The Virtual Pay Group, a leading provider of payment services and technological solutions worldwide, announces the establishment of its headquarters in Mauritius. This decision marks a significant milestone in the group’s strategy to strengthen its international presence and consolidate its position as a key player in the payment industry. An official launch ceremony took place on Friday, November 17, at the Hennessy Park Hotel in Ebène, in the presence of Dhanesswurnath Thakoor, Chief Executive of the Financial Services Commission (FSC).
For the group, the decision to set up its headquarters in Mauritius was motivated by the country’s robust regulatory framework, skilled workforce, and proactive approach to encouraging innovation and economic growth. Strategically located between Asia and Africa, Mauritius is a preferred gateway for investments in Africa, and Virtual Pay intends to capitalize on this advantage to pursue its growth strategy, establishing itself as a key player in the global payment ecosystem.
“Mauritius offers a dynamic and well-regulated business environment that encourages innovation in financial technologies. We are delighted to establish our headquarters in this dynamic market. Our main goal is to enable businesses and their customers to benefit from transparent, secure, and efficient payment solutions,” said David Morema, Chief Executive Officer of the Virtual Pay Group. He expressed optimism about the move.
Expressing enthusiasm for Virtual Pay International’s decision, Dhanesswurnath Thakoor, Chief Executive of the Financial Services Commission (FSC), stated, “We welcome Virtual Pay to Mauritius and applaud its contribution to the growth and efficiency of the financial ecosystem. This strategic choice reflects the validity of our financial services development strategy. We are more determined than ever to promote technological advancements in this sector, with immense growth potential.”
In a statement, the Minister of Finance, Economic Planning, and Development of the Republic of Mauritius, Renganaden Padayachy, noted, “The decision of the Virtual Pay Group to establish its headquarters in Mauritius is evidence of the confidence inspired by our international financial center. It demonstrates that the reforms implemented in recent years to strengthen our regulatory framework and encourage innovation are bearing fruit. With our positioning, we can expect other companies of this caliber to choose Mauritius to establish their headquarters and oversee their operations in Africa and beyond.”
This launch marks a new phase for the Virtual Pay Group, which has consistently demonstrated its commitment to providing innovative payment solutions to businesses worldwide. The company expresses gratitude to its employees, clients, and partners for their ongoing support and looks forward to the sustained growth of its activities.