MCB's Captain Arctic transaction earns global recognition for innovative trade finance

MCB's Trade Finance for Captain Arctic has been recognised among the Top 15 Trade Deals globally in the GTR Best Deals 2025.

The recognition highlights an innovative financing structure that enabled the construction of one of the world's most advanced expedition vessels while demonstrating how Mauritian expertise can deliver sophisticated trade finance solutions for complex international projects.

A financing structure designed around the client's needs

Captain Arctic is a next-generation polar expedition vessel built by Mauritius-based shipbuilder Chantier Naval de l'Océan Indien (CNOI). Designed to reduce emissions by up to 90%, the 70-metre vessel combines solar and wind propulsion through retractable aluminium sails fitted with photovoltaic panels, hydro-generating propeller shafts and a biomass heating system fuelled by recycled wood pellets. More than a technological achievement, it represents a new generation of sustainable maritime engineering and demonstrates Africa's growing capability to manufacture high-value, technology-driven assets.

Working closely with AU Group and Atradius, MCB designed an innovative trade finance structure combining banking and insurance solutions. Rather than relying on conventional project finance, the transaction used a series of unfunded bank and insurance guarantees, enabling the client to access more competitive financing while securing the advance payments required to procure materials and support the workforce involved in the construction of the vessel.

The solution reduced financing costs by almost 40%, demonstrating how creative structuring can unlock better outcomes for clients while supporting projects with long-term economic and environmental value.

Supporting more than a ship

The significance of Captain Arctic extends well beyond maritime innovation. It demonstrates how innovative financing can support industrial development, skilled employment and sustainable manufacturing in Africa.

The project supports skilled employment in Mauritius and Madagascar, strengthens local industrial capabilities and demonstrates that African companies can successfully compete in highly specialised international markets. It also reflects a broader shift in Africa's role within global value chains, from exporting raw materials to designing, building and financing sophisticated industrial projects.

For MCB, this transaction reflects the role the Bank increasingly plays as a structuring partner, helping clients navigate complex cross-border transactions through innovative financing solutions tailored to their needs.

Showcasing African expertise on the global stage

Being recognised among the world's leading trade finance transactions reinforces that innovation is not defined by geography.

It demonstrates that solutions structured in Mauritius, through strong collaboration with international partners and local expertise, can compete with the very best globally.

As MCB continues to expand its Corporate & Investment Banking activities across Africa, transactions such as Captain Arctic illustrate the Bank's commitment to supporting ambitious clients, enabling sustainable development and positioning Mauritius as a gateway for world-class financial solutions serving the continent.

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