Developed since July 2016, the microfinance services developed by MCB, the leading regional bank, just passed the symbolic one billion rupee mark on May 12.
In picture (DR): Aurélie Leclezio, CEO MCB Microfinance (inset: employees of the Rodrigues branch)
Since its opening in 2016, MCB Microfinance has financed nearly 3,000 clients, who have received 4,959 loans. Small businesses account for the lion’s share with 44% of the business sectors financed. Other sectors include manufacturing, services, transportation and agriculture.
MCB Microfinance offers three types of loans, without collateral, at a rate of 15% per annum: Micro Loan Investment ranging from Rs 15000 to Rs 800000 for the purchase of equipment/machinery, or to finance renovation projects or construction – Micro Loan Working Capital ranging from Rs 15000 to Rs 800000 for the purchase of stock or raw materials and, since October 2020, Start-Up Loan ranging from Rs 15000 to Rs 200000 for the creation of a micro-business.
Sustained presence in Rodrigues
MCB Microfinance has also been assisting entrepreneurs in Rodrigues since March 2017. As of May 12, 2022, after five years of presence in Rodrigues, 436 loans amounting to approximately Rs 63 million have been granted for the development of local businesses. Expansion of poultry houses, installation of water tanks and irrigation systems, construction of new greenhouses and renovation and supply of stores and restaurants are among the projects that have materialized in Rodrigues, thanks to the contribution of MCB Microfinance.
For Aurélie Leclezio, CEO of MCB Microfinance: “In this unstable and difficult economic context, MCB Microfinance allows small and micro entrepreneurs to develop their resilience, and in some cases, to reinvent themselves.
*approximately 21.3 M€ NDLR (1 Euro = 46.86 Mauritian Rupees as of June 1)