Mauritius Commercial Bank (MCB) Group is eyeing a piece of Kenya’s investment pie after successfully setting up its local representative office at Westlands Nairobi on January 30, 2019.
Following the official opening of the representative office, the Group proceeded to send a delegation of 16 highly experienced representatives, led by MCB’s Chief Executive Officer (CEO) Alain Law Min and board chairman, Jean-François Desvaux, to travel to Kenya and assess the market in terms of business potential.
According to the group’s CEO, the company was drawn in by Kenya’s potential for business which, if undertaken successfully, can put Mauritius on the map as a transnational financial centre of status.
“We want to position MCB Group as a strong and competitive regional financial hub, leveraging Mauritius as an international financial centre of repute and substance,” Alain Law Min, the company’s CEO, said in a statement.
“We are keen on enriching the appeal and adaptability of our value proposition across markets and segments and we believe we can create and develop fruitful partnerships with the business community in Kenya.”
Even though the firm is not planning to open branches in Kenya or East Africa any time soon, Mr. Min believes that the representative office will enable the firm to better announce its services to players in the region.
“Our presence has so far enabled us to forge partnerships with banks and corporates and hence develop our banking and non-banking product and services offers. In this respect, our Kenya rep office can be a doorway to Mauritius and MCB Group, and our array of products and services can be put to good use by Kenya corporates and banks as well”, the MCB Group CEO explained.
MCB Group is an integrated banking and financial services player, offering a comprehensive range of tailored and innovative solutions to its retail, corporate and institutional clients. Alongside consolidating its leading banking position in Mauritius, the Group has diversified its activities into the non-banking field, providing investor-related, leasing and factoring services.
The bank is currently rated 1stin East Africa and 19thin Africa in terms of Tier 1 capital.