Having established itself as a major player in Mauritius, top Indian bank SBI expects robust business in providing funds to Indian companies looking to use this island nation as a gateway for investments in Africa.
“For Indian companies using Mauritius as an investment gateway to Africa, we will naturally be a preferred banking partner,” SBI (Mauritius) ltd Managing Director and CEO J S Hiremath said.
SBI Mauritius is a foreign subsidiary of SBI. It began operations here as a joint venture with the country’s local banking major State Bank of Mauritius (SBM). It also bought SBM’s stake in the JV, State Bank International ltd, and also acquired another local bank, Indian Ocean International Bank ltd.