Port Louis
Mauritius is gaining momentum as a regional center for wealth creation, with its dollar millionaire population expected to nearly double by 2033.
By that time, Mauritius, which has reached a new milestone in its wealth profile, with a GDP of USD 15.73 billion, is expected to have 10,000-dollar millionaires.
According to the Africa Wealth Report 2025, released by Henley & Partners in collaboration with New World Wealth, the island now counts 4,800 millionaires and ranks sixth in Africa by the number of high-net-worth individuals (HNWIs).
Meanwhile Mauritius’ Bank One has been named the Best Custodian Bank in the Indian Ocean.
The financial institution has earned three international awards, affirming its strength across key banking segments.
Apart from being declared the Best Custodian Bank in the Indian Ocean by the Capital Finance International (CFI), Bank One has also been named Best SME Bank in Mauritius.
The financial institution has again been named the Best Private Bank in Mauritius by Global Finance magazine.
These accolades position Bank One as a trusted partner to a wide spectrum of clients, from small businesses powering local growth to high-net-worth individuals and institutional investors operating across complex markets.
Sunil Ramgobin, is the Chief Executive Officer of Bank One, who stated that the awards are the result of their teams’ dedication and clients’ confidence in the way the institution do business.
“We are focused on delivering banking that is intelligent, responsive and grounded in real needs. Whether supporting a business expansion, guiding families through wealth planning, or enabling cross-border investments, our ambition is to build a bank that moves with purpose and delivers value that lasts.”
Small and medium-sized enterprises contribute nearly one-third of Mauritius’ gross value added and employ close to half of the national workforce.
The Bank One’s recognition in both Small and Medium Entreprises and private banking confirms its ability to support growth across all layers of the economy, from B2B partnerships and shareholder value to individual prosperity
In the custody space, Capital Finance International (CFI), commended Bank One’s advanced infrastructure, which includes near-instant portfolio reporting, direct access to Euroclear, and dedicated support for multiple African currencies.
These capabilities enable institutional clients to settle trades efficiently across time zones and markets.
Guillaume Passebecq, the Head of Consumer Banking, Private Banking and Wealth Management, said each of these segments, SME, Private Banking and Custody, demands a distinct approach.
“What ties them together is our commitment to precision, speed and relevance.”
“In SME banking, we work closely with entrepreneurs to unlock growth. In Private Banking, we tailor solutions that evolve with our clients’ ambitions,” added Passebecq.
“And in Custody, we deliver the infrastructure and insight that institutional investors need to operate confidently across borders. These awards are signals that we are on the right path, and we intend to keep raising the bar.”
Looking ahead, Bank One is advancing its vision of a more connected banking experience through digital innovation and personalized engagement.
The opening of the Bank One Tribeca Lounge marks an important step in this direction, creating a space where clients can access services in a setting designed for collaboration and convenience.
This initiative reflects our broader ambition to integrate physical and digital touchpoints, ensuring that the future of banking remains accessible, relevant and aligned with evolving client needs.