Capitalism for everyone: The Mauritius Commercial Bank Ltd (MCB) join forces with the AFRICA CEO FORUM to rethink the role of Africa’s private sector


The Mauritius Commercial Bank Ltd (MCB)

The eighth edition of the largest international gathering of the African private sector will be held on 9 to 10 March 2019 in Abidjan, Côte d’Ivoire; With the role of capitalism sparking intense debate around the world and as the need to “do good” becomes increasingly pressing in Africa, 1,800 leading decision-makers from industry, finance and politics will come together in Abidjan to boost the impact of African companies.

Growing inequality, the advent of climate risk, technological revolutions and resurgent protectionism: at a time when these four major disruptions are turning the global private sector upside down and pointing to capitalism’s fundamental transformation worldwide, the leaders of Africa’s economy and largest companies have been slow to participate in the topical discussion surrounding “capitalism and the common good”.

Nonetheless, there is another side to the story of African business: on the continent, more than anywhere, the private sector is demonstrating that “doing business” and “doing good” can be one and the same. There, telecom providers are promoting financial inclusion, investors are developing distributed solar energy facilities, agribusiness is prioritising on-site supply and processing: such examples of “business for good” are gradually becoming commonplace in Africa.

Given this issue critical to Africa’s development and following on the AFRICA CEO FORUM 2018, which covered the impact of digital technology, and the AFRICA CEO FORUM 2019, which covered the best approach to take to ensure the success of the African Continental Free Trade Area, this new edition of the largest gathering of the African private sector is set to bring together 1,800 participants around the theme of the role major companies have in society. Should Africa’s private sector integrate strategic priorities such as the fight against growing inequality, environmental battles, job creation, youth inclusion, etc.? How can these objectives be reconciled with competitiveness challenges? What role do companies and their leaders play in view of the changes underway and are they equipped to deal with them? How can the digital tidal wave be transformed into an impact accelerator?

Convinced that the world’s major companies must – and can – bring about a paradigm shift, MCB is proud to participate in the AFRICA CEO FORUM’s initiative to create a new movement promoting common-good capitalism. Painting a new horizon for the African private sector is a strategic priority at a time when the inequality gap continues to widen, imbalances remain significant and environmental risk grows. CSR is today a major issue for African companies who are increasingly being assessed on their actions in this area. We also believe that it is a tremendous source of opportunities for Africa’s development, requiring a greater collaboration between public and private sectors. It is that dynamic that we want to significantly boost” commented Alain Law Min, CEO of MCB.

For two days, the AFRICA CEO FORUM 2020 will drive public-private dialogue forward by providing a platform where economic leaders and public-sector representatives can discuss key sectoral challenges, as well as stimulate, as it does year after year, significant transactions in favour of the regional and pan-African growth of the private sector and the development of the continent in general.

Many prominent figures have already confirmed their participation and will set the tone of the discussions and meetings: Philippe Le Houérou, CEO of IFC; Abdulsamad Rabiu, Executive Chairman of BUA Group; Alain Law Min, CEO of Mauritius Commercial Bank; Amadou Hott, Minister of Economy of Senegal; Tony Elumelu, Chairman of Heirs Holding; Mohamed Mohsen, CEO of Arab Contractors; Albert Yuma, Chairman of Gécamines; Diane Karusisi, CEO of Bank of Kigali; Jean Kacou Diagou, Chairman of NSIA; Toyin Sanni, CEO of Emerging Africa Group; Sérgio Pimenta, VP Africa and Middle-East of IFC; Richard Bielle, Chairman of the Management Board of CFAO; Mohamed El Kettani, CEO of Attijariwafa Bank; Colin Mukete, CEO of Spectrum Group; Kuseni Dlamini, Chairman of Massmart; Jean-Pierre Dalais, Group Chief Executive of Ciel Ltd; Rita Maria Zniber, CEO of Diana Holding; Manuel Mota, CEO of Mota-Engil; Anne Rigail, CEO of Air France; Austin Avuru, CEO of Seplat; Zouhair Bennani, CEO of Label’Vie; Abdoulaye Magassouba, Minister of Mines & Geology of Guinea; Sacha Poignonnec, Co-CEO and Co-Founder of Jumia; Peter Matlare, Deputy CEO of Absa Group; Peter Njonjo, CEO of Twiga Foods; Hassanein Hiridjee, CEO of Axian Group ; Karim Lofti Senhadji, CEO of OCP Africa and Alioune Ndiaye, CEO Middle-East and Africa of Orange.

Distributed by APO Group on behalf of The Mauritius Commercial Bank Ltd (MCB).

Information and registration: https://bit.ly/2JwgbSn 

The AFRICA CEO FORUM photo gallery: https://bit.ly/2LI627X

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About the AFRICA CEO FORUM:
Founded in 2012, the AFRICA CEO FORUM is an annual gathering of decision-makers from the largest African companies, as well as international investors, multinational executives, heads of state, ministers, and representatives of the main financial institutions operating on the continent.

As a platform for high-level business meetings and a place to share experiences and identify trends that affect the business world, the AFRICA CEO FORUM is committed to offering concrete and innovative solutions to help the continent and its companies move forward. Through its “Women in Business” and “Family Business” initiatives, it also aims to increase the representation of women in decision-making positions on the continent and to support the transformation of African family businesses.

Organised by Jeune Afrique Media Group, the AFRICA CEO FORUM also hosts the Women in Business Annual Leadership Meeting dedicated to women leaders, and in 2019 launched the Africa CEO Network, the most powerful and influential network of business leaders in Africa.

About  The Mauritius Commercial Bank Ltd (MCB) Group:
With its 181-year history,  The Mauritius Commercial Bank Ltd (MCB) (https://www.MCB.mu/) has evolved to an integrated bank and financial services institution, which offers tailored and innovative solutions to a diversified client base, ranging from retail to corporate and institutions. It currently ranks 1st in East Africa, 19th in Africa and 613th among the Top 1000 Banks in terms of Tier 1 capital. MCB Group is investment grade-rated by Moody’s and Fitch, and currently ranks 31st in Africa in terms of assets (Jeune Afrique Top 200 Banks, The Africa Report, September 2019) and 81st on the African continent in terms of market capitalisation (African Business Top 250 Companies, May 2019. The Group has also established a physical presence in 10 countries overseas, via its subsidiaries in Madagascar, Seychelles and Maldives, its representative offices in Johannesburg, Nairobi, Paris and Dubai, as well as its associates, Société Générale Moçambique and Banque Française Commerciale Océan Indien (BFCOI – operating in Réunion Island, Mayotte and Paris).

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