“MCB announces Felix Gichaga’s appointment as its Chief Representative Officer in East Africa”

The Mauritius Commercial Bank (MCB) has announced the appointment of Felix Gichaga as its new Chief Representative Officer in East Africa. Felix Gichaga brings extensive knowledge of the banking sector across the African continent, which will be instrumental in his role at MCB and in the region. 

Felix Gichaga joins MCB with a robust commitment to Africa’s development and a passion for supporting local enterprises, fostering entrepreneurship, and contributing to community development. His professional values of integrity, accountability, collaboration, and a commitment to enhancing stakeholder relationships align perfectly with MCB’s mission to drive sustainable growth and provide innovative financial solutions. “The Bank’s mission is in line with my professional values. I believe in the importance of ethical leadership that prioritises the greater good,” he said.

Strengthening MCB’s presence in East Africa 

In his new role, Felix Gichaga will focus on strengthening MCB’s presence in the Kenyan and East African market. His primary objectives include increasing market penetration and brand awareness, forging strategic local partnerships, providing tailored financial solutions, and offering advisory services to corporate clients. His knowledge of regional dynamics, ability to identify emerging trends, and expertise in building strategic partnerships will be vital in achieving these goals.

Significant opportunities 

By harnessing the strengths of the Mauritian International Financial Centre (MIFC) and MCB, Felix Gichaga is confident in effectively implementing his objectives in Kenya and East Africa, ultimately enhancing MCB’s market presence and contributing positively to the local economy. “The strengths of the Mauritian International Financial Centre and Mauritius Commercial Bank present significant opportunities to achieve my objectives as the Chief Representative Officer in Kenya. By harnessing these strengths, I am confident that we can implement our objectives and overcome the main challenges,” he said.

Leveraging MCB’s expertise to overcome challenges

While the main challenges remain access to finance, infrastructure deficiencies, market volatility and supply chain disruptions, MCB’s new Chief Representative Officer in East Africa is of the opinion that MCB can provide accessible financing solutions, invest in infrastructure development and propose tangible risk management solutions. MCB can also provide financing solutions tailored to support supply chain operations, including inventory finance, and maintain operational continuity. Felix Gichaga also intends to rely on MCB’s capabilities in providing strong market insights and research by leveraging its expertise in the region. These will help businesses identify opportunities and develop effective strategies for growth in a competitive landscape.

Thierry Hebraud, CEO, MCB Ltd said: “At Mauritius Commercial Bank (MCB), we are dedicated to providing innovative financial solutions and driving sustainable growth. Felix’s appointment is crucial as it underscores our commitment to responsible banking practices and ethical leadership. Felix’s extensive knowledge of the African banking sector and his role as Chief Representative for MCB in East Africa will be instrumental in forging strategic partnerships and enhancing our market presence. I look forward to the impactful contributions Felix will bring to the broader mission of furthering the region’s economic development.”

‘Strong Buy’ recommendation on SBM stock

In the wake of its recently published quarterly financial results, AXYS Stockbroking Ltd has released an analysis on SBM Holdings. With an intrinsic value of Rs 9.93, there is a potential upside of 70.1% from the last closing market price (Rs 5.84) on the Stock Exchange of Mauritius. “Given the high potential upside and an improvement in risk profile, we maintain our STRONG BUY recommendation on the stock,” says the report.

It is to be recalled that SBM Holdings released its Financial year 2024 results and the group posted a Profit After Tax of Rs 4.34 bn, representing a minor growth of 0.5%. The growth was primarily driven by a rise in Loans and Advances, which increased by 19.3% to Rs 180.3 bn, and now account for 42% of total assets, surpassing Investment Securities.

The Group continues to remain funded by mainly deposits (84%) and equity. This represents a cost of risk of only 0.24% in 2024, a drastic improvement from 0.69% in 2023. “The group did not report its non-performing loans in its abridged report, but given the fall in cost of risk, we can assume that SBM Holdings loan book remains much healthier compared to prior years. The Holdings’ cost of risk stands at a 20-year low,” suggests AXYS Stockbroking in its analysis.

AI EmpowerHER 2025: Breaking Barriers & Elevating Women in Artificial Intelligence 

Despite AI transforming industries worldwide, women remain significantly underrepresented in the field. AI EmpowerHER 2025 is changing that narrative by equipping women with the skills, tools, and opportunities to thrive in AI-driven industries. As a pioneering initiative spanning multiple countries, this programme is more than just training – it’s a movement towards a more inclusive digital future. AI EmpowerHER 2025 is dedicated to ensuring equal access to AI education, mentorship, and career pathways, helping women secure their place in the future of tech.

AI EmpowerHER is therefore launching a full-scale AI training and mentorship programme designed to empower women for AI-related careers till 11 April 2025. Participants will work on real-world AI case studies, with top performers gaining industry recognition, mentorship, and awards. Designed primarily for Mauritian women entrepreneurs, this platform supports women-led AI start-ups and business ideas, offering rewards and mentorship.

Study in India Fair connects Mauritian students with premier Indian educational institutions

The Study in India Fair, held on March 15^th and 16^th at the Hennessy Park Hotel, Ébène, concluded with resounding success, connecting Mauritian students with leading educational institutions from India.

The two-day fair provided a unique platform for students and parents to explore a wide range of academic opportunities, including undergraduate, postgraduate, and doctoral programs across various disciplines. Participating institutions showcased their cutting-edge facilities, diverse curricula, and scholarship opportunities, highlighting India as a premier destination for higher education.

“We are thrilled with the overwhelming response to the Study in India Fair. The event successfully facilitated meaningful interactions between students and representatives from esteemed Indian universities and colleges. We believe this initiative will significantly contribute to fostering educational exchange and strengthening the ties between Mauritius and India,” said Rajeshwari Jayasankar, Director of Campus Abroad.

Many participating institutions highlighted scholarship programs specifically designed for international students, making quality education more accessible. Informative sessions were conducted on various aspects of studying in India, including visa procedures, accommodation, and cultural adaptation. The fair witnessed a significant turnout of students and parents, demonstrating the strong interest in pursuing higher education in India.