Jean Michel Ng Tseung: "We want to see a new cycle of growth emerge for the country"

Jean Michel Ng Tseung: "We want to see a new cycle of growth emerge for the country"
Published by defimedia on Thu, December 04, 2025 - 18:54

"My wish for the coming years is to see a new cycle of significant growth emerge, like the one we experienced in the 1990s and 2000s for a sustainable and inclusive future," stated Jean Michel Ng Tseung, CEO of the MCB Group, in the latest MCB Talk podcast titled 'Behind the Billions'.

He emphasized that public-private partnerships are essential for rejuvenating the country's economic dynamism and developing emerging opportunities. This model has notably contributed to the first wave of Independent Power Producers (IPPs) and provides the necessary impetus for deploying strategic projects related to renewable energy, the circular economy, and the country's digital infrastructure.

On climate change
"The MCB Group also capitalizes on close collaboration with other stakeholders to address national challenges, including climate change, which impacts ecosystems and thus economic activities. The impact of flash floods, drought periods, and beach erosion is significant. Despite trends we observe in other foreign financial institutions questioning their sustainable development strategies, I remain convinced of MCB's commitments. What we are doing is right and aligned with our purpose and values."

On carbon credits
"MCB has halted funding for coal projects and offsets its direct footprint through carbon credits. Additionally, it has made available a Sustainable Loan of Rs 10 billion for businesses, while in Africa, the discussion is about supporting a just transition."

On the Mauritian financial center
"Maintaining the country's and the bank's investment grade remains a crucial imperative. In the same vein, it is essential that Mauritius stays on the FATF white list. Despite headwinds such as rising taxes and declining interest rates impacting profitability, the MCB Group remains focused on its 2030 vision while continuing to actively contribute to consolidating Mauritius's position as a renowned international financial center and to the country's economic development."

On digitalization
"Digitally, Mauritius aspires to become a regional payments hub for digital assets... Technology is the nerve of the war, with a new generation increasingly turning to digital solutions, especially Juice - hence the ongoing investments to improve the mobile app."

On the current context
"The current context is filled with uncertainties – between international external factors and geopolitical tensions – but I must commend the resilience of the African continent. However, vigilance remains necessary to ensure effective risk management."