PM Ramgoolam and Standard Chartered Bank Discuss 3 Key Investment Areas

Standard Chartered Bank’s CEO, Bill Winters, has pledged the bank’s continued support for Mauritius’s climate finance initiatives and broader economic development. The commitment was made during a meeting with Mauritian Prime Minister Navin Ramgoolam, where discussions focused on attracting investments to high-impact economic and social projects, particularly in climate finance.

Winters, who was accompanied by Kariyuki Ngari, CEO of Standard Chartered Kenya and Africa, and Abrar Anwar, CEO of Standard Chartered Bank (Mauritius), described the talks as “very fruitful,” praising Mauritius as an “open economy with top-level talent.”

Strategic Partnership for Sustainable Growth

Winters underscored the strategic alignment between the bank’s vision and the Mauritian government’s national strategy.

“We have had a strong presence in Mauritius for more than two decades,” Winters stated. “We will continue to invest, in line with the national strategy.”

The meeting also covered international trade dynamics, investment opportunities in Mauritius, and the growing role of sustainable finance.

Winters highlighted his encouragement at seeing Mauritius prioritise climate finance, a long-standing commitment for Standard Chartered.

Bank of Mauritius Governor on Digital Transformation

Separately, during a working session with Winters, the Governor of the Bank of Mauritius, Rama Sithanen, outlined the central bank’s forward-looking roadmap for digital innovation.

The plan includes integrating artificial intelligence (AI) into risk governance and compliance, as well as establishing a banking training centre to improve staff skills.

Sithanen emphasised that the rise of technology necessitates continuous upskilling and reskilling for employees to thrive in a world dominated by AI, stating that “this training centre will encourage lifelong learning.”

The Governor also noted the rise of integrated finance, where financial services are seamlessly embedded into non-financial platforms.

He stressed the need for financial institutions to forge strategic partnerships with technology companies and adopt agile operational models to remain relevant.

Commitment to Inclusivity and Cybersecurity

Sithanen announced that the central bank’s banking supervision division is undergoing a transformation from a manual to a dynamic, tech-driven approach.

While acknowledging the unprecedented convenience of digital finance, he warned of the risk of exacerbating inequalities, stressing that digital transformation must be inclusive.

“Not everyone has access to a smartphone, a reliable internet connection, or digital literacy,” he observed.

Furthermore, Sithanen highlighted the central bank’s commitment to raising public awareness of electronic payment systems and collaborating with universities on fintech education.

He also emphasised the critical importance of cybersecurity, calling for banks to invest in robust security protocols and foster a culture of vigilance.

Concluding his remarks, Sithanen defined the central bank’s role as not just a regulator but also as a “facilitator, educator, and innovator,” with a duty to ensure that digital transformation aligns with macroeconomic stability, financial integrity, and social inclusion.

Source: Le Mauricien