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Welcome to Absa Bank (Mauritius) Limited
Absa Bank (Mauritius) Limited is part of Absa Group Limited, an African financial services group that aims to be the pride of the continent. Absa Group Limited is listed on the Johannesburg Stock Exchange in South Africa and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 42,000 employees.
We’re committed to finding local solutions to uniquely local challenges and everything we do is focused on adding value. To this end, we offer our clients a range of retail, business, corporate and investment, and wealth management solutions as well as ensure a positive impact in all the countries in which we operate.
We’re a truly African brand, inspired by the people we serve and determined to always be Brave, Passionate and Ready so that we can make our continent proud.
What is our purpose?
Our purpose is to bring your possibility to life. We believe in possibility, in the actions of people who always find a way to get things done.
We believe in creating opportunities for our customers to make their possibilities real and supporting them every step of the way
Our group is a future-focused organisation, driven by progress and our desire to thrive in the digital age.
How we get things done:
We are committed to being brave, passionate and ready
We aim to play a shaping role in society and be an active force for good by:
Earning trust: By acting with fairness and providing just outcomes for all stakeholders and becoming known for reliability by delivering consistently on our promises
Shaping societies: By contributing significantly to the communities in which we operate, thereby enhancing the continent’s economic growth and development
Promoting inter-generational sustainability: By being accountable for our impact on the environment and building viable communities by evolving as their needs change
Driving thought leadership: By providing insights that help the industry to develop new and innovative ways to solve society’s challenges
rewardsandaccolades
The Digital Banker, Digital CX Awards 2022
Outstanding use of Digital Channels for Improved CX
Best Digital CX – Account Opening and Customer Onboarding (WM)
The Digital Banker, Middle East and Africa Innovation Awards 2022
Best Transaction Banking Innovation Lab
Top Employer Africa award 2022
Absa has been awarded the Top Employer Africa certification from the Top Employer Institute. The Top Employers Institute is a global authority on recognising excellence in People practices, and our certification marks an important milestone in our journey to re-invigorate our People practices across the Group.
The certification is based on criteria measuring employers that provide excellent employee conditions, nurture and develop talent across all levels of the organisation, and who strive to continually optimise the employee experience and employment practices.
EMEA Finance African Banking Awards 2021
- Best Equity House in South Africa
- Best Loan House in South Africa
- Best Investment Bank in South Africa and Mauritius
- Cash Management Personnel Best Service Africa
EMEA Finance 2021
- Best Investment Bank in Mauritius
Global Finance 2021
- Best Bank in Mauritius
- Best Investment Bank in Mauritius
The Asian Banker, Middle East and Africa Transaction Finance Awards 2021
- Best Cash Management in Mauritius
The Asian Banker, Middle East and Africa Regional Awards 2021
- Best Retail Bank in Mauritius
Global Brands 2021
- Most Innovative Bank in Mauritius
- Best Digital Bank in Mauritius
The Asian Banker, Middle East and Africa Regional Awards 2020
- Best Retail Bank in Mauritius
The Asian Banker, Middle East and Africa Transaction Finance Awards 2020
- Best Trade Finance Bank in Africa
- Best Cash Management and Transaction Bank in Kenya
- Best Cash Management in Mauritius
Euromoney – Excellence in Leadership in Africa Award 2020
As a strategic first response to the outbreak of the Covid-19 pandemic, Absa was recognised for its outstanding performance during an unprecedented era of constant change and uncertainty as a result of the crisis. The award recognises the efforts that Absa made to ensure that its employees had all the tools required to work remotely and that its offices observed all health and safety protocols for on-site essential employees. It also recognises the investment Absa made in providing valuable counselling and mindfulness initiatives to preserve its customers’ physical health while simultaneously offer payment moratoriums to ease their financial hardship during this time of economic strain.
Global Finance – Best Treasury & Cash Management Bank in Mauritius – 2019
Global Finance recognised Absa Bank (Mauritius) Limited as one of the banks to feature on the list of best financial institutions around the world. The bank won the 2019 Best Treasury & Cash Management Bank in Mauritius and this is a clear indication of our unwavering commitment and ambition to grow sustainably with our capacity to innovate and adapt to the evolving needs of our customers.
Other awards (2014 - 2019)
- African Banker – Investment Bank of the Year 2019
- EMEA Finance – Best Investment Bank in Africa 2019
- The Asian Banker – Best Transaction Bank in Mauritius – 2018
- The Asian Banker – Best Cash Management Bank in Mauritius – 2018
- Global Finance – Best Bank in Mauritius – 2015
- Euromoney – Best Investment Bank in Africa – 2014
- The Banker – Best Bank in Mauritius – 2011
- EMEA Finance – Best Foreign Bank in Mauritius – 2008 - 2014
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Our Board
Iqbal Rajahbalee
Independent Chairman of the Board since 1 July 2018
Member of the Remuneration and Governance CommitteeIqbal Rajahbalee is the managing partner of BLC Robert, a leading law firm in Mauritius. He has over 30 years of practice as barrister before the Mauritius courts, and has appeared as counsel in a number of high-profile commercial litigation cases.
He also advised on diverse cross-border finance transactions, including asset financing and investment funds, both for the public and private sector. He served for more than ten years at the Attorney General's Office, Ministry of Justice, rising to the position of Assistant Solicitor General. He is regarded as the founder of the Mauritius offshore industry, and was made the first executive director of its regulatory body.
He assisted in the setting up of the Financial Services Commission of Mauritius, the regulatory authority of the non-bank financial services industry, and subsequently was made to lead the institution as chief executive. Iqbal was also a director on the governing board of the central bank. He was chairman of the Mauritius Telecom just after its privatisation. He has been a director of both local and international private and public companies. In addition, Iqbal holds a master's degree in Law from the London School of Economics, and is a member of the Middle Temple Inns of Court.
Ravin Dajee
Managing Director and Executive Director of the Board
Member of the Remuneration and Governance CommitteeAs Managing Director since 2007, Ravin has positioned the bank as one of the major players in the Mauritian banking sector. Prior to joining the organisation, he held several leadership positions, including the role of General Manager of the State Trading Corporation from 2002 to 2004 and General Manager of the Central Electricity Board from 2004 to 2006. Ravin graduated from the University of Oxford with a postgraduate diploma in Strategy and Innovation. He is an Associate of the Chartered Institute of Bankers and holds a master's degree in Finance from the University of Leicester (UK). He is also an alumnus of Harvard Business School (USA).
Franco Davis
Finance Director and Executive Director of the Board
Franco is an experienced and seasoned finance professional with more than 30 years of experience at the bank. He joined the bank in 1990 and progressively moved up the hierarchy after working in several areas namely Retail, Administration and Finance, to being appointed Finance Director for Indian Ocean in 2009. He led the finance function from a multiple geography perspective and has contributed significantly in improving the risk profile for Seychelles in a relatively short period of time. From November 2015 to December 2016, Franco was overseeing the Finance space at Absa Bank Mozambique (previously known as Barclays Bank Mozambique) while he continued to be responsible for the Mauritius finance function as CFO and accountable executive for strategic projects including improvement of the control environment, up skilling of the Finance Team as well ensuring succession in place at Financial Director level. Franco graduated with a B.Sc. (Hons) in Financial Services from the University of Manchester in October 2003 and is an Associate of the Chartered Institute of Bankers since January 2004. Since June 2019, in addition to his roles as Executive Director to the Board and Finance Director of the bank, Franco also has a coordinating role for the COO, HR, Treasury, and Legal & Corporate Secretariat functions of the bank.
Jacques Paul Rene de Chasteigner du Mee
Independent Non-executive Director of the Board since 1 January 2022
Member of the Audit Committee
Member of the Risk Management CommitteeJacques is a Chartered Accountant (ICAEW) with more than 25 years of experience. He has built his career spanning the profession and industry and gained experience in several countries. He was responsible for a large portfolio of clients comprising large local institutions and global business companies. Jacques started in 1982 at Coopers and Lybrand in the UK where he gained auditing and tax experience. In 1986, he moved to the then known as De Chazal Du Mée where he enhanced his tax experience. He was also involved in the audit of World Bank funded projects in Zaire and Rwanda. In 1990, Jacques had a brief spell at ESSO Mauritius Limited as Chief Accountant and Company Secretary. He later joined Kemp Chatteris, which was a Member Firm of Deloitte & Touche in Mauritius, as Tax Manager, a role he held for 2 years. He left the profession to join Mauritius Tuna Fishing and Canning Enterprises Ltd as Finance Manager and rose to the position of Chief Operating Officer. Thereafter, he moved to Australia where he occupied positions as Accountant and Financial Controller from 1999 to 2001. He returned to Mauritius and was appointed as Financial Controller at Ireland Blyth Limited Tourism Division. He renewed his ties with Deloitte Mauritius in 2002 as Partner in the Audit and Assurance service line. In 2012, Jacques took over the leadership of Deloitte Mauritius as Managing Partner until he retired in June 2021.
Kiran Juwaheer
Non-executive Director of the Board since 1 June 2013
Chairperson of the Remuneration and Governance CommitteeKiran is the Managing Director of Vivo Energy Botswana Proprietary Limited. Prior to that Kiran was the Business Development Manager for the Vivo Energy Group. He holds a BSc (Hons) in Mechanical Engineering from the University of Manchester, Institute of Science and Technology (UMIST). For the past 34 years Kiran has held various key positions at Shell in Mauritius, Tunisia and Kenya. After the successful transition from Shell to Vivo Energy in 2011, Kiran was appointed as managing director for Vivo Energy Mauritius Limited until 2019 further to which he became a non-executive director of such company. He has also been a member of the National Corporate Governance Committee, a former president of the Mauritius Chamber of Commerce and Industry, and a former director of the Mauritius Cargo Community Systems.
Deon Raju
Non-executive Director of the Board since 1 March 2019
Deon joined Absa Group in 2006 as Head of Portfolio Structuring and Execution. In 2014, he joined the CIB Executive committee as the CIB Treasurer. He was appointed as the Group Treasurer for Absa Group Limited in October 2016, and is holding the position of Group Chief Risk Officer since June 2021. Deon’s qualifications include a Bachelor of Commerce (Honours) degree from the University of Natal and a Higher Diploma in Accounting from the University of KwaZulu-Natal. He is a member of the South African Institute of Chartered Accountants (SAICA) and is a Chartered Financial Analyst.
Preetee Ramdin
Independent Non-executive Director of the Board since 1 July 2019
Member of the Remuneration and Governance CommitteePreetee is the chief financial officer – Group Operations of IBL Ltd since April 2018. She was a partner in Transaction Advisory Services with a Big 4 firm in Mauritius from 2008 to 2016, advising clients across a variety of sectors in Mauritius and Africa. She holds a degree in Economics from the University of Cambridge and is a member of the Institute of Chartered Accountants in England and Wales (ICAEW).
Cyril Wong Sun Thiong
Non-executive Director of the Board since 1 August 2014
Chairperson of the Audit Committee
Member of the Risk Management CommitteeCyril graduated with first-class honours in Physics from the University of Manchester and qualified as a chartered accountant with KPMG in London. Cyril was an Executive Director and Vice Chairman of the Board of the bank until 31 July 2014. Prior to that, he held a number of senior management positions in Barclays Mauritius, including Finance Director and Chief Compliance and Risk Officer. Before joining Barclays, Cyril held senior positions such as head of finance in multinational companies such as ExxonMobil and British American Tobacco.
Clairette AH-HEN
Independent Non-executive Director of the Board since 9 September 2020.
Chairperson of the Risk Management Committee and member of the Audit Committee.Clairette is a fellow of both the Institute of Chartered Accountants of England and Wales (ICAEW, UK) and the Chartered Institute of Management Accountants (CIMA, UK). She holds a BA (Hons) in Accounting and Finance and a MPhil degree.
Clairette has worked for both the public and private sectors, including regulatory agencies, academia, financial institutions and multi-national corporations, in either an executive or advisory capacity. She was an Associate Professor at the University of Mauritius and Dean of the Faculty of Law and Management. She practised as a professional accountant in Mauritius, the UK and Sub-Saharan African countries with Big 4 firms. She is an advisor to Board of private family companies and a Board member of the listed company, Vivo Energy Mauritius Ltd since 21 July 2020.
She served as member or chairperson on boards and committees both in and outside Mauritius, contributing to the development of corporate governance and financial reporting landscape and the financial services sector of Mauritius. She was tasked with the setting up of the Mauritius Financial Reporting Council and led the Council as its first Chief Executive Officer. She was also the Chief Executive of the Financial Services Commission from 2011 to 2015.
She has served as member of the Financial Stability Board (FSB) Regional Consultative Group for Sub-Saharan Africa and of the Committee 1 (Committee on Issuer Accounting, Audit and Disclosure) of International Organization of Securities Commissions (IOSCO), and Vice-president of the Committee of Insurance, Securities and Non- Banking Financial Authorities (CISNA) of Southern African Development Community (SADC).
Nafeez Mohit
Company Secretary to the Board
Nafeez is a Barrister-at-Law, qualified in Mauritius. Nafeez, who joined the bank in June 2011, was appointed as Company Secretary for the bank in April 2014. Nafeez holds an LLB (Hons) from the University of Mauritius and an LLM with specialisation in Commercial and Corporate Law from the University of London, in collaboration with University College London and Queen Mary.
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Our Executive Committee
Ravin Dajee
Managing Director
As Managing Director since 2007, Ravin has positioned the bank as one of the major players in the Mauritian banking sector. Prior to joining the organisation, he held several leadership positions, including the role of General Manager of the State Trading Corporation from 2002 to 2004 and General Manager of the Central Electricity Board from 2004 to 2006. Ravin graduated from the University of Oxford with a postgraduate diploma in Strategy and Innovation. He is an Associate of the Chartered Institute of Bankers and holds a master's degree in Finance from the University of Leicester (UK). He is also an alumnus of Harvard Business School (USA).
Franco Davis
Finance Director
Franco joined the bank in 1990. After working in several departments, namely Retail, Administration and Finance, he was appointed as Finance Director in October 2009, overseeing the Finance Departments of both Mauritius and Seychelles. Since November 2015, Franco has also been overseeing the finances of Barclays Bank Mozambique (now Absa Bank Mozambique). Franco graduated with a BSc (Hons) in Financial Services from the University of Manchester in October 2003 and is an associate of the Chartered Institute of Bankers since January 2004.
Ajay Beegun
Chief Operating Officer
Ajay began his time at Barclays Bank Mauritius in November 2008 as Head of Information Technology and was appointed Chief Operating Officer, Indian Ocean in January 2015. He heads the operations in both Mauritius and Seychelles. Ajay has been in the banking sector since 1987 and held different key roles in leading technology transformational projects. Prior to joining Barclays Mauritius, Ajay was a banking technology consultant at DCDM. He graduated with a BSc (Hons) in Business Information Technology from South Bank University, United Kingdom and holds a masters in Business Administration with specialisation in Information Management from Brunel University, United Kingdom.
Jennifer Johnson
Head of Marketing and Corporate Relations
Jennifer joined Barclays Mauritius as Head of Change in 2007. After holding the role of Head of Customer Service and three years of secondment to the Barclays Africa Regional Management, Chief Executive Office, she was appointed Head of Strategy, Marketing and Corporate Relations. Before joining Barclays, she held several senior roles in a large conglomerate, specifically in managing group change projects and developing and implementing the strategic IT plans of companies in different industries. She holds a Masters in Finance (Paris – Sorbonne), Masters in Business Administration (Massey University - New Zealand), Masters in Engineering (University of Technology - France), BSc (Hons) in Applied Science (France).
Vishal Joyram
Head of Global Markets
Vishal was appointed as Head of Global Markets in January 2015. He holds a Maîtrise d’Economie Appliquée from the University of Paris-IX Dauphine in France and has also successfully completed the Chartered Alternative Investment Analyst (CAIA) Certification, the Investment Management Certificate (IMC) from the UK Society of Investment Professionals and the ACI Dealing Certificate. Prior to joining the bank in November 2013, Vishal worked in France, the UK and Mauritius in corporate finance, investment management and advisory, stockbroking and wealth management with firms such as PricewaterhouseCoopers and the State Bank of Mauritius.
Marie-Christine Liu
Head of Retail Banking
Marie-Christine joined the bank in 2014 as Head of Customer Network and was appointed Head of Retail Banking in 2016. Over the course of her rich 30-year career, she occupied several senior roles in the banking industry. Marie-Christine holds a post-graduate diploma in Marketing from the UK Chartered Institute of Marketing.
Oumesh Mungroo
Treasurer
Oumesh currently holds the role of Treasurer for the bank since 2007 and since 2015, has been given additional treasury responsibilities to include Absa entities in Mozambique and Seychelles. Oumesh held various leadership positions in Markets and Treasury in the bank since 2002 and prior to joining, he has also worked at the central Bank of Mauritius for nearly 10 years. Oumesh graduated from the University of Oxford with an Executive MBA in 2014, holds an MSc in Applied Economics with specialisation in banking and finance from the University of Mauritius. He is a fellow member of The Chartered Association of Certified Accountants in the UK and also holds an ACI Diploma.
Marcu Landman
Head of Legal
Marcu has more than 18 years of experience as a finance lawyer. Prior to joining the organisation, Marcu was Head of Investment Banking Legal at Absa Group Limited. Over the course of his career, he also practised as a solicitor at Linklators LLP London and Arthur Cox in Dublin. Marcu is a qualified solicitor in England and Wales, and a qualified attorney in South Africa. He holds a BJuris and an LLB degree from the University of South Africa as well as a Master of Law with specialisation in Banking and Finance Law from Queen Mary, University of London.
Sunil Ramgobin
Head of Corporate and International Banking
Sunil is a seasoned banking professional with more than 25 years of experience encompassing corporate banking, investment banking, international banking, retail banking, wealth management, Islamic banking and CIB business recovery. Sunil has held key senior executive management positions in leading local, regional and international organisations, such as BNP Paribas, Standard Bank Group, Al Rajhi Banking & Investment Corporation in Saudi Arabia, State Bank of Mauritius and BPCE Group. Sunil holds a Maîtrise en Droit des Affaires with specialisation in Long Term and Short-Term Financial Management and a Licence en Droit des Affaires, both from Ecole Supérieure des Affaires of Lille II University (France).
Mark Fink
Chief Risk Officer
Mark Fink is a well-accomplished risk professional with a solid 34 years of experience in the banking sector. He joined the bank in January 2019, prior to which he held the position of Chief Risk Officer in Barclays Bank Ghana (now Absa Ghana). Over the years, he has occupied several senior management roles at Barclays Africa Group Limited (now renamed to Absa Group Limited) where he acquired extensive knowledge across Africa, Emerging Market and the UK in the risk and international business fields. Mark is a qualified Associate of the Chartered Institute of Bankers (ACIB) in the UK.
Yogen Soobarah
Head of People and Culture
Yogen began his journey with the bank in 2018 with over 25 years of experience across multiple sectors including retail trade, FMCG and telecommunications, both in Mauritius and Africa. His professional experience includes executive level management, strategic HR management, HR transformation, organisation development and employee relations. Yogen occupied several senior positions in Multinationals such as Reward Manager for Sun Saharan Africa (British American Tobacco), HR Director (Mauritius Telecoms/Orange) and HR Director (MIDC Lebanon). He is a chartered member of the CIPD (UK), holds an MSc in Human Resources Management from the University of Surrey (UK) and an Executive Education in HR Strategic Management from the Michigan Ross Business School (USA).
Sandeep Mohapatra
Head of Digital Transformation and Technology
Sandeep joined the bank in March 2019 as Head of Digital Transformation. Prior to joining the bank, he was the National Head of Sales and Strategy for B2C business for one of the leading stock broking firms in India. Over the course of his career, he held several other senior roles in the financial industry. Recognised for his strong expertise in innovation and digital transformation, Sandeep has introduced India’s first Artificial Intelligence powered chatbot on WhatsApp and has created internationally acclaimed award-winning marketing initiatives. Sandeep holds a Bachelor of Commerce from B.J.B. College, Bhubaneswar, India and an MBA from Xavier Institute of Management, Bhubaneswar.
Shaun Edmeston
Head of Customer Experience and Acting Head of Business Banking
Shaun joined the organisation as Head of Customer Experience in 2020. He has a proven track record of engaging and reinvigorating businesses in view of enhancing efficiency and driving profitability. In 2021, he was entrusted with additional responsibilities, overseeing Absa Mauritius’ Business Banking segment. Over the course of his rich 20-year career, he held several senior management roles and worked for some of South Africa’s largest companies listed on the Johannesburg Stock Exchange. Prior to joining the bank, Shaun was Head of Private Education for First National Bank, one of South Africa’s leading banks.
Yoshinee Parasuraman
Head of Compliance
Yoshinee holds 16 years of experience in the financial services industry. She joined the bank as Money Laundering Reporting Officer in 2014. Since then, she has held various key positions such as the role of Deputy Head of Compliance, before being appointed as Head of Compliance in May 2022. Yoshinee holds a BSC (Hons) in Economics from the University of Mauritius and studied Master classes with the University of Stellenbosch Business School on Strategic Thinking and Coaching in Performance. She is also a Trained Ethics Ambassador with The Ethics Institute of South Africa as well as Chairperson of the Compliance Committee of the Mauritius Bankers Association.
