highlights that we need to develop much more outside of the coastal zones. At the same time, other elements are coming up : urban regeneration program, the new metro that lifted the area.
Toursim is going to pickup again. How do you think it is goind to change?
It will change drastically I think. People coming won’t be the same anymore.
For example, flights from Europe last as least 11 hours. So people travelling will be sitting next to someone who they don’t know, and they’ll be much more concerned. Now Europeans will need a very good reason to come.
Meaning around the cultural aspect, like in Sri Lanka for example.
Millenials are very concerned about the environment – they’ll be sensitive to the ecological elements in accomodations, if they are respecful of the environment.
Do you think we are ready to provide such an offer, that is respectful of the environment ?
People realize that the demand for greener projects is increasing.
What about real estate? Many investors have welcomed in the past years. Mauritius has positionned itself with as luxury destination. Do you think we can still attract those investors?
One of the big sellin point of Mauritius is the golfing. People will come back to Mauritius value the golfing experience that can be offered here – this is not going away.
Apart from that, there are perhaps new markets that are going to open up, around the new agreements, for example Chinese and Indian tourists.
What is your opinion on the potential of luxury in Mauritius?
I’d say we already have a godd basis. We do have what it takes to welcome luxury oriented guests. We also have got the facilities (hotels, villas, etc.).
The other important thing is the golfing in Mauritius.
Everything is opening up again tomorrow. What are your plans?
Well, I will meet with friends who I haven’t seen in awhile becasue of the restrictions. The econd thing I am looking to taking my little one and maybe some oh his friend to go grab a milk shake, maybe sitting in a cafe somewhere. Third, one of the elements I missed most is to be able to go the a chinese restaurants - you know we have very good ones !
So Manisha, how about we take a photo?
Of course, my pleasure!