Interview with Vincent Chui, Head of Investment Banking, in Business Magazine
- How do you assess the current state of the Advisory Management Services market, and what key indicators do you use to evaluate its health?
The advisory market in Mauritius and Africa is underpinned by both structural demand and cyclical drivers. On one hand, companies continue to face challenges in accessing capital and navigating changes in regulatory environment. On the other hand, there is rising appetite for strategic advisory, especially in cross-border expansion and capital restructuring.
In assessing the health of the advisory market, one would normally monitor recent deal activity as one of the core metrics. The most direct indicator of transactional demand, the number of African M&A deals announced in 2024 and so far in 2025 shows a clear trend, one of quality over quantity. While the total number of M&A transactions decreased, the total value of transactions has increased, indicating a focus on high value, strategic investments. This has certainly been the case in key sectors, such as energy and mining, which have seen large ticket acquisitions during the year.
2. The sector has experienced shocks that have changed traditional consulting practices. What major transformations have you observed in the advisory field in recent years, and how has your company adapted?
The M&A advisory business is increasingly moving away from a purely technical driven model to one that is much more client orientated and based on the value add that one can bring to the table. Put simply, gone are the days when a corporate client would require investment bankers to only formulate views on potential acquisition targets. Nowadays, our clients expect us to have a clear understanding of their own strategy and be able to generate ideas that additive to that strategy. In Mauritius, we have seen the larger diversified conglomerates steadily building capacity in their in-house strategy and M&A teams which allows them to have a very clear idea of what would be of interest to them in terms of geographical and sector expansion. Our Investment Banking Division at Absa is positioned to not only act as transaction partners, but also to be strategic partners, guiding clients through deal origination and execution.
3. Which emerging trends are currently influencing the demand for your services, and which do you consider the most sustainable?
When I look at the demand for advisory services, I see two buckets of drivers: those that are emerging in the short term and those that are structural and sustainable. Amongst the short-term themes, post pandemic capital restructuring remains topical, with many corporates still trying to find the right balance between reducing debt, consolidating operations and having appropriate growth ambitions.
As far as sustainable trends are concerned, ESG alignment remains important, with access to capital increasingly dependent on having the right framework in place. The development of our capital markets in Mauritius is similarly of importance, with the aim of building a deeper debt and equity market. As more corporates turn to IPOs and bond issuances for capital raise, so will the demand for advisory services.
4. Many companies face recurring difficulties related to cash flow management and access to financing, which limits their growth. How do your advisory services concretely help businesses overcome these financial challenges and secure growth?
Absa Mauritius can assist clients to strengthen both sides of the balance sheet. Our Investment Banking Division, through our debt advisory offering, helps corporates right-size their debt, re-align any foreign currency borrowing mis match and free up cash flow where required. Cash flow issues are often the result of deeper strategic issues. Our role is to help clients not only raise capital but also to provide a platform that supports sustainable growth.
5. What are the main services you offer, and how have you structured them to meet your clients’ varied needs?
At Absa Mauritius, our Investment Banking Division advisory services are structured around three pillars:
I. M&A Advisory – we assist domestic and international clients on sell-side or buy-side mandates
II. Capital Markets Advisory – we assist out clients in accessing both the local debt and equity markets, providing a valuable source of capital for corporates and shareholders
III. Debt Financing and Advisory – Utilizing our balance sheet, we have the flexibility to both advise and participate in corporate debt raising and/or restructuring
By integrating these three core advisory services into our Global Markets and Transactional Banking Services offerings, we offer an end-to-end solution to our clients. This is particularly relevant when our clients require both advisory expertise but also certainty of execution for their financing needs.
6. What distinguishes your firm from other players in the sector?
Our strength lies in combining international advisory standards with a strong understanding of the Mauritian and African context. We bring the structure and bench strength of large investment banks, while having local knowledge and deep client relationships. This allows us to be tailored in our approach and consider all available options before agreeing on the best way forward with our clients.
Another factor that distinguishes Absa Mauritius from other advisors is our regional presence. We are able to, and indeed do, bring colleagues from across Africa to provide their perspectives on both sector and geography to Mauritian corporates that wish to expand regionally.
7. The reputation of a consulting firm is often built through concrete achievements and partnerships. Which recent projects, collaborations, or successes best illustrate the impact of your advisory services?
Indeed, our reputation has been built through the trust our clients place in us to deliver results on large and complex transactions. We are proud to have been Emtel Ltd’s lead transaction advisor on their IPO in 2024, a landmark listing that opened new opportunities for local investors and was awarded the Best IPO in Africa (Mid-Cap Category) by EMEA Finance. We are also proud to have been awarded the Best Investment Bank in Mauritius by Global Finance in 2025.
We are deeply grateful to our clients for the confidence they continue to show in us as we continue an approach of building long-term partnerships as opposed to one-off advisory mandates.
