Standard Bank Mauritius is expanding its offering to now serve family businesses and medium-sized businesses in Africa, thanks to the introduction of a dedicated division, Business and Commercial Banking (BCB). The official announcement was made at the Bank's headquarters in Johannesburg during a launch ceremony.

For François Gamet, CEO of Standard Bank Mauritius: “The Bank builds on its long-standing presence in Mauritius, which has historically focused on global multinationals and large listed companies through its Corporate and Investment Banking (CIB) branch since its creation in 2001. Businesses that want to use Mauritius as a global gateway for trade and investment to Africa will now have access to all the benefits that Mauritius, as the leading international financial center (IFC) in Africa, has to offer investors. The introduction of a dedicated Business and Commercial Banking (BCB) branch to the Mauritian offer is a natural extension of the facilities and services that the Bank already offers to its current portfolio of clients such as global multinationals and large listed companies.

“Serving this new customer segment in Mauritius also meets the Bank's strategic goals of promoting and contributing to the growth of African markets,” says François, adding that, for our customers and potential customers, for our customers and potential customers, Standard Bank Mauritius also offers the added appeal of its strategic partnership. eacute with the Industrial and Commercial Bank of China (ICBC), the largest bank in the world, ICBC, ideally positioned between Africa

Tunde Macaulay, Head of Africa and Offshore Regions for Standard Bank Business and Commercial Banking, commented on the launch: “Our customers will now be able to take full advantage of the benefits of an IFC that facilitates international business and operates within a solid regulatory framework. The benefits of Mauritius also include political and economic stability, factors that have contributed to making it a prime cross-border business and investment hub for Africa. The island's location, a few hours' flight from the main centers of the African continent, and visa-free access for many countries have contributed to its status.

“For large family businesses and local companies that we have banking relationships in our 20 markets in Africa, operating through the Mauritian IFC means opening up investment and trade opportunities that capitalize on its business-friendly environment, solid infrastructure, and workforce. oelig; qualified work, its competitive tax rates and its well-regulated banking sector. For African businesses, Mauritius is therefore a place to protect their assets and working capital in the face of the current challenges faced by some African markets,” explains Macaulay

“We believe that our strong presence in 20 African countries and our in-depth knowledge of the continent are additional assets for family businesses and local businesses across the continent. By expanding our offer in Mauritius, we are allowing our geographical footprint to be fully exploited for the benefit of our customers,”