MCB to lead Mauritian delegation at the Africa CEO Forum

The MCB will be the flag bearer of a Mauritian delegation that will participate in the Africa CEO Forum 2017. Representatives of some 20 Mauritian companies will be present in Geneva on 20 and 21 March at this annual meeting that is unavoidable for makers and financiers of the African private sector.

"Our presence at the Africa CEO Forum as a Diamond Sponsor for the third consecutive year demonstrates how important Africa is for our development. We are a Mauritian, regional bank, resolutely focused on Africa and the continent is an integral part of our long-term vision,” said Raoul Gufflet, MCB Deputy Chief Executive.

The fifth edition of the Africa CEO Forum is expected to host more than 1,000 African and international figures, key decision-makers in industry, finance and politics from more than 60 countries. This event will serve as a platform for discussing the future of Africa and identifying business opportunities on the continent. The participants will enrich their strategic visions and exchange with the economic and financial community on their development and investment objectives.

Ziyad Bundhun, Rogers' Chief Finance & Investment Executive, confirms that the Africa CEO Forum is the ideal place to find strategic partners: “The forum has benefited us since its very first edition when it allowed us to make the contact With a major European investor who has been with us for some time in our strategic development process in Africa.”

Cédric de Spéville, CEO of the Eclosia Group, will also be in Geneva. “Our existing operations in the region, especially in Madagascar for more than 20 years, and our projects on the continent, Africa and regional development remain important for our group. It will be a great opportunity to meet with stakeholders in the different sectors and to improve our knowledge of the main trends and issues on the continent.”

The Mauritian companies that will be present at the Africa CEO Forum come from different sectors but their objective is common: to benefit from a premium networking to advance their business in Africa. Thierry Sauzier, Deputy Director General of the Medin Group, sums up this state of mind: “Our goal is essentially to meet the main African economic players and to exchange a maximum, possibly to develop synergies within our projects.”

The Africa CEO Forum will once again serve as a showcase for the MCB, which will present its expertise, experience, strategy and services to the smallest detail. The forum will also offer networking opportunities with influential players in African and international finance, which should lead to new avenues of collaboration. MCB will actively participate in high-level exchanges that will determine the future of African enterprises. This will prove once again its determination to be an actor and a driving force in the development of the African private sector.

The continent of opportunities

MCB did not wait for Africa to be in fashion to take an interest in it. The continent is part of the strategy of diversifying its markets and activities since 1991. It has gradually increased its presence on the continent, notably in financing international trade (mainly raw materials and petroleum products) and projects, investment, bank cards, consulting, private banking and asset management. The MCB intends to expand its activities in Africa through increased participation in credit syndication and structured finance as well as the acceleration of the Bank of Banks initiative.

Today, MCB makes almost half of its profits abroad, especially in the region and in Africa. It is now the largest bank in East Africa and ranks 17th in Africa according to The Banker. Present in ten countries – with representative offices in Johannesburg (South Africa) and Nairobi (Kenya) – MCB operates across the continent. In recent years, it has offered its services to about a hundred companies and financial institutions in some thirty African countries.

Promotion of the Mauritian hub

In Geneva, the MCB will also promote the financial hub that Mauritius hopes to become. The country is now affirming itself as a credible jurisdiction offering a secure platform and attractive facilities for investment in Africa. Mauritius has already signed 44 "Investment Promotion and Protection Agreements" (23 with African countries) and 43 "Double Taxation Avoidance Agreements" (including 28 with African countries) with various countries, while offering an exceptional tax regime.

Werath Bhugeloo, a partner at Abax Corporate Services, said that the Africa CEO Forum “has enabled us to meet African private sector leaders who are committed to developing the continent, building a knowledge network and promoting Mauritius As an International Financial Centre.” While the stagnation of the global economy is hampering the growth of African countries, this new edition responds to the desire of companies and states to boost financial flows to Africa to contribute to the realisation of their infrastructure projects and of development.

“Africa is at a crossroads. Exploring new avenues for collaboration and forging new partnerships is essential. The theme of the event is 'Shaping Africa' and the MCB wants to be part of this momentum aimed at drawing the Africa of tomorrow,” adds Raoul Gufflet.