Mauritius’ MCB Plans Entry Into Côte d’Ivoire’s Banking Market
Mauritius Commercial Bank is considering launching operations in Côte d’Ivoire. If approved, MCB would become the first Mauritian bank to enter the Ivorian banking sector. The move comes as economic ties and Mauritian investment in Côte d’Ivoire continue to grow. Mauritius Commercial Bank (MCB) is preparing to enter Côte d’Ivoire,. . .
Mauritius Commercial Bank is considering launching operations in Côte d’Ivoire. If approved, MCB would become the first Mauritian bank to enter the Ivorian banking sector. The move comes as economic ties and Mauritian investment in Côte d’Ivoire continue to grow. Mauritius Commercial Bank (MCB) is preparing to enter Côte d’Ivoire, a move that would mark a new step in the regional expansion of one of the Indian Ocean nation’s largest financial institutions. The project was presented on June 18 by Frédérique Lam, Honorary Consul of the Republic of Mauritius in Côte d’Ivoire, during a meeting with Ivorian Foreign Affairs Minister Nialé Kaba. If the plan moves forward, MCB would become the first Mauritian bank to operate in Côte d’Ivoire. The lender would enter a banking sector that, according to data from the Central Bank of West African States (BCEAO), included 33 credit institutions at the end of 2025, comprising 29 banks and four financial institutions. An Attractive Banking MarketMCB’s interest in Côte d’Ivoire comes as the country’s financial sector continues to expand. According to the BCEAO’s 2024 Financial Inclusion Report for WAEMU, published in March, Côte d’Ivoire’s strict banking penetration rate reached 33. 6% in 2024. The indicator measures the share of adults holding accounts with banks, postal financial services, national savings institutions, or the Treasury. That figure makes Côte d’Ivoire the second most banked market in the West African economic and monetary union. Growing Economic TiesThe planned expansion also comes against a backdrop of strengthening economic relations between Côte d’Ivoire and Mauritius. Mauritian investment in Côte d’Ivoire has increased significantly over the past decade. According to Nanda Narrainen, Chief Executive of the Economic Development Board of Mauritius, Mauritian investments in the country rose from about $593 million in 2012 to more than $1 billion today. Speaking at the Mauritius–Côte d’Ivoire Business Forum in Abidjan on May 21, 2026, Narrainen said more than 120 Mauritian companies now operate across several sectors of the Ivorian economy. The proposed move is also aligned with MCB’s broader growth strategy. As of December 2025, the bank already had subsidiaries in Seychelles, Madagascar, Réunion, and the Maldives. It also maintained representative offices in Nigeria, Kenya, South Africa, the United Arab Emirates, and France. Chamberline Moko