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Media Release

 

MauBank awarded Best SME Banking Services Mauritius 2021 from CFI.co

Wednesday 18 November 2021

MauBank Ltd has distinguished itself again in the SME field and receives the Best SME Banking Services Mauritius Award 2021 from CFI.co.

MauBank was recognized for having adapted, shaped and restructured its operations as well as business model to ease financial burdens on SMEs throughout the COVID-19 pandemic, by offering moratoriums on capital, interest and equated monthly instalment loans. The bank is seen to always partner with SMEs, and kept support to them at core of its mission. The panel further commended the efforts made by MauBank and elaborated on the special scheme, SME LokalBoost, which is providing financial support to clients looking to start a new business or expand existing operations. SMEs can secure low interest rates and pay no processing, management, ledger or Internet banking fees for a year. The juries also highlighted that the decentralization of its SME services in all its retail outlets giving way to a one-stop-shop model, provided proximity of service and simplified the customer journey. MauBank has been portrayed as an institution that cares for, and supports local Small and Medium enterprises.

“We are proud to receive this accolade as we start witnessing signs of business revival and contemplate the future with optimism. Back in earlier days of the pandemic, the stake of SMEs was at center of our preoccupations, and recognizing the importance our local entrepreneurs play in the economy of the country, we took the bull by the horns to create the necessary support system around our clients so that they manage through the challenges posed by COVID-19 and their impact. Today this award is a recognition of the multi-pronged approach we adopted for the sector and we humbly accept it” stated Premchand Mungar, Chief Executive of MauBank.

The judging panel recognised MauBank, a repeat programme winner, as an instrumental partner of business clients and pointed out that the use of various mediums and channels, mostly digital, have been optimized to engage with SMEs to provide solutions for them to meet their business objectives. A promotional campaign through a series of traditional and digital advertisements, which the panel considers to be well thought-out and nicely executed, were devised to support those initiatives. SME success stories were shared in the campaign “Supporting Mauritian Enterprises”. The panel points to praise from entrepreneurs regarding the bank’s proximity, service suites and growth-bolstering advisory.

Read the full award announcement of CFI.co at : https://cfi.co/awards/africa/2021/maubank-best-sme-banking-services-mauritius-2021/

About CFI.co

CFI.co seeks out to individuals and organisations that promote the continuous development of emerging economies. Its Awards Programme aims to recognize top innovations and reward them while inspiring other stakeholders to improve their performance.

CFI.co (Capital Finance International) is a print journal and online resource reporting on business, economics and finance. Headquartered in London, CFI.co brings coverage and analysis on the drivers behind change. Combining the views of leading multilateral and national organisations with thought leadership from some of the world’s top minds, with a better understanding on the forces influencing and reshaping the global economy.

 

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