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Chinese New Year 2023

By: Capgraph Capgraph | Date: January 24, 2023

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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

Bowling night

By: Capgraph Capgraph | Date: August 2, 2022

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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

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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

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