Thursday, November 10, 2016

Post US Election Memo

Donald J. Trump – 45th President of the United States of America

"I will be president for all Americans, and this is so important to me."

Donald Trump (in red) shocked the world and financial markets on Wednesday 09 Nov 2016 by defeating Hillary Clinton (in blue) with a score of 276 electoral votes (EVs) against 218 EVs after a bitterly contested presidential race that alternately electrified and repulsed millions of American voters

Friday, October 28, 2016

5 tips to safely login to your Internet Banking

In this digital era, online banking is one of the most convenient ways to conduct your financial transactions. However, if care is not exercised, you can easily get trapped. To avoid snares and enjoy a safe banking experience, here are 5 tips which you should keep handy.

1. Always login from the bank’s main website

The safest way to login to your Internet Banking service is to go to your banking partner’s website by typing the website URL in the address bar and click on the “login” button for internet banking from there. 
For example, you should type in your browser and from the bank’s home page, click on the “Internet Banking ” button.

           2. Avoid searching for the bank's Internet Banking link from google

Some people also like to search about the bank or the online banking site on Google and accessing the bank’s website by clicking on the corresponding link from the search results. If you can remember the website URL, it is always a better and safer practice to type the URL directly in the address bar and then login to your online banking from there.

3. Verify your URL & security cues

While logging on to your internet banking, check for 'https://' (focus being on the “s” at the end) in the URL, and ensure that it is your bank’s authentic website by looking for the closed padlock sign in the address bar. Those are simple cues that help you ensure that you are entering a secured area or zone.

4. Never send and/ or share your usernames and passwords

No bank will ever request you to send personal information over e-mail or over the phone. Never send your username, password, PIN, account information, credit card data, or any such confidential information over e-mail or over the phone. You might also receive at one point in time emails which  ask you to login to your account through a link which redirects you to a website.  This is a phishing attempt and the website is a fake one, so never trust those emails.

5. Choose an account with two-factor authentication. 

As far as possible, always try  to get a bank account that offers some form of two factor authentication. You can choose to register your mobile number for authentication by SMS and each time you log in, you will receive a text message with an authentication code which you will need to input on the website to complete your login. Additionally, the bank may also issue a security token with an ever-changing code. To log in, you enter your password and the current code displayed on the token. Whichever type of two-factor authentication your bank offers, take advantage of it and secure your confidential information as best as you can. At AfrAsia, we offer both.

Wednesday, September 21, 2016

Karen Leggett in Business Magazine: “We believe we can drive AfrAsia to double-digit growth”

In an exclusive interview, the Chief Marketing Officer and EVP, Corporate Development of National Bank of Canada (NBC), shares her views on their strategic partnership with AfrAsia. NBC, she says, can bring its expertise to AfrAsia in helping us achieve a double-digit growth.

Read the full interview of Business Mag

Watch the video interview

Wednesday, January 27, 2016

Sanjiv Bhasin in Business Magazine: Geo Political Issues Will Occupy Centre Stage and Influence Capital Flows

In an exclusive interview to Business Magazine, Sanjiv Bhasin, the newly appointed CEO of AfrAsia Bank, talked about the positioning of Mauritius as a financial centre of choice in this part of the world and the main threats to the global financial stability.

Click here to read the full interview.

Interview - Parikshat Tulsidas, Head of Business Development (Africa)

How is Mauritius positioning itself as a financial hub for Africa?

The demand for foreign currency funding in Africa is high. And Mauritius, being an international financial centre, has basically a large pool of foreign currency liquidity. We are thus in an ideal position to become the region’s financial hub. AfrAsia, and other Mauritian banks, are already acting on this by helping multinationals as well as other companies operating on the African market raise funds in foreign currencies from Mauritius. This service is not one offered only to businesses; it is also available to banks in Africa as it is even harder for them to obtain foreign currency liquidity. We can thus be the missing link. The fact that several Mauritian banks are providing this service is great for the country and will help develop the financial system in Mauritius.

What are the difficulties in the way of Mauritius becoming the region’s financial hub?

The main obstacle is connectivity. I know that the government, as well as other stakeholders, are working on this issue. It is important and we need to then market ourselves as a connecting hub for the sub-Saharan region. Out of all those investing in Africa, the investors closest to us are the ones located in Asia. We can act as a gateway between the two continents. Today everyone uses Johannesburg to connect to the rest of the continent. We can, as a country, compete for that position with the right infrastructure and investment. There are, for instance, many mining companies in Asia and Australia that do business with Africa and have mines there. We need to also attract the talent and expertise to Mauritius so that we can provide financial advisory services to the region. So instead of difficulties I would say these are opportunities to tap into for our country. 

Are there other obstacles of a cultural or political nature?

East Africa is close to us. Culturally-speaking, they are not that different from us and the countries are all connected to Mauritius in some small way. So, I do not think that focusing on East Africa - from South Africa to Ethiopia - for our development is a problem. We should however not forget about Ghana and Nigeria which are the two largest economies of West Africa. Africans are more welcoming to our people because they recognise the Mauritian success story and they view us as their own and this is a huge advantage for us.

Which promising sectors in Africa could be of interest to Mauritian investors?

Agriculture, for example, has great potential. There is demand in Africa for agricultural products. Mauritius can provide financial consulting services to the mining industry, for which there have been
a lot of initiatives already recently. There is a large pool of liquidity in Mauritius and if our banks start working together, this will unlock a huge potential that could help us become the African mining
industry’s financial centre. The other key area is import-export where Mauritius boasts a better rating than other countries in Africa. It is thus easier for Asian and European banks to accept our country risk. We can become the financial hub for business in the region.

Monday, January 4, 2016

Annual Report 2015: Insight. Innovate. Inspire

Our theme for this year’s annual report ‘insight. innovate. inspire.’ outlined how the Bank continued to build upon its ‘disruptive innovation’ philosophy while gaining experience and insight in its core markets despite facing some challenges throughout the year.

After 8 years of operations, AfrAsia Bank continues to uphold its position as a first-mover in the industry while developing strategies identifying future engines of growth, including trends in the markets it serves.

Wednesday, September 2, 2015

AfrAsia Bank New World Wealth Report - The top African cities for Millionaires

According to the latest AfrAsia Bank New World Wealth Report, there are approximately 161,000 millionaires living in Africa (as of June 2015), with combined wealth holdings of US$660 billion. Note: “Millionaires” or “HNWIs” refer to individuals with net assets of US$1
million or more.

Among major cities for millionaires, Accra is expected to be the fastest growing going forward.

Note: Table above only includes cities with 2,000 or more millionaires, so fast growing cities such as
Maputo, Lusaka, Abidjan, Dar Es Salaam and Addis Ababa are excluded.


  • “Millionaires” or “HNWIs” refer to individuals with net assets of US$1 million or more.
  • “Wealth” or “net assets” is defined as the net value of assets (assets less liabilities). It includes financial holdings, business interests and tangible assets. The only major asset we exclude from our valuation is primary residences.
  • For the purposes of this report, local millionaires include all individuals who are living or working in each country, including expats.