{"id":16822,"date":"2022-06-20T10:46:11","date_gmt":"2022-06-20T10:46:11","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval"},"modified":"2022-06-20T12:02:41","modified_gmt":"2022-06-20T12:02:41","slug":"mauritius-bank-in-talks-with-cbn-for-operational-approval","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval","title":{"rendered":"Mauritius Bank in talks with CBN for operational approval"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mauritius. <\/strong><\/span>The Head of Corporate and Institutional Banking of Mauritius Commercial Bank (MCB), Thierry Hebraud, has revealed plans to expand the company\u2019s operation into Nigeria, as the company reviews its revenue sources.<\/p>\n<p>During the Africa CEO Forum in Abidjan, Cote D\u2019ivoire, on Tuesday, Hebraud said Mauritius Commercial Bank is in its final approval stage of the Central Bank of Nigeria (CBN), and operation will commence in Africa\u2019s largest economy in a couple of months.<\/p>\n<p>According to him, the financial institution\u2019s branch in Nigeria would have started sooner, but it was delayed by the <a href=\"https:\/\/www.&lt;br&gt;&lt;\/p&gt;&lt;p&gt;ripplesnigeria.&lt;br&gt;&lt;\/p&gt;&lt;p&gt;com\/tag\/COVID-19\/\">COVID-19 pandemic<\/a>, however, discussion is now underway to ensure Nigeria becomes one of its earnings market.<\/p>\n<p>\u201cToday, more than 50% of our balance sheet is outside Mauritius, and the major part is in Africa,\u201d he said.<\/p>\n<p>\u201cI believe within the next couple of months, we will be operating the new representative office in Nigeria.<\/p>\n<p>\u201d Hebraud was quoted by <a href=\"https:\/\/www.&lt;br&gt;&lt;\/p&gt;&lt;p&gt;reuters.&lt;br&gt;&lt;\/p&gt;&lt;p&gt;com\/world\/africa\/mauritius-commercial-bank-open-nigeria-office-africa-growth-plan-2022-06-14\/\">Reuters<\/a>.<br \/>\nMauritius Commercial Bank has invested around $300 million in Ghana, and $200 million in both Senegal and Ivory Coast. The firm\u2019s quest to invest in the Nigerian market comes amid plan to make an inroad into the renewables and mining market.<\/p>\n<p>The lender had previously focused its investment in upstream and downstream oil and gas industry, but with global investment moving from fossil fuels to green energy, the company is readjusting its portfolio to house the latter. Hebraud said, \u201cWe believe we\u2019ll continue to grow in the oil and gas sector, but at a slower pace.<\/p>\n<p>We\u2019ll definitely grow in the energy and infrastructure,\u201d adding separately that there\u2019s need to continue investing in oil &amp; gas despite the switch, \u201cImagine all banks withdraw from this sector, you\u2019ll shut down the electricity of half the continent.<\/p>\n<p>\u201d he said. Balanced, fearless journalism driven by data comes at huge financial costs. As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.<\/p>\n<p>If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause. Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mauritius\">Mauritius<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mauritius. The Head of Corporate and Institutional Banking of Mauritius Commercial Bank (MCB), Thierry Hebraud, has revealed plans to expand the company\u2019s operation into Nigeria, as the company reviews its revenue sources. During the Africa CEO Forum in Abidjan, Cote D\u2019ivoire, on Tuesday, Hebraud said Mauritius Commercial Bank is in its final approval [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":16821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,245,373,241],"class_list":["post-16822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mauritius","tag-bank","tag-mauritius"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mauritius Bank in talks with CBN for operational approval - Mauritius<\/title>\n<meta name=\"description\" content=\"The Head of Corporate and Institutional Banking of Mauritius Commercial Bank (MCB), Thierry Hebraud, has revealed plans ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mauritius Bank in talks with CBN for operational approval\" \/>\n<meta property=\"og:description\" content=\"The Head of Corporate and Institutional Banking of Mauritius Commercial Bank (MCB), Thierry Hebraud, has revealed plans ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-20T10:46:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-20T12:02:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2022\/06\/postQueueImg_1-62b0619976c00.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"468\" \/>\n\t<meta property=\"og:image:height\" content=\"243\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mauritius Bank in talks with CBN for operational approval\",\"datePublished\":\"2022-06-20T10:46:11+00:00\",\"dateModified\":\"2022-06-20T12:02:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval\"},\"wordCount\":394,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2022\/06\/postQueueImg_1-62b0619976c00.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Bank\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/mauritius-bank-in-talks-with-cbn-for-operational-approval\",\"name\":\"Mauritius Bank in talks with CBN for operational approval - 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