“Africa’s Trade Potential: Belief, Boldness, and Business!”

Arnaud Levasseur, Executive Vice President Global Trade Solutions, MCB, and Director, MCB Trade Services

In a context of increasing global uncertainty and evolving trade dynamics, the African continent is brimming with opportunity. Central to the discussion is intra-African trade, digitalisation, sustainability, and regional collaboration. Arnaud Levasseur, Executive Vice President and Team Leader of Global Trade Solutions at MCB, and Director of MCB Trade Services, shares insights from the MCB Trade Week on how Mauritius and the wider continent can leverage these shifts to create lasting economic development.

What is the main message from the third edition of the Trade Week?

The main message is the emergence of new trends and how clients can begin preparing. We discussed the digitalisation of trade, settlement and payment methods, and evolving regulatory frameworks. In today’s context of tariffs and global disruption, the most important insight is that despite short-term challenges, the medium and long-term outlook is positive. We need to start thinking more seriously about intra-African trade. This is critical. The message is clear: if we work together and collaborate, we will become more resilient as a continent. We also showcased MCB’s Africa report, which presents the continent’s vibrancy and potential, and how we can transform local economies. We even touched on perspectives related to insolvency, through insights from Atradius, and how these dynamics can help clients rethink their approach, strengthen their models, and grow sustainably with a strong focus on Africa.

How does MCB Trade Week reflect the Group’s commitment to intra-African trade?

MCB is walking the talk. We bring experts, including our in-house specialists, to the table to raise awareness and change the narrative. Intra-African trade is not a risk to avoid; it is an opportunity to embrace. Through the Trade Week, we demonstrate how this shift is possible within the trade ecosystem.

Given current global tensions, what changes in trade trends could benefit African economies?

One key shift is the attitude towards trade within Africa. We need to believe in our continent. I gave the example of Namibia exporting beef. Initially, some might doubt the quality, but they’re already exporting to European markets. If I’ve eaten that beef in Europe and found it excellent, why wouldn’t I trust it coming directly from Namibia? It’s a subtle but critical mental shift. Positive perception and belief in African capabilities are essential to building trade.

How can Africa better integrate into global value chains?

Integration will come from boldness and courage. Clients must believe in themselves. As bankers, we must support them. We showcased a unique example of a low-carbon private cruise ship being built in Mauritius, something few would expect. This is another great example of innovating for the continent. If we inspire, if we start, demand will follow. This will attract international partners and strengthen African trade.

What are the main opportunities for intra-African trade?

First and foremost, mindset. We need to encourage ourselves to trade within Africa. Let’s buy from and sell to each other. Secondly, demographics: by 2050, one in four people, globally, will be African. By 2060, the African population will have doubled. A growing middle class will drive consumption. Just like we have evolved our consumption habits, so will Africans. We need to start now. Trading within Africa will create jobs, support families, improve education and healthcare, and raise living standards. It all starts with belief.

Which sectors offer the most promise for African and Mauritian businesses?

There are several. Energy transition, renewable energy, food and distribution… Conglomerates in Mauritius are eyeing agriculture, considering that two-thirds of the world’s arable land is in Africa. The youth opportunity is enormous. By 2040, Africa’s working population will surpass China’s. I was in Madagascar recently and saw immense potential in nearly every sector: telecoms, mobile phones, creative industries, food… Growth is everywhere!

“If we inspire, if we start, demand will follow”

How can regional cooperation enhance trade efficiency?

It’s vital. Governments and countries must speak to each other and enable the free movement of goods and people. Visa issues, for instance, need to be addressed. Better connectivity means more trade. Regional integration is key.

What role can digital payments play in cross-border trade in Africa?

Digital payments are essential. They offer efficient settlement systems, improve scalability, and could help integrate local African currencies. It’s not without challenges, but it’s worth exploring. Digital tools reduce reliance on manual processes. In a vast country like Madagascar, where distances are large, the ability to transact online instead of visiting a bank is a major advantage.

How are blockchain and fintech improving trade flows?

Fintech is enabling value creation by breaking down traditional systems. Each actor adds something. But we must collaborate and connect the dots. Working in silos is not the answer. Banks, fintechs, and partners must co-create efficient solutions. MCB is involved in numerous projects to digitise trade. But it requires collective effort across the ecosystem.

How can new trade solutions support both inclusion and sustainability?

At MCB, we are integrating sustainability into the way we structure trade transactions. We’re encouraging clients to think differently, and working with associations to elevate the social aspect. For example, in Madagascar, I met clients who provide meals to workers – sometimes their only daily meal. Some companies have dentists, doctors, and even pharmacies on-site. Others run cultural centres for employees’ children. These efforts don’t appear on balance sheets, but they matter. We must find ways to factor them into financial analysis and promote social returns. Supporting these businesses means supporting sustainable development.

Seen through a sustainability lens, where are the biggest growth opportunities for Mauritian firms in Africa? 

Mauritius has a strong international financial centre. This platform is a real asset. Many Mauritian companies are already investing in renewable energy, training, and upskilling workers. We are investing more intelligently and sustainably, with a human-centred approach. The opportunities are real and growing.

How can sustainability be integrated into supply chains and payments?

From a supply chain perspective, we are already doing it. We analyse sourcing, manufacturing processes, certifications, and sales practices. This allows us to offer better pricing and credit terms, and bring in our expertise to improve client practices. Payments may require other expertise, but supply chain sustainability is fully integrated into our assessments.

What role does ESG play in accessing African markets?

Currently, ESG is mostly driven by the North, with emphasis on the ‘E’. But for Africa, the focus will be on the ‘S’ – the social aspect. That’s why we’re working with partners to develop methodologies that reflect this shift. We must prepare now, as the ‘S’ will gain major importance.  

What is needed to unlock Africa’s trade and payment potential, and how can Mauritius play a role?

Mauritius is a sophisticated, well-connected financial hub. We can unlock value by leveraging our platform and promoting triangular supply chains. Negotiating non-fabric terms and using Mauritius as a trade gateway to Africa will create real opportunities. That’s how we help unlock value for clients and support the growth of African trade.