By Shruti Menon Seeboo
As one of Africa’s most internationally connected banking institutions, the Mauritius Commercial Bank has spent more than three decades building a platform that sits at the crossroads of global capital and continental opportunity. With over 60 percent of its profits now generated outside Mauritius and a presence spanning hubs in Johannesburg, Nairobi, Lagos, Paris, and Dubai, MCB has evolved well beyond its domestic roots into a structurally significant player in African finance — one that accompanies clients across borders, jurisdictions, and asset classes. The Mauritius International Financial Centre has been central to that journey, providing the regulatory credibility, professional infrastructure, and international connectivity that few other jurisdictions on the continent can match.
As the 6th India-Africa Entrepreneurship & Investment Summit convenes in Cape Town from 13 to 15 July, the question of how the India-Africa corridor can deepen from transactional trade into long-term investment ecosystems sits at the heart of the agenda. Tema Vayavooree, Executive Vice President CIB – Global & International Corporates at MCB, shares her perspective below.
- MCB has described the India-Africa corridor as maturing from trade into shared ambition and ecosystems. What does that maturity look like in practice, and where do you see the next big opportunities?
From a GIC perspective, the India-Africa corridor is no longer only about transactional trade flows; it is increasingly about long-term partnerships, investment platforms, supply-chain integration and sector-specific ecosystems linking Indian capabilities with African growth priorities. For MCB, the next opportunities lie in supporting these flows with structured and cross-border transactional solutions for groups operating across multiple jurisdictions.
The Mauritius IFC unlocks opportunities by providing a credible, well-regulated and internationally connected platform for two-way investment flows between Mauritius and India, including investment from Mauritius into India and enabling Indian and global investors to structure investments into Africa, manage regional treasury flows and access professional, legal, fiduciary and banking expertise in one location. In practical terms, maturity means moving from single-country, single-transaction relationships to multi-market partnerships where MCB can accompany clients across Africa.
- How does Mauritius’s role as an international financial centre give MCB a structural advantage that a purely domestic or purely continental bank would not have?
Boasting more than 30 years of existence, the Mauritius International Financial Centre (MIFC), positions Mauritius as the hub for financial and commercial flows linking Asia, Europe, the Middle East, and the USA with Africa.
The MIFC gives us exceptional visibility and positioning, and we use it in our growth strategy in Africa and beyond. It has helped not only consolidate our local positioning but also diversified our activities and markets.
As Mauritius continues to strengthen its position as a key business enabler between Africa and the world, its evolution as an international financial hub will be focused on facilitating higher capital flows into Africa, the expansion into specialized financial services like FinTech, digital assets, and sustainable finance and the adoption of advanced technologies such as AI, automation alongside reinforcing cybersecurity. As the leading banking player in the jurisdiction, MCB is determined to continue playing a key role in this journey.
- More than 60% of MCB’s profits now come from outside Mauritius. How does MCB ensure that its international growth continues to benefit the domestic economy and business community?
MCB is intimately linked to the economy and culture of Mauritius. It is our roots in Mauritius that have enabled our international expansion. MCB is everybody’s bank in Mauritius and will remain so. We will continue serving our communities with purpose and care.
One of our challenges is to ensure we provide optimal service to each client, both locally and internationally.
As the leading bank in Mauritius, we are dedicated to the development of the country and fostering a more diversified, digitally enabled and sustainable future for our economy. MCB ensures its international growth benefits Mauritius by reinvesting in domestic innovation and leveraging its global reach to create opportunities for Mauritian businesses and the broader economy.
- Cross-border financing in Africa can be complex due to fragmented regulation, currency risk, and uneven banking infrastructure. How is MCB navigating those challenges as it expands its continental footprint?
MCB’s approach on the continent is deeply anchored in its pragmatic understanding of Africa’s realities, positioning itself in niche segments. The imperatives of Africa highlight the complexity of its energy landscape – a continent recognised as most vulnerable to climate change impacts, yet bears a disproportionate share of climate costs, contributing to only around 4% of global CO2 emissions, while as per the World Bank, roughly 600 million Africans lack access to electricity.
Meeting this pressing need requires a just and balanced energy transition that accelerates the shift to a low-carbon economy and climate-resilient future in a way that is inclusive and fair, ensuring no one is left behind. Today, MCB positions itself as a key player in structured finance in Africa, with a major role in the development of essential infrastructure, namely in renewable energy, technology and telecommunications as well as metals and minerals, while ensuring that our efforts are executed in the most responsible manner.
Private Equity is also an area of great potential for MCB in Africa, where the bank is gaining visibility. We have become known thanks to our competence and the quality and uniqueness of our offers in that sector. With deep knowledge of both African and international regulatory landscapes, MCB supports clients in structuring compliant and efficient cross-border operations.
Through our dedicated team of relationship managers and our strategically-located hubs in Johannesburg, Nairobi, Lagos, Paris and Dubai, we leverage our unique positioning in the Mauritius International Financial Centre to accompany our clients and partners in their activities to or from African markets with tailored solutions ranging from transactional services to structured financial expertise. We further strengthen this approach by partnering with trusted local stakeholders on the ground across Africa, ensuring deep market insight.
