Banking in Africa: Delivering on Financial Inclusion, Supporting Stability
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Banking Research Report
24 March 2017 3rd January 2017 Banking Research Report Industry Overview As of March 2017, the local banking industry constitutes of 23 licensed banks by the Bank of Mauritius (BoM), of which 10 are local banks, 9 are foreign-owned subsidiaries, and 4 are branches of international banks. Of the 23 banks, 2 carry on exclusively private banking business and 1 carries on exclusively Islamic banking business. In April 2015, the BoM revoked the banking licence of Bramer Banking Corporation Ltd (BBCL) owing to serious impairment in its capital and failure to demonstrate its ability to address capital and liquidity issues in accordance to the BoM’s requirements. A new licence has been issued to the National Commercial Bank Ltd (NCB Ltd) with the assets of ex-BBCL transferred to the new bank. In early January 2016, the assets and liabilities of NCB Ltd were transferred to the Mauritius Post and Cooperative Bank Ltd, which now operates as a new entity known as the MauBank Ltd. Following the aforementioned revocation, dealings in the securities of the defunct Bramer Bank has been suspended by the Stock Exchange of Mauritius (SEM) with immediate effect. On another note, ABC Banking Ltd which obtained its banking licence in year 2010, was listed on the Development and Enterprise Market (DEM) of the SEM on the 18th February 2016. The newcomer witnessed a remarkable hike of 83.3% to its introductory share price of Rs15.00 during the year 2016 and hit a record high of Rs27.80 during February this year. With the vision to act as a bridge between Africa and Asia, BOM issued a licence to the Bank of China (Mauritius), a subsidiary of the Bank of China, which started its operations in Sept 2016. -
Effectiveness of Financial Risk Management Framework: an Analysis of the Mauritian Banking Sector
Journal of Financial Risk Management, 2019, 8, 106-124 http://www.scirp.org/journal/jfrm ISSN Online: 2167-9541 ISSN Print: 2167-9533 Effectiveness of Financial Risk Management Framework: An Analysis of the Mauritian Banking Sector Lilesh Sookye, Aleesha Mohamudally-Boolaky University of Technology, Mauritius, Port Louis, Mauritius How to cite this paper: Sookye, L., & Abstract Mohamudally-Boolaky, A. (2019). Effective- ness of Financial Risk Management Frame- The global economic meltdown caused by the subprime mortgage crisis in the work: An Analysis of the Mauritian Bank- United States in 2007 along with its subsequent adverse effects on the econ- ing Sector. Journal of Financial Risk Man- omy, financial participants around the world, have raised questions on the agement, 8, 106-124. effectiveness of the financial risk management policies adopted by financial https://doi.org/10.4236/jfrm.2019.82008 institutions and banks worldwide. This study focuses on the analysis of the Received: April 28, 2019 risk management framework and its efficiency in the Mauritian banking sec- Accepted: June 18, 2019 tor. Panel regression and Non-parametric regression Lowess Smoother meth- Published: June 21, 2019 odologies were employed in measuring the impact of the various financial risks on the efficiency of risk management of a sample of ten Mauritian banks Copyright © 2019 by author(s) and over a period of eight years. The dependent variable selected to measure risk Scientific Research Publishing Inc. This work is licensed under the Creative management efficiency is the Capital Adequacy Ratio (CAR). On the other Commons Attribution International hand, the financial risks indicators are the credit risk (CRisk), liquidity ratio License (CC BY 4.0). -
Bank of Mauritius Covid-19 Household Support Programme Frequently Asked Questions (Faqs)
BANK OF MAURITIUS COVID-19 HOUSEHOLD SUPPORT PROGRAMME FREQUENTLY ASKED QUESTIONS (FAQS) 1. What is the BOM COVID-19 Household Support Programme? The prevailing situation may pose a huge challenge for people at large. As a measure of solidarity, The Bank of Mauritius has permitted all commercial banks to offer households earning a combined monthly basic salary of up to Rs 50,000 the following moratorium on their existing loans: a) Up to 6 months moratorium on capital repayments on their existing household loans as from 01 April 2020. b) In addition, relief on interest payable for the month of April, May and June 2020. 2. What is the definition of a “household”? A household comprises of a husband and wife jointly, or a single parent. 3. What is the effective date of the measures to households? The measures are effective 1st April 2020. Capital and interest repayments remain operational for March 2020. 4. What is a household loan and which credit facilities are concerned? Household loans include all existing consumer Mauritian Rupee loans, which have been disbursed to a household by a commercial bank. Applicable loans are therefore Personal Loans, Housing Loans and Educational Loans. Overdrafts, credit cards, leasing facilities and other such facilities that do not reckon as a loan are excluded. 5. What is the eligibility criteria under the BOM scheme? a. Households having consumer loans with MauBank Ltd and adversely impacted by COVID- 19. b. In addition, the combined monthly basic salary of the household (husband and wife jointly or single parent) should not exceed Rs 50,000* 6. -
Merchants Acceptance of Plastic Cards Payments in Mauritius
Academy of Marketing Studies Journal Volume 25, Issue 2, 2021 Recommendations POST COVID 19 CASHLESS SOCIETIES: MERCHANTS ACCEPTANCE OF PLASTIC CARDS PAYMENTS IN MAURITIUS Sharmila Pudaruth, University of Mauritius Thanika Devi Juwaheer, University of Mauritius Lomendra Vencataya, University of Mauritius Rajesh Sannegadu, University of Mauritius ABSTRACT The paper aims to provide broad insights towards the acceptance of plastic card payments from merchants in Mauritius. A quantitative research approach has been adopted for the paper whereby the perceptions of merchants have been tapped by adopting quantitative research techniques, by conducting a survey with 200 merchants across the 9 districts of the island of Mauritius. As far as the perception of merchants is concerned for plastic card acceptance, only 37% of merchants accept plastic card payments and they have highlighted such factors as ‘to increase frequency sales (21.7%)’, ‘to increase competitiveness (20.8%)’ and ‘lower risks of theft and counterfeit (19.8%)’ as the main reasons for adopting innovative payment solutions. This original research has made a valuable contribution to the body of literature as there is a lack of empirical and holistic studies towards innovative payment solutions in Mauritius. Therefore, the research has enough concrete and empirical findings that would serve as a roadmap for banking executives, credit card companies, policy makers of banking industry and merchants to better promote and sustain the adoption of plastic cards by devising appealing marketing strategies in Post Covid19. The research will also provide merchants with insightful ideas to promote the adoption of plastic cards among customers as merchants are in direct touch with customers in the retail outlets of Mauritius. -
Philippe EE Financing
THE EXPERIENCE OF PROPARCO IN BANGLADESH CLEAN ENERGY EFFICIENCY FINANCING ENERGY SUMMIT 2019 SUNDAY MARCH 10TH 2019 #EntreprendreEnCommun #BusinessInCommon PROPARCO SNAPSHOT PROPARCO AT A GLANCE THE FRENCH DFI SERVING THE PRIVATE SECTOR AND SUSTAINABLE DEVELOPMENT A SUBSIDIARY OF THE AGENCE FRANÇAISE DE DÉVELOPPEMENT (AFD) AFD is a public financial institution implementing French government's policies, aimed at poverty alleviation and sustainable development DEVOTED TO PRIVATE SECTOR FUNDING SINCE 1977 450+ clients, not tied to French interests ACTIVE IN DEVELOPING COUNTRIES (PER OECD DEFINITION) 80+ countries of operation, 23 local currencies in the portfolio SUPPORTING SUSTAINABLE DEVELOPMENT GOALS Devoting 30% of activity to projects with climate change co-benefits In 2018 €1.6bn 103 €5.5bn 300+ in financing new executed of outstanding loans staff members transactions and equity stakes A UNIQUE MODE OF GOVERNANCE PUBLIC AND PRIVATE SHAREHOLDER BASE FROM FRANCE AND ELSEWHERE 65% Agence Française de Développement 22% • BNP Paribas French • BPCE IOM Financial • CDC Entreprises ELAN PME (Bpifrance) Organizations • Crédit Agricole SA • Société générale • Aga Khan Fund for Economic Development (AKFED) 11% • Banque marocaine du commerce extérieur (BMCE) International • Bank of Africa Group (BoA Group SA) Financial • Banque ouest-africaine de développement (BOAD) Organizations • Corporación Andina de Fomento (CAF) • Development Bank of Southern Africa (DBSA) 2% • Bolloré Africa Logistics Corporates • ENGIE • Groupe Bouygues • Saur International -
ANNUAL REPORT MAUBANK Annual Report 2019 001 Table of Contents
ANNUAL REPORT MAUBANK Annual Report 2019 001 Table of Contents 004 Corporate information 007 Chairman Statement 008 Chief Executive Statement 012 Directors’ report 021 Corporate governance report 035 Statement of compliance 037 Statement of management’s responsibility for financial reporting 038 Report from the secretary 039 Independent auditor’s report 043 Statements of financial position 045 Statements of profit or loss and other comprehensive income 047 Statements of changes in equity 049 Cash flow statements for the year ended 050 Notes to the financial statements 154 Management discussion and analysis 173 Administrative information CORPORATE INFORMATION MAUBANK 004 Annual Report 2019 Corporate Information DIRECTORS: Non-Executive Directors Appointed on Resigned on Mr Burkutoola Mahmadally (Chairman) 29 March 2019 Mr Lalloo Said (Chairman) 20 January 2016 01 October 2018 Dr Paligadu Dharamraj (was appointed Acting Chairman on 06 June 2018) 07 March 2015 06 August 2019 Mr Nicolas Jean Marie Cyril 13 March 2015 Mr Putchay Vassoo Allymootoo 20 January 2016 05 September 2019 Mr Gokhool Ashvin Jain 23 February 2016 Mr Nilamber Anoop Kumar 22 March 2016 Mr Codabux Muhammad Javed 10 March 2017 Executive Directors Mr Mungar Premchand 23 November 2018 Mr Nagarajan Sridhar 24 September 2015 21 September 2018 MAUBANK Annual Report 2019 005 KEY MANAGEMENT TEAM: Position Mr Mungar Premchand Chief Executive Officer (As from 23 November 2018) Mr Nagarajan Sridhar (As from 24 September 2015 to 21 September 2018) Chief Executive Officer Mr Vydelingum -
Annual Integrated R E P O
2019 2019 ANNUAL ANNUAL INTEGRATED INTEGRATED REPORT REPORT INTRODUCING THE GROUP.....................................................................................................................................................8 BANK OF AFRICA, more than 60 years of continuous development ................................................................................9 BANK OF AFRICA Today......................................................................................................................................................................................... 11 Shareholders ........................................................................................................................................................................................................................ 13 BANK OF AFRICA Group’s business lines............................................................................................................................................... 16 Geographical presence................................................................................................................................................................................................ 17 A pan-African vocation................................................................................................................................................................................................ 18 Intra-Group synergies for Africa’s development .................................................................................................................................. -
Business in Africa
Deal Makers Vol 8: No 4 AFRICA TRANSACTION TABLE BY COUNTRY INCLUDING ADVISORS | BUSINESS IN AFRICA from the Most institutional and private equity investors (and of course the development finance institutions) are required to ensure that the target has the ability to comply with international anti-ceorruptdion, soiciatl anod environm’ens tal laws. dIn maney casess targk ets in Africa will not have the relevant systems and controls in place to monitor effectively compliance with these legal requirements, in particular anti-corruption laws. The cost of s global M&A hit record highs in 2015, dealmaking activity in sub-Saharan Africa implementing the procedures and the ability to A remained relatively muted despite an uptick in activity towards the end of the year. monitor systems and controls should be carefully In recent years, African markets have been one of the preferred destinations for funds considered. shunning lower interest rates in the US. But all that changed with the hike in interest rates by the US Federal Reserve. In addition, geopolitical uncertainties, market and currency volatility and a slump in commodity prices have seen focus shift away from emerging markets to Advertising rates are available on request from Infrastructure and developed countries. property Vanessa Aitken +27 (0)83 775 2995 Private equity firms too have become more creative as valuations remain high. Firms have development pursued other avenues to deploy capital. Some have opted for private investment in public The magazine may be purchased on transactions form equities in lieu of large leverage buyouts. subscription. These rates are available on the backbone of Years of rapid economic growth across sub-Saharan Africa have been fuelled by hopes of the request from: [email protected] developing development of a continent less dependent on the fickle global demand for its raw resources. -
Recent Trends in Banking in Sub-Saharan Africa from Financing to Investment
Recent Trends in Banking in sub-Saharan Africa From Financing to Investment Recent Trends in Banking in sub-Saharan Africa from Financing to Investment July 2015 Lead authors Tim Bending, Economist, European Investment Bank Angus Downie, Head of Economic Research, Ecobank Thierry Giordano, Economist, CIRAD Arthur Minsat, Africa Economist, OECD Bruno Losch, Research Director, CIRAD Daniela Marchettini, Economist, International Monetary Fund, Africa Department Rodolfo Maino, Senior Economist, International Monetary Fund, Africa Department Mauro Mecagni, Assistant Director, International Monetary Fund, Africa Department Oskar Nelvin, Economist, European Investment Bank Habil Olaka, Chief Executive Officer, Bankers Association, Kenya Jared Osoro, Director, Kenya Bankers Association Centre for Research on Financial Markets and Policy Henri-Bernard Solignac-Lecomte, Head of Unit, OECD Development Centre Jean-Philippe Stijns, Senior Economist, European Investment Bank Stuart Theobald, Chairman, Intellidex Economics editor Jean-Philippe Stijns, Senior Economist, European Investment Bank Debora Revoltella, Director, Economics Department, European Investment Bank Editorial, linguistic and statistical support Paul Skinner, Senior Translator-Reviser, Deputy Head of Unit, European Investment Bank Dr. Polyxeni Kanelliadou, Assistant, European Investment Bank Magali Vetter, Administrative Assistant, European Investment Bank Jurate Cepulyte-Dubois, Project Manager, European Investment Bank Rafal Banaszek, Statistical and Reporting Analyst, European Investment Bank The articles in this document were discussed at a roundtable event hosted by the EIB’s Economics Department in Luxembourg in the context of the Africa Day hosted on 9 July 2015 by the European Investment Bank in cooperation with Luxembourg’s Presidency of the European Union. About the Economics Department of the EIB The mission of the EIB Economics Department is to provide economic analyses and studies to support the Bank in its operations and in its positioning, strategy and policy. -
The Assessment of Customer Response on Electronic
THE ASSESSMENT OF CUSTOMER RESPONSE ON ELECTRONIC BANKING SERVICES IN TANZANIA A CASE STUDY OF BANK OF AFRICA (BOA) GRACEANA PAUL MIHAMBO Master Degree in Information Technology in Project Management (IT-Project Management). 2020 THE ASSESSMENT OF CUSTOMER RESPONSE ON ELECTRONIC BANKING SERVICES IN TANZANIA A CASE STUDY OF BANK OF AFRICA (BOA) BY STUDENT NAME; GRACEANA PAUL MIHAMBO A dissertation Submitted in Partial Fulfilment of the Requirements for the Award of the Master Degree in Information Technology in Project Management (IT-Project Management). 2020 CERTIFICATION The undersigned certifies that he has read and hereby recommend for acceptance by the College of Business Education a Dissertation titled “Assessment of customer response on electronic Banking services in Tanzania, A case study of Bank of Africa” in partial fulfillment of the requirements for the award of a Master’s degree in Information Technology in Project Management (IT-Project Management) of College of Business Education. _________________________________ (Supervisor`s Name) __________________________________ (Supervisor`s Signature) Date: __________________________________ i DECLARATION AND COPYRIGHT I, Graceana P. Mihambo, declare that this dissertation/thesis is my original work and that it has not been presented and will not be presented to any other higher learning Institution for a similar or any other academic award/s. Signature ____________________ Date _____________________ © This dissertation/thesis is a copyright material protected under the Berne Convention, the Copyright and Neighbouring Rights Act of 1999, and other international and national enactments, on that behalf, on intellectual property. It may not be reproduced by any means, in full or in part, except for short extracts in fair dealing, for research or private study, critical scholarly review or discourse with an acknowledgment, without the written permission of the College of Business Education ii ACKNOWLEDGEMENTS I thank the Almighty God for granting me good health to accomplish this task. -
THE GOVERNMENT GAZETTE of MAURITIUS Published by Authority
THE GOVERNMENT GAZETTE OF MAURITIUS Published by Authority No. 41 - Port Louis : Saturday 12 May 2018 - Rs. 25.00 TABLE OF CONTENTS GENERAL NOTICES 732 — Legal Supplement 733 1 to ? Appointment 734 ) 735 1 to z Declaration of Vacancy 737 ‘ 738 — Dismissal 739 1 to 7 Notice under the Land Acquisition Act 759 J 760 — Notice under the Land Acquisition Act - Corrigendum 761 —-Notice for Public Inspection of EIA Report 762 — Invitation for Bids - Mauritius Prison Service 763 — The Professional Quantity Surveyors’ Council Act 2013 764 — Annual List for Registered Nurses and Midwives (Mauritius and Rodrigues) for the year 2018 765 — Composition of the Board of the Mauritius Society of Authors (MASA) 766 — Statutory Bodies Family Protection Fund Board 2018 767 ' to ■ Notice under the Insolvency Act 773 . 774 1 t° 7 Change of Name 775 ) 776 1 t° 7 Compilation of Register under the Representation of the People Act 796 J 797 1 t° 7 Notice under the National Transport Authority 798 ) 799 1 t° 7 Notice under the Patents, Industrial Designs & Trademarks Act 800 J LEGAL SUPPLEMENT See General Notice No. 732 1874 The Mauritius Government Gazette General Notice No. 732 of 2018 to Cabinet and Head of the Civil Service from 15 to 21 April 2018 daring the absence on LEGAL SUPPLEMENT mission overseas of Mr N.K. Ballah, GOSK, The undermentioned Government Notices are Secretary to Cabinet and Head of the Civil published in the Legal Supplement to this number Service. of the Government Gazette: 2. Mrs Nirmala BHEENICK has been assigned The Dental Council (Medical Institutions) the duties of Secretary at the Public and (Amendment No. -
Annual Report 2013 Table of Contents
GHANA Annual report 2013 Table of contents 1 Message from the CEO of BOA GROUP 2-3 Over 30 years of growth and expansion 4 Over 30 years of experience serving customers 5 The commitments of the Group 6 Banking Products & Services of BOA-GHANA 7 ActivitY REport 8-9 Comments from the Managing Director 10 Highlights 2013 11 Key figures on 31/12/2013 12-13 Corporate Social Responsibility Initiatives 14 Board of Directors & Capital 15 Report and Financial Statements 2013 16-18 Corporate Information 19-20 Report of the Directors 21-22 Independent Auditors’ Report 23 Financial Statements 2013 24 Statement of Comprehensive Income 25 Statement of Financial Position 26 Statement of Changes in Equity 27 Statement of Cash Flows 28-81 Notes to the Financial Statements © All rights reserved. Message from the CEO of BOA GROUP The BANK OF AFRICA Group’s 2013 financial year was highlighted mainly by the following five objectives: • continue its external growth, • improve its operating structure, • launch a vast plan to strengthen its risk control, • expand its sales & marketing set up, • continue to enhance its financial results. The BANK OF AFRICA Group’s development was reflected in 2013 by the opening of a subsidiary in Togo. Meanwhile, the Group’s institutionalisation continued with an expansion in its Central Departments at head office. With the same determination of more precision-based management, a major project for redefining risk management was launched in synergy with the BMCE Bank Group, our majority shareholder. In the same light, a system of environmental and social management was set up in this same area.