MCB Group a financial holding company from Mauritius has opened a representative office in Nairobi. The Group which operates the oldest bank in Mauritius, the Mauritius Commercial Bank is expected to use its new office to gauge opportunities in the Kenyan market and build strategic relationships.
The MCB Group which started out as Mauritius Commercial Bank some 180 years ago has grown into an entity with an asset base of $12 Billion. It operates under three business clusters that is banking, non-bank financial services and other investments. It has banking interests in Madagascar, Mozambique, Reunion Island, Mayotte, Paris, Seychelles and Maldives.
MCB Group CEO, Mr. Alain Law Min had this to say about the reason they chose Kenya, “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. We are keen on enriching the appeal and adaptability of our value proposition across markets and segments, whilst upholding organization-wide synergies and collaborative partnerships. We believe we can create and develop fruitful partnerships with the business community here.”
Mr. Alain, also added that, “Whilst there is no immediate intention to open branches and banking halls in Kenya and East Africa, the Nairobi Rep office will enable MCB to better gauge the opportunities and develop strong relationships in this 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”.