🇲🇺MauritiusEast Africa
MCB increases sustainable finance commitment to Rs 25 billion
via Le Mauricien4 min read
MCB has significantly increased its dedicated sustainable finance envelope from Rs 10 billion to Rs 25 billion, reinforcing its commitment to fostering a more resilient, inclusive, and low-carbon economy. This expansion is part of the Group's ESG strategy, aiming to support clients in projects with positive environmental and social impacts. MCB offers a range of sustainable finance solutions, including Green Loans for individuals, the Lokal is Beautiful Scheme for Small and Medium Enterprises, Sustainable Loans, Green Leases, Sustainability-Linked Loans, advice on sustainable bond issuance, and Sustainable Trade Finance Solutions. To ensure consistency and transparency, MCB established a Sustainable Finance Framework in 2024, which outlines eligibility criteria, evaluation processes, and monitoring mechanisms for its sustainable financing activities. Since the launch of this financing line in 2023, nearly Rs 10 billion has been disbursed, contributing to tangible benefits such as avoiding approximately 34,000 tons of CO2 emissions and installing 21.1 MW of renewable energy capacity. Projects supported span green buildings, renewable energy, energy efficiency, water and wastewater management, circular economy, climate change mitigation and adaptation, and social initiatives like healthcare access and cultural heritage preservation. Aldo Sydonie, Head of Mauritian and Regional Corporates, MCB, stated that sustainable finance is a necessity, reflecting growing demand from busine
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Le Mauricien.
Mauritius is forecast to experience below-normal rainfall from July to September 2026, according to the Mauritius Meteorological Services. This projection is attributed to the progressive strengthening of the El Niño phenomenon in the tropical Pacific Ocean. The latest report from the Climate Prediction Centre of the National Oceanic and Atmospheric Administration NOAA, dated June 22, 2026, indicates that El Niño conditions are intensifying. Sea surface temperature anomalies in the Niño 3.4 region have consistently risen, from +0.48 °C between March and May 2026 to +0.94 °C in May, with the latest weekly Niño 3.4 index reaching +1.7 °C. These indicators confirm a transition to a moderate-strength El Niño episode. Consequently, the Meteorological Services anticipate rainfall totals below seasonal averages for the next three months: 90 mm in July approximately 70% of the long-term average, 86 mm in August 80% of the long-term average, and 70 mm in September 80% of the long-term average. The total accumulated rainfall for July to September is expected to be 246 mm, which is only 77% of the long-term average for this period. This trend of deficient rainfall could impact water resources and climate-dependent activities if it continues in the coming months.
During debates on the Domestic Abuse Bill, Minister Delegate for Sports Karen Foo Kune-Bacha stated that the bill represents a paradigm shift in combating domestic violence. She emphasized that the discussions are about lives, particularly those of women, children, and families affected by these tragedies. Highlighting that 90% of victims are women, she noted that while no law can prevent all femicides, this reform will allow for earlier intervention, more effective protection, and a significant reduction in the risk of violence escalating. Foo Kune-Bacha welcomed the expanded definition of domestic violence to include psychological, economic, digital, and coercive forms, and stressed the recognition of children as full victims, proposing systematic specialized psychological support for minors exposed to such violence. A key advancement of the bill, according to her, is the introduction of the Exclusion Order, which mandates that the perpetrator, not the victim, must leave the family home. The court can also require the aggressor to provide alternative housing if exclusion from the home is not possible. The Minister Delegate also praised strengthened reporting mechanisms, protection for whistleblowers, accelerated procedures, and improved monitoring of perpetrators. She concluded by stressing the need for a change in mentality, stating that domestic violence stems from stereotypes and calling for collective action, asserting that victims are owed actions, not just words.
Prime Minister Navin Ramgoolam advocated for a new generation of technology-driven industries at the official inauguration of Ava Technopole, stating that Mauritius's economic future lies in a "precision economy" capable of competing in demanding international markets. Developed by the AVA group and its subsidiary Natech Medical, this facility specializes in advanced medical device manufacturing and represents a significant step in diversifying Mauritian industry. Ramgoolam emphasized that Mauritius, despite being a small island state, can expand its industrial frontiers and overcome economic challenges through resilience and the intelligence of its youth. Ava Technopole, covering 54,000 square meters, represents a 42 million euro investment and aims to become a major center for medical production and innovation. The AVA group, through Natech Medical, has over 25 years of experience in Mauritius, producing approximately one million catheter systems annually for markets including the United States, Europe, and India. Ramgoolam highlighted the critical importance of precision and quality in the medical industry, stating that Mauritius's competitive advantage lies in its human capital, institutional stability, and rigorous production capabilities, rather than its size or natural resources. He also stressed the project's human dimension, aiming to create highly skilled jobs for young Mauritians to build their futures locally, aligning with the 2026-27 budget's focus on future sec