55. We are setting the scene to move to the next stage which will entail making still greater use of electronic money. Unfortunately, we have failed to make any progress with the NPS – on which we have been engaged since 2009 and to which I alluded in my 2010 Letter to Stakeholders.
It has been delayed for reasons beyond the control of the Bank. While we are entangled in fighting incomprehension, in some decision-making quarters, and overcoming resistance from vested interests, Mauritius has become a laggard in this area as several African countries have gone ahead and implemented NPS’s to achieve greater efficiency and lower transaction costs in their jurisdictions.