Port-Louis, May 25: The MCB has announced the launch of a dedicated USD 1 billion envelope aimed at supporting trade in Africa and strengthening the Group’s long-standing commitment to the continent’s economic development.
This announcement is part of the continuity of concrete actions in favor of the African ambitions of the MCB Group, in particular the signing, a few weeks ago, of a Letter of Intent with Proparco and African partner banks, as part of the Africa AgriTrade Coalition, and the participation of its Chief Executive Officer (CEO), Thierry Hebraud, at the last edition of the Africa CEO Forum, in Rwanda, in mid-May.
This dedicated line strengthens MCB’s proactive approach to mobilizing trade finance solutions and supporting sustainable economic activity across the continent. This announcement also coincides with the commemoration of Africa Day, celebrated on Monday, May 25, around the world. This USD 1 billion envelope, dedicated to trade finance, will cover both financed facilities and unfunded Trade Finance instruments (confirmation of letters of credit, issuance of Trade Finance instruments, such as letters of credit, approved drafts, and guarantees) over a period of four years.
It aims to support economic transformation in Africa by offering adapted solutions and competitive access to trade finance, without a perceived risk premium. This initiative will help boost African trade corridors and support customers in their value-creation trajectories across the continent.
It also reflects the MCB’s ambition to play a leading role in strengthening and integrating regional value chains, with an emphasis on intra-African trade in accordance with the objectives of the African continental free trade area. Moreover, this major milestone is fully in line with the Group’s 2030 Vision, which places sustainable growth, regional integration, and long-term partnerships at the heart of its strategy.
Chief Executive Officer, MCB Ltd Thierry Hebraud commented: “Intra-African trade is an essential engine of growth. The establishment of a USD 1 billion envelope dedicated to Trade Finance sends a strong signal about our ambitions on the African continent, in perfect alignment with our 2030 Vision. We thus reaffirm our desire to concretely support Africa’s economic transformation by promoting sustainable growth, strengthening regional integration, and supporting our customers.”
