Forty-bank forum looks at Mauritius Commercial Bank’s one-stop shop initiative

By Andrei Skvarsky.

Forty African banks took part in last week’s iteration of an annual event in Mauritius whose main purpose is to showcase an initiative by Mauritius Commercial Bank Group (MCB), East Africa’s biggest lender, to be a one-stop shop for banks by providing a regional platform for trade finance, cards outsourcing and consultancy.

Altogether 108 financial institutions representing 27 countries have discussed MCB’s Bank of Banks initiative at the Africa Forward Together (AFT) annual conferences since the forums were launched in 2009, according to Dakar-based newswire APO.

The 2016 conference was held in Balaclava, a seaside town in the insular country of less than 1.3m people from September 18 to September 23.

International operations make up the bulk of the business of MCB, which is present in several countries besides Mauritius, including France, South Africa, Kenya and Madagascar, APO said.

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