“Everyone around the world is searching for solutions…”

From your perspective, how relevant and impor­tant are initiatives like the MCB Trade Week?

Initiatives like the MCB Trade Week are incredibly sig­nificant in bringing together collaborative partners from various sectors—business, thought leadership, institu­tions, and financial services. The future of trade relies on these collaborations, especially if we aim to make trade sustainable. To achieve this, we need to approach trade in new and innovative ways, which is precisely what events like Trade Week aim to foster.

You mentioned that Africa should not be focused solely on prices but also on trade value. Could you elaborate on that?

In economics, we often discuss markets in terms of price. Africa, however, has a unique opportunity to re­define this approach because much of the continent remains underdeveloped. Rather than focusing solely on price, Africa can also consider value, encompassing sustainability and the social aspects of trade. This involves asking questions like: What are we doing for communities? How are we contributing to health, education, and job creation? This shift towards value creation is what makes Mauritius, as a financial centre, so crucial in leading this transformation.

You also mentioned changing the narrative and moving up the value chain for African businesses. Could you explain what you mean by that?

Of course. Traditionally, African businesses are often seen by the outside world as low-cost suppliers of com­modities, operating with minimal regulation. This per­ception is not based on values, and Africa has the oppor­tunity to change this narrative. By focusing on value and sustainability, African businesses can move up the value chain, which means not just extracting resources but adding value through processing and creating higher-end products. This involves integrating more complex busi­ness services and fostering a broader range of economic activities. Events like the MCB Trade Week demonstrate that these changes are already happening within the Afri­can business community.

African businesses can move up the value chain, which means not just extracting resources but adding value through processing and creating higher-end products

How can we make sustainability resilient?

Sustainability and resilience are closely related. Sustain­ability aims for long-term endurance, incorporating a social dimension, while resilience ensures systems can withstand challenges without breaking down. To achieve resilience in sustainability, we need to ensure that our definitions and approaches to sustainability for African communities, businesses, and financial systems can en­dure the unique challenges the continent faces. This in­volves building solutions from the ground up, for Africa, by Africa.

The challenges in Africa are significant. Where do we begin?

Let’s start with the beginning. Right now, everyone around the world is searching for solutions, and Africa has a lot at stake. The challenges are such that Africa could falter without effective collaboration. Regional trade organisations like the African Continental Free Trade Area and others across Africa are not yet work­ing together as efficiently as they could. To address these challenges, the private sector, business community, and financial services need to find ways to amplify sustain­ability efforts to ensure they are resilient and cannot be easily broken down.

Mauritius, despite being a small island, has the MCB as a bank expanding into regions like Africa. How do you assess this move from your profes­sional experience?

Starting small is often the best approach, and Mauritius is an ideal place to begin. The MCB’s expansion into re­gions like Africa is a significant move, reflecting the im­portance of trade and finance. Trade and finance are the backbone of global commerce, and smaller countries like Mauritius can have a considerable impact with the right strategy. This expansion demonstrates how small begin­nings can lead to significant outcomes, emphasizing the potential for growth and influence.