Bard Santner Eyes Mauritius Expansion After State House Engagement

Bard Santner Group is seeking to strengthen its presence in the regional financial services market after a high-level delegation held talks with Mauritius President Dharambeer Gokhool at State House in Port Louis on Wednesday.

The delegation was led by board chairperson Vinod Bussawah and included chief executive Senziwani Sikhosana, managing director Tatenda Hungwe, executive director Lucia Chingwaru and Ngonidzashe Chikowore, who heads Bard Santner Microfinance Bank.

The meeting provided an opportunity for the Zimbabwean financial services group to explore investment opportunities, cross-border financial services and partnerships with key stakeholders in Mauritius.

The engagement also highlighted Mauritius’ position as one of Africa’s leading international financial centres and an important gateway for investors seeking opportunities across the continent.

In a statement confirming the meeting, President Gokhool’s social media platforms said:

“President Gokhool welcomed a delegation from the Bard Santner Group, Zimbabwe, for a courtesy visit yesterday (Wednesday).

“Led by Chairman Mr Vinod Khooshiramsing Bussawah, the delegation comprised Mr Senziwani Sikhosana, Chief Executive; Mr Tatenda Hungwe, Managing Director; Ms Lucia Chingwaru, Executive Director; and Mr Ngonidzashe Chikowore, Managing Director of Bard Santner Microfinance Bank.

“Discussions explored investment management, cross-border financial services and collaboration with Mauritian stakeholders, highlighting Mauritius’ role as a strategic gateway for investment into Africa.”

Headquartered in Harare, Bard Santner also operates offices in Johannesburg and New York, offering services in financial intermediation, asset management, corporate finance, wealth management and treasury management.

The group is looking to expand its regional footprint, with Mauritius emerging as a strategic destination because of its established financial services sector and investment-friendly environment.

Its latest engagement comes as Bard Santner continues to position itself in major investment transactions across Africa.

The company recently facilitated access for Zimbabwean investors to the US$1.6 billion Initial Public Offering (IPO) for Nigeria’s Dangote Petroleum Refinery and Petrochemicals FZE.

The refinery, located in Lekki, Lagos, is owned by Nigerian billionaire Aliko Dangote and currently has a stated processing capacity of 700,000 barrels per day, with plans to increase production to 1.4 million barrels per day by 2029.

The IPO is intended to support the refinery’s expansion programme.

Bard Santner also played a role in bringing Dangote’s investment interests to Zimbabwe last November, when proposals for an industrial and infrastructure project valued at more than US$1 billion were discussed.

The proposed investment covers cement manufacturing, limestone and coal mining, as well as power generation. The overall value could potentially rise to US$2 billion if plans for an oil pipeline linking Namibia and Zimbabwe through Botswana materialise.

The group’s expansion ambitions have also extended into the banking sector after the Reserve Bank of Zimbabwe granted its microfinance business a deposit-taking licence.

Bard Santner Microfinance Bank intends to target Zimbabweans living abroad, particularly those in South Africa, Botswana, the United Kingdom, Australia and the United States, among other markets.

The diaspora market represents a major opportunity for financial institutions seeking to tap into remittances and cross-border financial transactions.

Last week, Bard Santner Bank also announced a 13-member board comprising professionals with experience at international institutions, including HSBC, KPMG and PwC.

Meanwhile, Zimbabwe is pursuing plans to establish the Victoria Falls International Financial Services Centre, drawing inspiration from Mauritius’ internationally recognised financial services model.

The initiative seeks to transform Victoria Falls into an international investment and financial services hub, attracting offshore banking, international capital, foreign currency transactions and regional business operations.

Through the proposed special economic zone, Zimbabwe hopes to position Victoria Falls as a competitive destination for international investors and strengthen its participation in global financial markets.

The Mauritius engagement therefore comes at a time when Bard Santner is pursuing regional expansion while Zimbabwe seeks to strengthen its position as an investment destination.