BCP Bank (Mauritius) gets Rs1.25 Billion loan for development, ‘maintain jobs’

Proparco and DEG have allocated a EUR 25m loan (around Rs1.25 billion) to BCP Bank (Mauritius) Ltd to reportedly support its development in Africa under its new strategy. 

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.

Proparco is a subsidiary of Agence Française de Développement (AFD) focused on private sector development.

According to the transaction brief, the loan will help to finance priority investments in Africa, as well as trade flows between Africa and Asia via the trade finance activity. The credit line is also expected to be used to promote investments in projects with climate co-benefits. 

“This operation should create or maintain 14 jobs at BCP Bank (Mauritius) Ltd over the next 5 years…” it read.