The Mauritius Commercial Bank Ltd (MCB) is adopting MITECH’s system TRAC (Trade Risk Active Control) to support a continuous and significant growth in its Commodity Trade Finance (CTF) business.
TRAC is a Trade Risk and Collateral Management system supporting Structured Trade Commodity Finance. The TRAC solution handles not only Transactional Commodity Finance but Borrowing Base structures as well.
The TRAC software will be implemented on a Cloud infrastructure, with the aim of going-live with the system before the end of the year.
Michael Cohen Dumani, MITECH’s CEO commented that “this contract is a major milestone for MITECH as we are expanding our geographical footprint to support Africa’s intense Trade Finance growth as well as implementing TRAC seamlessly on a Cloud setup” adding that “MITECH is proud to welcome yet another prestigious reference in its community of users”.
Rajeshwar Pertab, Head of Middle-Office, MCB stated: “We are delighted to be partnering with MITECH and further bolster risk and collateral management within our Commodity Trade Finance business. MITECH’s expertise and TRAC’s extensive functionalities convinced us to adopt the solution and streamline information flow between our customers, front-office and middle-Office teams”.
Pan African telecoms group Liquid Telecom, is hosting the “first of its kind” cloud conference in Mauritius on Thursday 27 June 2019.
The conference, taking place at Hilton Mauritius Resort and Spa is being organised in partnership with Microsoft to help local businesses improve their understanding and use of cloud services to improve productivity and growth, whilst reducing costs and improving efficiencies. Places are limited to one hundred attendees.
Azure Accelerator is a unique cloud learning platform that provides business and IT leaders with the opportunity to engage one-on-one with Liquid Telecom and Microsoft cloud experts. The conference takes attendees on a journey of discovery, covering topics like cloud fundamentals, digital transformation, business continuity, security and compliance and will explore the manage IT resources in the cloud.
“Our events our popular with local business and feedback is extremely positive”, said Yemurai Mombershora, Group Product Manager for Liquid Telecom based in Zimbabwe. “By having a local presence in all the markets we operate in we are able to connect personally with our customers- demystifying the cloud by unpacking complex topics into a language that they understand and appreciate.”
During the conference, LSL Digital, part of La Sentinelle Ltd, a leading Media group in Mauritius, and IOS Indian Ocean Software, a customer-specific software solutions provider will illustrate how their adoption of cloud tools and resources has vastly improved operations – providing their businesses with flexible and scalable solutions to compete more effectively.
“With the launch of the Microsoft Datacentres in South Africa in March this year, local businesses can connect and leverage world-class IT infrastructure and leading-edge technology much closer to home. What this means in business terms is a huge improvement to latency and the ability to start or accelerate their business growth on an international platform,” said Winston Ritson, Group Head of Cloud Services at Liquid Telecom.