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Chinese New Year 2023

By: Capgraph Capgraph | Date: January 24, 2023

Categories: News event,

Chinese New Year 2023

EVENTS & NEWS Chinese New Year 2023 Welcoming the Chinese New Year of the Rabbit at our office with the traditional lion dancing, which is believed to usher in good luck and prosperity. Read More

Foundation

By: Capgraph Capgraph | Date: December 12, 2022

Categories: M&S FOUNDATION,

Foundation

No act of kindness, however small, is ever wasted. Read More

REDEFINING

By: Capgraph Capgraph | Date: August 9, 2022

Categories: slider,

REDEFINING

REDEFINING THE ART OF SERVICE Read More

INDEPENDENCE

By: Capgraph Capgraph | Date: August 9, 2022

Categories: slider,

INDEPENDENCE

INDEPENDENCE. WE CONCENTRATE ON YOUR INTERESTS Read More

RECOGNISED

By: Capgraph Capgraph | Date: August 9, 2022

Categories: slider,

RECOGNISED

RECOGNISED FOR ITS ABILITY TO THINK DIFFERENTLY Read More

Lounge

By: Capgraph Capgraph | Date: December 12, 2022

Categories: CYBERATI LOUNGE,

Lounge

The services the Lounge provides our clients is a place to hold their headquarters in Mauritius and/or having a physical office to make their base for their international business with all the facilities required.  Our clients have a one-stop-shop plug and perform service area from which to work from on arrival in our country. Read More

TURNING

By: Capgraph Capgraph | Date: August 9, 2022

Categories: slider,

TURNING

TURNING CONVICTIONS INTO REALITY THROUGH OUR STRONG ENTREPRENEURIAL VISION Read More

Global

By: Capgraph Capgraph | Date: December 12, 2022

Categories: CREDENTIA GLOBAL,

Global

The services our Global company provides are the following: Outsourcing Human Resources Management and Payroll. Consultancy. Advisory. Accounting. Compliance (Traditional & Outsourcing Services for Independent Audits and Compliance ongoing administration). Permits Application and Processing. Conciergerie Services. Read More

CAREERS

By: Capgraph Capgraph | Date: December 12, 2022

Categories: Uncategorized 2,

CAREERS

CAREERS HOW WE VALUE OUR COLLEAGUES As a multi-cultural island, with a huge diversity prevailing around us each day, at Credentia we have zero tolerance for discrimination, bigotry or hate of any kind with regards to ethnicity, religion, disability, sexual orientation and gender identity. We strongly support diversity as everyone has an opportunity to bring to the table by not only representing themselves as an individual but sharing in their cultural background and life experiences. We are committed to equal opportunity for all our fellow colleagues. Current Available Positions › Read More

OUR TALENTED TEAM

By: Capgraph Capgraph | Date: December 12, 2022

Categories: Uncategorized,

OUR TALENTED TEAM

OUR TALENTED TEAM At Credentia, we believe that human talent, expertise and experience can make a difference in the way we deliver unparalleled, exceptional and consistent service whilst propositioning a way to operate the day to day. With a high-calibre team carefully selected individuals and a solution-oriented work environment, life at Credentia thrives on a culture that supports talent, openness, ambition and coherency. Learn more › Read More

Bowling night

By: Capgraph Capgraph | Date: August 2, 2022

Categories: News event,

Bowling night

EVENTS & NEWS Team building | Bowling night Our Team at Credentia International Management Ltd (“Credentia”) held our team building event at Strick City, Bagatelle …Sharing our gallery of this amazing night with our colleagues. Previous Next Read More

Credentia & Afrexim bank / Mansa Roadshow

By: Capgraph Capgraph | Date: August 2, 2022

Categories: News event,

Credentia & Afrexim bank / Mansa Roadshow

EVENTS & NEWS Credentia & Afreximbank/Mansa Roadshow COMMUNIQUE In a fast-moving and rapid changing era where accessibility to information has become even more crucial, CREDENTIA and AFREXIMBANK/MANSA had the opportunity to conduct a roadshow in Mauritius during the week of the 22nd to the 26th of August 2022. Afreximbank is the 6th largest bank in the Pan African Region with its headquarters in Cario, Egypt and other branches in Abidjan – Côte d’Ivoire, Harare – Zimbabwe, Abuja – Nigeria, Kampala – Uganda and Yaoundé – Cameroon. Our Chief Executive Officer and Founder, Mr Sharma K. (Sanjeev) Gopaul and the Credentia Team were honored to have with us in Mauritius, Mrs Maureen Mba, Director – Head of the MANSA Digital Initiative, Head of AFREXIMBANK Delegation, Mr Pape Dieye – Mansa Business Executive and Mr Alberto Magaia, Manager Clients Relations (Southern Africa) Harare, Zimbabwe. Mansa & Snr Management Team at Credentia Papa Dieya & Mansa Team African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis.A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-).The Mauritius roadshow had for the objective to introduce some key players of the Financial Services industry and SME industry as well as other permanent Honourable persons to MANSA’S Repository platform.The platform provides access to customer Know Your Client (KYC) and Compliance Due Diligence (CDD) information. With an easy subscription, companies all around Africa and the Indian Ocean will be able to view and download statutory information from the platform in order to conduct their due diligence procedures for compliances purposes.CREDENTIA and its team have been collating information of companies such as financial institutions and corporates as well as small medium enterprises to create a large database of information accessible to all parties. Today CREDENTIA as already onboarded 5,564 Corporate Profiles and the database is fast growing each week. CREDENTIA’S team is not only looking at Mauritius but also other countries such as the Republic of Seychelles, South Africa, West Africa and other countries such as Madagascar, Les Comores Island and Ils de la Reunion.The Benefits of the MANSA Platform are:Stronger Governance which will promote a Good Governance culture, transparency and accountability by African Entities.Africa-wide Impact to promoting international trade in Africa and through lower costs of compliance for international banks and global trading entities in maintain relationships with African counterparts.Risk Management by reducing the perceived risk of trading in Africa and mitigating negative implication of current Client Due Diligence challenges and high-risk reception of Africa.Trade Promotion by having available information on counterparties will promote intra and extra-African trade and stimulate uptake of new trade avenues and payment systems such as mobile payment platforms. AndSingle Primary Source for KYC Due Diligence Information on African Entities which will reduce the need for different institutions to collect KYC documentation from the same customer multiple times, thus creating efficiencies and saving time. Visit with MCCI Dr Yousouf Ismael, Nishta Surajbali, Mansa & CIML Min of Finanace Hon. Dr Renganaden Padayachy & Maureen Mba At MCCI - Maureen Mba signing visitors book During their stay with CREDENTIA in Mauritius, the AFREXIMBANK/MANSA’s team had the opportunity to meet with various prominent parties such as the Chief Executive Office, Mr Ken Poonoosamy of The Economic Development Board (EDB) and his team Mr Vinay Guddye and Mrs Jaya Doomun-Dookun, Chief Executive, Mr Sunil Benimadhu and Head of Listing, Mr Vickram Ramful of The Stock Exchange of Mauritius (SEM), Chief Executive Officer, Mr Kevin Ramkaloan of Business Mauritius and Secretary General, Dr. Yousouf Ismaël and Economist, Mrs Nishta Surajbali of The Mauritius Chamber of Commerce & Industry (MCCI), Chief Executive Officer, Mr Suryadev Beedasy, Chief Operations Officer, Mr Jeyssen T. Kathapermal and Head of Factoring, Mrs Omeeta Neelayya, of Industrial Finance Corporation of Mauritius (IFCM).Respectfully, we, also had the opportunity to sit down with and have a conversation with  The Honourable Ma​​​h​en Kumar Seeruttun, The Minister of Financial Services & Good Governance and Dr. the Honourable Renganaden Padayachy, The Minister of Finance, Economic Planning & Development and Chief Executive of the Financial Services Commission, Mr Dhanesswurnath Vikash Thakoor and The Honourable Governor, Mr Harvesh K. Seegolam, Mrs Second Deputy Governor, Mrs Semlata Sewraj-Gopal, Mrs Marjorie Heerah-Pampusa, Mr Waësh Khodabacus and Mr Sanjay Ramnarainsing of The Bank of Mauritius about the MANSA platform and the impacts it will have across Africa with their positive support.  All the meetings thus far have been very welcoming, positive and productive.CREDENTIA and AFREXIMBANK/MANSA plan to arrange for a second roadshow in the near future to further develop synergies between the bank and the expansion of the platform and trade in the Pan African region as they was a strong emphasis made on welcoming the idea of having a representative AFREXIMBANK/MANSA office in Mauritius in the not so distant future. Visit to Business Mauritius Visit to Ministry of Financial Services & Good Governance Credentia & Afreximbank Team The services other Services of the bank that were discussed were:Pan-African Payment and Settlement System (PAPSS)Pan-African Payment and Settlement System (PAPSS), observing that the ground-breaking platform will save Africa more than US$5 billion annually in payment transaction costs, while it plays an increasingly significant role in accelerating the continent’s transactions underpinning the operationalisation of the AfCFTA.PAPSS provides the state-of-the-art financial market infrastructure connecting African markets to each other thereby enabling instant cross-border payments in respective local African currencies for cross-border trade. Afreximbank as the main Settlement Agent for PAPSS, provides settlement guarantees on the payment system and overdraft facilities to all settlement agents, in partnership with Africa’s participating Central Banks. PAPSS will effectively eliminate Africa’s financial borders, formalise and integrate Africa’s payment systems and play a major role in facilitating and accelerating the huge AfCFTA-induced growth curve in intra-African trade.”PAPSS provides the solution to the disconnected and fragmented nature of payment and settlement systems that have long impeded intra-African trade. Prior to PAPSS, over 80 per cent of African cross-border payment transactions originating from African banks had to be routed offshore for clearing and settlement using international banking relationships. That posed multiple challenges, ranging from payment delays to operational inefficiencies and compliance concerns for the disparate regional payment systems.PAPSS, which has been successfully piloted in the six countries of the West African Monetary Zone, delivers multiple advantages and efficiencies to intra-African trade payments, including:Reducing the cost, duration and time variability of cross-border payments across Africa;Decreasing the liquidity requirements of commercial banks for cross-border payments; andStrengthening oversight of cross-border payment systems by central banks.PAPSS is also set to deliver harmonisation across the continent through its comprehensive legal, regulatory and operational framework comprising standardised rules, formats and governance arrangements, harmonised Know-Your-Customer and Anti-Money Laundering procedures, payment confirmation and settlement finality. A precondition for participation in PAPSS is compliance with its set rules and standards.Trade & Project FinancingAfreximbank offers a range of financing programmes, solutions and advisory services to support the expansion, diversification, promotion and development of intra- and extra-African trade and trade development projects.Afreximbank’s trade and project financing initiatives positively impacts trade and economic development across the African continent through activities centered on the main strategic pillars of its fifth Strategic plan:Intra-African Trade, which comprises promotion of intra-African trade in manufactures and facilitation of effective participation of African entities in the continent’s extractive industries;Industrialisation and Export Development, combines Credit, Risk Bearing, Twinning and Market Access to support projects geared towards promoting non-commodity export production, especially export manufacturing and services, in line with the objectives of the Bank’s Industrialisation and Export Development Strategy. It also includes Advisory Services and Capacity Building towards establishing the appropriate enabling environment for industrialisation and export development. Trade-Enabling Infrastructure, which supports intra-African trade and industrialisation in Africa; andTrade Finance Leadership, which encompasses support to member countries adversely affected by global shocks.Export DevelopmentUnder its 5th strategic plan (2017-2021), the Bank has identified Industrialisation and Export Development (I&ED) as one of the pillars that would help to deliver on its mandate. The Export Development department therefore supports the I&ED pillar through the following mechanisms:Facilitating and financing Africa’s manufactured exports in particular for agro-processing and light manufacturing sectors;Developing and establishing Industrial Parks and Special Economic Zones across the continent;Addressing Africa’s infrastructure constraints debilitating industrialization and export development;Facilitating and enabling market access of Africa’s manufactured exports; andSupporting export of services (medical services, tourism, etc.).The Export Development department combines Credit, Risk Bearing, Twinning, Market Access to support projects geared towards promoting non-commodity export production, especially export manufacturing and services in-line with the objectives of the IEDS. It also provides Advisory Services and Capacity Building towards establishing the appropriate enabling environment for industrialization and export development on the continent.We share with you all our gallery of photos of our extraordinary week. Sanjeev Gopaul & Vinay Guddye of EDBMaureen Mba, Alberto Magaia & Jeyssen T. Kathapermall - IFCMMaureen Mba & Mins. Mahen SeeruttunVisit with Chief Executive of FSCVisit to IFCMMins. Mahen Seeruttun & Maureen Mba Should you wish to further enquire about MANSA Repository platform, please do not hesitate to contact us at contact@credentiainternational.com Read More

Business Connect

By: Capgraph Capgraph | Date: November 24, 2022

Categories: News event,

Business Connect

EVENTS & NEWS Business Connect Credentia International Management Ltd (“Credentia”) recently featured in a TV program on the local Mauritian channel, MBC. Read More

Our reputational risk is of utmost importance

By: Capgraph Capgraph | Date: November 22, 2022

Categories: Compliance,

Our reputational risk is of utmost importance

COMPLIANCE NEWS Tariq Caramtali, Compliance Expert: “Our reputational risk is of utmost importance” Head of Legal and Compliance in an Offshore Management Company and also a Certified Anti-Money Laundering Specialist (ACAMS), Tariq Caramtali states that Mauritius should be honored to be amongst the few countries which are compliant with all the 40 recommendations of the FATF. “This is definitely a boost to the financial services sector and a comfort to Investors. Mauritius has, through endless initiatives, demonstrated its commitment to combat money laundering and the financing of terrorism and proliferation. In this respect, Mauritius has ratified and acceded to numerous international conventions, protocols, and treaties to express its commitment towards complying with the FATF Recommendations. And today, those initiatives have proved rewarding. International affiliates and banking institutions worldwide would be more at ease to facilitate the flow of funds to and from Mauritius, without the need to undergo enhanced due diligence measures on our country.”He believes that Mauritius has a robust legal framework to fight against money laundering and terrorist financing and proliferation with a view to adhering to the FATF Recommendations. “It was hectic for Mauritius during the last couple of years and the only recommendation which failed the compliance test recently was Recommendation 15 ‘New Technologies’. Now, Recommendation 15 has been upgraded to “Largely Compliant” on the basis of the progress made by Mauritius in addressing the underlying deficiencies.”The Mauritius Financial Services Commission, he explains, as the designated Regulator and Supervisor for virtual asset service providers and issuers of initial token offerings, worked with the Ministry of Financial Services and Good Governance and other stakeholders to come up with the Virtual Assets and Initial Token Offerings (“VAITOS”) Act, which is the regulatory framework to strengthen the oversight and help improve transparency of virtual asset transactions.He adds that other actions taken by the FSC, include: – Issuance of Rules under the VAITOS on Capital and Other Financial Requirements, Client Disclosure, Custody of Client Assets, Cybersecurity, Publication of Advertisements, Risk Management, Statutory Returns and Travel Rule; Issuance of the AML/CFT Guidance Notes for Virtual Asset Service Providers & Issuers of Initial Token Offerings; andEnforcement actions on those who were in non-conformity with the VAITOS Act. Existing Risks Speaking about the existing risks when it comes money laundering and terrorist financing as well as corruption, the Compliance Expert utters that they are always there. “Risks will always exist, but we as the industry experts should be well versed as to how to mitigate those risks. It is to be recognized that Mauritius; even for other renown Jurisdictions, has strengths and weaknesses in its frameworks to combat money laundering and the financing of terrorism and proliferation, as well as corruption. This is why the frameworks, and its functionality should periodically be tested and assessed, with the necessary actions taken accordingly.”He trusts that it is right time that the National Risk Assessment Report be reviewed now, taking into consideration the last ESAAMLG Mutual Evaluation Report, so as to guide the implementation of our actions to strengthen our AML/CFT framework over the next three years.“Our reputational risk is of utmost importance and the industry players should all the time monitor that our system is not being abused by outlawed Clients or Investors. It is up to the Management of each Licensee to take the necessary measures to educate employees through continuous training, mostly on anti-money laundering and combatting terrorist financing and proliferation,” he declares. The role of our monitoring agencies Surely, underlines Tariq Caramtali, the Regulators play an important role in ensuring that their respective Licensees are adhering to the statutory requirements, as well as the international norms as far as Anti-Money Laundering and combatting the Financing of Terrorist activities are concerned. He is of the opinion that now that Mauritius is complying with the 40 FATF Recommendations, the trend should be maintained.“It must be understood that compliance is much more than a simple “tick box” exercise. Now, with the emergence of new technologies, compliance has taken a new step. In my humble opinion, and in the event that the monitoring agencies will not follow the global patterns, Mauritius will be back to square one. But I do appreciate that, for instance, even that we are largely compliant, the effort is still present for the Financial Services Commission as the latter is really taken up in its onsite inspection exercise to ensure that the regulatory requirements are being met by its Licensees. Ongoing workshops and trainings are also being hosted for the benefit of the financial services’ practitioners.”He avers that the compliance of Mauritius with the FATF Recommendations is testimony to Mauritius’ commitment in being a transparent jurisdiction in the global financial services landscape and reaffirms its position as a prominent investment destination. “The FSC is doing its best and will no doubt continue to protect the integrity of the virtual assets eco-system for instance, with a view to uphold the reputation of Mauritius as a robust and credible jurisdiction,” says the Compliance expert. Read More

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