The Mauritius Commercial Bank Limited
Status: Approved investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
Mauritius Commercial Bank Limited (MCB) is the largest and most established bank in Mauritius. It plays a central role in the country’s financial system and has a strong regional footprint, serving corporate and institutional clients both in Mauritius and across Sub‑Saharan Africa. MCB is a well‑governed institution with a long history, strong market credibility, and a diversified business model.
What is our funding objective?
FMO participated, together with the German Investment and Development Corporation (DEG) and Proparco, with USD 45 million as a bond anchor investor in MCB’s bond issuance of USD 400 million, listed on the London Stock Exchange under the Global Medium Term Note Programme (USD 3 billion). The proceeds of FMO’s participation will be fully dedicated to activities aligned with MCB’s Sustainable Finance Framework and with FMO’s Green Label Guidance.
Why do we fund this investment?
This anchor investment supports FMO’s strategic goal of expanding climate‑aligned and sustainable financing across Sub‑Saharan Africa by strengthening our partnership with a leading regional bank. Through the bond issuance, MCB aims to diversify its funding base and secure longer‑tenor resources to scale renewable energy and climate‑resilient projects across Africa. By acting as an anchor investor, FMO helps improve market confidence, provides support for a successful placement, and enables MCB to access international capital markets more effectively. 100% of the FMO's investment is labelled as Green as it supports activities that contribute to SDG 13, in line with the FMO's methodology to determine the green finance attribution.
What is the Environmental and Social categorization rationale?
MCB is classified as Category A (FI-A) due to exposure to sectors with potentially higher environmental and social risks. The bank operates a well-established E&S Management System aligned with European Development Finance Institutions (EDFI) requirements and has strengthened its practices through recent implementation of an Environmental and Social Action Plan supported by Proparco and DEG. MCB continues to enhance its integration of climate, gender, and biodiversity considerations in its risk management processes. Its overall approach, public commitments, and governance structures position it as a leading bank on sustainability in the region.
More investments
| Date | Total FMO financing |
|---|---|
| 3/31/2026 | USD 33.33 MLN |
- Website customer/investment
- https://mcb.mu/
- Region
- Africa
- Country
- Mauritius
- Sector
- Financial Institutions
- Publication date
- 6/12/2026
- Effective date
- 4/3/2026
- Total FMO financing
- USD 45.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A