Mauritius is a country where access to loans is a difficult journey for Small and Medium Enterprises (SME) and even more complex for micro-businesses. As part of MCB Group’s pledge to foster the financial inclusion and empowerment of small entrepreneurs, MCB Microfinance Ltd was launched in July 2016 as a wholly-owned subsidiary of MCB Group Ltd, and the first microfinance institution in Mauritius. Its aim is to facilitate access to business loans for micro-enterprises and self-employed individuals. Clients have access to two types of micro-loans:

• Working capital loans to help meet working capital needs such as purchase of raw materials or stock. The repayment period for these loans ranges from six to 18 months
• Investment loans for capital spending requirements of businesses such as extensions. The repayment period ranges from 12 to 60 months

The loans provided start at Rs 15,000 and go up to Rs 800,000, and are collateral-free at a rate of 15%. Businesses need to have been active for at least one year.

MCB Microfinance prides itself on its proximity to its customers. Its Relationship Officers spend a lot of time on the field to understand the characteristics and requirements of every client so that customised solutions that suit their repayment capacities can be offered to them. The care and commitment provided by Relationship Officers to their clients are not subject to the loan volume, thus ensuring the same customer attention for every client. MCB Microfinance pays particular attention to each customer’s background and situation to avoid burdening them with over-indebtedness while providing sufficient financial literacy and client awareness.

In March 2017, MCB Microfinance extended its activities to Rodrigues with the opening of an office and the recruitment of two Relationship Officers