1. Could you introduce MCB and share how the bank has maintained its position as the leading financial institution in Mauritius and one of the most influential banking groups in the region?
MCB is the oldest bank in Mauritius, with a history spanning 187 years. In fact, one of the oldest banks in continuous operation in the southern hemisphere. Over the past 30 years, we’ve undergone significant transformation.
Domestically, we are the largest bank in Mauritius. Internationally, we expanded across the Indian Ocean with subsidiaries in the Maldives, Seychelles, and Madagascar, and joint ventures with Societe Generale in Réunion and Mayotte. More recently, we have expanded into Africa, focusing on the commercial and financial flows on the business corridors between Asia, Europe, Middle East, Americas and Africa as for example on the oil and gas sector or Private Equity Funds.
Being an African bank, our approach considers the continent’s realities and is aimed at promoting socio-economic development. Africa represents less than 4% of global CO₂ emissions, yet 600 million Africans lack access to electricity. Our goal is responsible carbonization, supporting energy access and economic growth while transitioning to renewables. We also finance solar, geothermal, and hydroelectric projects.
Today, MCB is a top-tier African bank with a balance sheet of around $20 billion, equity of $2.3 billion, and profit of $450 million last year. Our strategy combines wholesale banking, corporate and investment banking, private banking, supported by talent development. We are certified for equal salary and recognized as a “Great Place to Work,” reflecting our commitment to staff growth and inclusivity.
2. Mauritius is consolidating its role as a trusted international financial centre. What role is MCB playing in supporting cross-border finance, wealth management, and investment flows?
Mauritius has a unique position as an investment-grade rated country with political stability and a protective legal environment. We have strong agreements, including double taxation treaties with India, China, and several African countries, and we are part of the African Continental Free Trade Agreement.
MCB leverages Mauritius as a hub for commercial, investment, and payment flows across Africa. We complement Dubai’s financial centre, providing expertise in sub-Saharan Africa, and have offices in Nairobi, Johannesburg, Lagos, Dubai and Paris with plans to expand further. These hubs allow us to facilitate cross-border transactions, investment, and advisory services effectively.
3. Digital transformation is reshaping banking worldwide. What major innovation, digital banking, and cybersecurity initiatives is MCB prioritizing to enhance customer experience and operational resilience?
Digitalization starts with KYC and account opening. Our main focus, however, is payment digitalization. We are partnering with platforms, and we are looking with interest Afreximbank’s Pan Africa Payment and Settlement system, that should simplify and accelerate intra-Africa trade.
By matching flows across different currencies and countries, we can reduce reliance on the dollar, enhancing financial independence for African businesses. We are also exploring virtual assets, tokenization, and stablecoins to modernize payments and participate in international financial flows using Mauritius as an IFC.
4. Sustainability is becoming integral to financial sector strategy. How is MCB embedding ESG principles, climate finance, and responsible banking practices?
Our ESG strategy focuses on governance, environment, and social impact. Governance is central to all our operations. In Mauritius, we prioritize decarbonization, renewable energy, and climate resilience. In Africa, we pursue responsible carbonization, combining economic development with sustainable energy use. All these initiatives are transparently reported in our sustainability reports.
5. As the largest bank in Mauritius, how is MCB partnering with key sectors, including SMEs, tourism, real estate, manufacturing, and emerging industries, to foster growth and diversification?
MCB has historically played a key role in supporting the development of key economic sectors in Mauritius and remains committed to continuing doing so. For example, we finance education, support SMEs through platforms like Punch, and provide long-term financing to sectors like textile, which has historically helped build Mauritius’ middle class.
3 years ago, we launched a 10 billion rupee ESG financing envelope to support sustainable projects. It is fully utilized and we are considering increasing substantially this envelope. We are also actively involved in agro-industry, fintech, and innovation. Our approach goes beyond profit, it’s about fostering national development because when Mauritius succeeds, we succeed.
6. The UAE and Mauritius share strong economic and financial links. What opportunities do you see for partnerships with UAE-based investors, banks, fintechs, or sovereign institutions?
The UAE, particularly Dubai, offers complementary capabilities. We are expanding our presence at the Dubai International Financial Centre (DIFC) to scale our operations and staff. Dubai is increasingly focused on sub-Saharan Africa, providing opportunities for partnership rather than competition. Together, we can serve mutual clients in cross-border finance, investment, and innovation.
7. Finally, what message would you like to share with our readers about MCB’s long-term commitment to innovation, regional leadership, and Mauritius’ vision as a global financial hub?
Deeply rooted in Mauritius, MCB’s long-term commitment is to Africa and its transformation. We aim to innovate, digitalize, and add value to the continent while supporting Mauritius as a connected international financial centre. Our strategy emphasizes partnerships and sustainable growth, rather than competition, with the ultimate goal of contributing to Africa’s development and prosperity. The future of the continent, and indeed the planet, is Africa, and we are fully committed to that journey.
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