Mauritius bank eyes further collaboration with banks in SA
Mauritius Commercial Bank eyes more tie-ups with South African lenders as infrastructure spend expands in sub-Saharan Africa
Mauritius Commercial Bank (MCB) is maintaining close relationships with South African banking executives, with a view to further tie-ups on financing deals in the rest of Africa. "We would like to make more of the opportunity on the continent. There’s a huge infrastructure deficit in sub-Saharan Africa," said the bank’s UK-born CEO Antony Withers on a trip to Johannesburg. MCB, which has a representative office in Sandton, provides trade finance, energy financing, syndicated lending and structured project financing in Africa. It had already collaborated on more than 20 projects with South African banks on the rest of the continent, Withers said. "South Africa is still the flag-bearer of Africa." There was significant opportunity to develop the tourism and leisure industries in countries such as Kenya and Tanzania, he said. This was a core competency of the bank, since it had financed a number of Mauritian hotels.
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