MCB Microfinance: 5 years and going strong !

Post date

Jul 15, 2021

MCB microfinance entrepreneur

15th July 2016 – 15th July 2021: It has been five years since the creation of MCB Microfinance. Its mission is to support and assist micro-entrepreneurs on a daily basis and contribute to the financial inclusion of the country. With the help of MCB Microfinance, several companies in Mauritius and Rodrigues were able to gain access to finance in order to support and develop their business.

MCB Group intends to provide entrepreneurs the necessary financial support for a more resilient and inclusive local economy, especially in the present context. Since its opening in 2016, MCB Microfinance has funded over 2,500 customers, who have received 4,175 loans amounting to Rs 865.6 million. Micro businesses account for 44% of of the sectors funded by MCB Microfinance. Other sectors such as  manufacturing, transportation and agriculture, among others, are also part of the client portfolio.  Through MCB Microfinance, micro-entrepreneurs have access to three types of loans, without guarantee, at a rate of 15% per year.
 
Strong presence in Rodrigues
 
MCB Microfinance, which is present in Rodrigues since 2017 also helped local entrepreneurs to grow. 356 loans, amounting to approximately Rs 50 million have been granted for the development of local businesses to date. Expansion of poultry houses, installations of water tanks and irrigation systems, construction of new greenhouse and renovation and supply of shops and restaurants, are amongst the projects that took place on the island, thanks to the MCB Microfinance’s contribution.
 
A key role during the Covid-19 pandemic
 
With the sanitary and economic crisis, the role of MCB Microfinance has evolved. The institution fully assumes its role of protecting and providing the best possible support to its customers, while ensuring the protection and promotion of the local economy.