Looking to tap into the business potential offered by Africa, some Indian banks have expressed interest in setting shops in Mauritius.
The Indian Ocean island nation is one of the most prosperous nations in Africa and is being seen by foreign entities as a platform to push their business activities into other nations in the region. Mauritius Bankers Association's chief executive Aisha C Timol said more Indian banks have expressed interest in setting up operations in the country to tap the potential of the African continent.
However, she did not disclose any specific details.
Two Indian banks — SBI and Bank of Baroda — already have operations in the African nation. In India, State Bank of Mauritius has three branches. “There has been interest from Indian banks. We also have interests from Chinese banks," Timol said.