Mauritius Commercial Bank to bolster African expansion


The Mauritius Commercial Bank (MCB) is planning to increase its footprint in sub-Sahara Africa in efforts to seize emerging opportunities across the continent.

Raoul Gufflet, MCB Head of International division said the bank’s ambition is to widen and deepen its footprint in sub-Saharan Africa owing to the appreciable macroeconomic performance and prospects posted by a number of African countries.

“We have not waited for Africa to be in the spotlight as ‘the new place to be’ to spread our wings across the continent,” he said.

He added MCB is focused on securing new business across the continent and engaging in organic growth by increasing cross-border financing and entering into regional ventures, strategic partnerships or alliances.

MCB plans to use the forthcoming Africa CEO Forum to boost its brand visibility and its regional ambitions. The event, one of major rendezvous of the financial and corporate African scene, has attracted 800 participants from 38 countries and will be held in Geneva.

“We will be able to showcase our internal capabilities and product offerings to the top African business leaders and the most influential players in African and international finance,” said Antony Withers, MCB Chief Executive.

He added the forum will also allow MCB to engage in constructive dialogue on Africa’s growth dynamics and how the private sector can contribute towards advancing sustainable economic progress across the continent.

Ranked by The Banker as the largest bank in East Africa, MCB has gradually increased its involvement in Africa. The ‘Bank of Banks’ initiative aims at positioning MCB as a regional hub in handling trade finance, cards operations outsourcing and consulting services on behalf of MCB’s financial and banking counterparts.

SOURCE

The Mauritius Commercial Bank Ltd (MCB)

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