Local financial services group Bard Santner is stepping up its regional expansion ambitions, with a high-level delegation meeting Mauritius President Dharambeer Gokhool at State House in Port Louis on Wednesday to explore investment opportunities and strengthen cross-border financial partnerships.
The delegation, led by board chairperson Vinod Khooshiramsing Bussawah, included group chief executive Senziwani Sikhosana, managing director Tatenda Hungwe, executive director Lucia Chingwaru and Bard Santner Microfinance Bank managing director Ngonidzashe Chikowore.
The meeting focused on investment management, cross-border financial services and potential collaboration with Mauritian stakeholders, positioning the island nation as an important gateway for the group’s broader African expansion strategy.
Confirming the engagement through his official social media platforms, President Gokhool’s office said the discussions highlight Mauritius’ role as a strategic destination for investment into Africa.
The visit comes as Bard Santner seeks to strengthen its footprint in regional and international financial markets, leveraging Mauritius’ established financial services ecosystem to connect investors, capital and investment opportunities across the continent.
Headquartered in Harare, with offices in Johannesburg and New York, Bard Santner provides financial intermediary, asset management, corporate finance, wealth management and treasury management services.
The group has Mauritian representation on its board, including its chairperson, and views the island nation as a strategic market for expanding its financial services operations and developing partnerships with regional and international investors.
The engagement also comes at a significant time for the group following the Reserve Bank of Zimbabwe’s granting of a deposit-taking licence to Bard Santner Microfinance Bank, paving the way for the establishment of a diaspora-focused financial institution.
The bank intends to tap into the substantial remittance market generated by Zimbabweans living and working abroad, particularly in South Africa, Botswana, the United Kingdom, Australia and the United States.
Its proposed services are expected to strengthen financial connections between Zimbabwe and its diaspora while creating opportunities for cross-border transactions and investment mobilisation.
Last week, Bard Santner unveiled a 13-member board for its banking operations, bringing together professionals with experience at international institutions including HSBC, KPMG and PwC.
Beyond financial services, the group is also building a profile in major investment facilitation initiatives.
Recently, Bard Santner facilitated access for local investors to the historic US$1.6 billion initial public offering of Dangote Petroleum Refinery and Petrochemicals FZE, owned by Nigerian billionaire Aliko Dangote.
Located in Lekki, Lagos, the refinery has a re-rated nameplate capacity of 700,000 barrels per day, making it the world’s largest single-train oil refinery. Its expansion roadmap targets processing capacity of 1.4 million barrels per day by 2029.
The public offering is intended to mobilise capital towards the refinery’s expansion programme, creating opportunities for investors to participate in one of Africa’s major industrial developments.
In November last year, Bard Santner also facilitated Dangote’s investment engagement in Zimbabwe, which resulted in plans for an industrial and infrastructure complex worth more than US$1 billion.
The proposed development encompasses integrated cement manufacturing, limestone and coal mining, as well as power generation. The investment could potentially reach US$2 billion if the envisaged oil pipeline linking Namibia to Zimbabwe through Botswana becomes part of the wider development programme.
Dangote Group has operations across 16 African countries, with its proposed Zimbabwean investments expected to contribute to industrial development, infrastructure expansion and regional economic integration.
Meanwhile, Zimbabwe is pursuing ambitions to establish itself as another regional financial services destination through the proposed Victoria Falls International Financial Services Centre.
The initiative draws inspiration from Mauritius’ established international financial centre model, with Zimbabwe seeking to transform Victoria Falls into a specialised offshore economic zone capable of attracting international banking institutions, investment funds, capital markets and foreign currency transactions.
The proposed centre is expected to position the resort town as a gateway for regional and international investment, complementing its established tourism appeal.
Bard Santner’s engagement with President Gokhool therefore comes against a broader regional backdrop in which African economies are seeking to strengthen financial connectivity, attract international capital and develop investment-friendly jurisdictions.
For the Zimbabwean group, building stronger relationships with Mauritius’ financial institutions and investment stakeholders could open additional channels for capital mobilisation, asset management and cross-border business opportunities, while supporting its ambition to emerge as a regional financial services powerhouse.
