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Supporting the development of BCP Bank (Mauritius) Ltd in Africa
Project
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Signature date
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Location
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Mauritius
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Financing tool
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Financing amount (Euro)
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12500000
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Financing details
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EUR 12.5m loan
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Customer
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BCP Bank (Mauritius) Ltd
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Type of customer
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Financial institution
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Country of headquarters
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Mauritius
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Project number
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PMU1044
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Environmental and social ranking
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IF-B
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco and DEG have allocated a EUR 25m loan to BCP Bank (Mauritius) Ltd to support its development in Africa under its new strategy.
Client presentation
BCP Bank (Mauritius) Ltd is the Mauritian subsidiary of one of Morocco’s leading banking players, Groupe Banque Centrale Populaire. Formerly known as Banque des Mascareignes and owned by BPCE, BCP Bank (Mauritius) Ltd was taken over by BCP Group in 2018. The Group has been engaged in an expansion in Africa since the 2010s and now has subsidiaries in some 10 countries.
Project description
The loan from Proparco and DEG (EUR 12.5m for Proparco) will support the bank’s deployment of its new pan-African strategy, in line with its integration into Morocco’s leading banking group BCP in 2018. The credit line will finance priority investments in Africa, as well as trade flows between Africa and Asia via the trade finance activity. Finally, the credit line is structured to promote investments in projects with climate co-benefits.
Project impact
This operation should create or maintain 14 jobs at BCP Bank (Mauritius) Ltd over the next 5 years and, more generally, finance large companies based in Africa operating in a wide range of sectors and countries.
The project should thereby contribute to SDG 8 “Decent work and economic growth”.