MCB Group, a Mauritius-based lender, through its recently-launched representative office in Nairobi, plans to position itself as a strategic partner of businesses in Kenya and East Africa.
The Group’s new representative office was officially opened on January 30th. The launch has since given the opportunity to a 16-person strong delegation from Mauritius, led by MCB’s CEO Alain Law Min and board chairman, Jean-Francois Desvaux de Marigny to travel to Kenya.
The presence on Kenyan soil has been touted as a strong statement of MCB’s assessment of the Kenyan market in terms of business potential. MCB Kenya representative office is spearheaded by Mrs Seema Dhanani, the group’s Chief Representative Officer.
Alain Law Min, CEO of MCB Ltd, believes that Kenya has great potential for business and is appealing to the Group.
“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,” he explained.
“We are keen in 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,” added Mr. Law Min.
He stated that while there is no immediate intention to open branches and banking halls in Kenya and East Africa, the Nairobi representative 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,” he said.
MCB Group is an integrated banking and financial services player, offering a comprehensive range of tailored and innovative solutions to its retail, corporate and institutional clients. From a single bank, MCB has grown into a Group with a total asset worth of $12 billion. MCB Group is the holding company of several subsidiaries and associates that operate under three business clusters: Banking, Non-Banking Financial and Other Investments.
Banking activities are present in Madagascar, Mozambique, Reunion Island, Mayotte, Paris, Seychelles and Maldives, with a network of around 1,250 correspondent banks across the world.
The Group is present in nine countries and is actively involved in Sub-Saharan Africa through participation in major cross-border deals and its ‘Bank of Banks’ axis, which aims at positioning it as a regional hub for handling trade finance, card operations and consulting services linked to project management and high-end IT solutions.