The Mauritius Commercial Bank (MCB) hosts 50 top executives representing 37 African banks at the week-long 2015 Africa Forward Together conference
The Mauritius Commercial Bank (MCB) (MCBgroup.com) hosts 50 top executives representing 37 African banks at the week-long 2015 Africa Forward Together conference which opened yesterday, 15 November at the five-star Long Beach Resort. Africa Forward Together is an annual event organised by MCB since 2009 to showcase its “Bank of Banks” initiative.
The Bank of Banks
« Bank of Banks » aims at positioning MCB as a regional platform offering bundled banking and financial industry capabilities to its counterparts. Bankers attending the Africa Forward Together event get first-hand knowledge of MCB’s human expertise and technological capabilities while exploring collaboration possibilities that could allow them to boost their services through outsourcing in Mauritius.
Over the last few years, an increasing number of African banks have teamed up with MCB to serve their customers better and more efficiently. Some have managed to offer new services to their customers in record times without investing heavily in technology or human resources. Others have discovered opportunities to expand their businesses through intelligent collaboration with one of Africa’s leading banks.
A true partner
The « Bank of Banks » initiative is a key component of MCB’s African growth strategy. Instead of opening outlets across the continent and competing with local banks, MCB prefers to position itself as a privileged partner for institutions that want to scale new heights. As Africa gradually fulfills its promises and realizes its enormous potential, the continent’s banks are facing new challenges and have to meet growing and changing customer needs.
“This is where MCB fits in. We have been there before as we have gradually worked our way up. We have the experience, the expertise and the technology to assist these banks move forward and climb the next steps. And our pricing is extremely competitive so it makes the value proposition even more exciting,” says Raoul Gufflet, Deputy Chief Executive of MCB.
Adding value to banking
MCB offers a full range of value added services to banks. This includes the issuance of documentary credits, international payments, management of cards services and electronic banking, internal auditing, risk management, non-banking financial services, custody services, SWIFT transfers and consulting services among others. By leveraging MCB’s world-class expertise, rich experience and state-of-the-art technology, other banks have an opportunity to speed up their development while delighting their customers.
A regional leader
Established in 1838, MCB is today the largest bank in East Africa and the 18th biggest on the continent. It is a blue chip on the Stock Exchange of Mauritius where it accounts for nearly a quarter of market capitalisation. Its strategy is to continuously diversify its services and its markets. To date, MCB’s international operations account for 55% of its results. It is currently present in Mauritius, South Africa, Kenya, Seychelles, Madagascar, Maldives, Mozambique, Réunion, Mayotte and France through a network of branches, associate companies and representative offices. It also has a vibrant network of correspondent banks across Africa and the rest of the world.