Kuwaiti-Mauritanian Bank Launches Operations in Nouakchott
Mauritania’s Minister of Economic Affairs and Development, Mr. Mohamedou Ould M’Haimid, on Wednesday presided over a ceremony in Nouakchott marking the official launch of the Kuwaiti-Mauritanian Bank’s operations.
In an address delivered on the occasion, the minister said the launch reflects the growing dynamism of Mauritania’s banking sector and increasing confidence in the national economy.
He praised the level of cooperation between Mauritania and the brotherly State of Kuwait, describing the new banking institution as a bridge for attracting investment from Kuwait and other brotherly and friendly countries. He added that it would strengthen economic partnerships and open up new prospects for cooperation and investment.
For his part, President of the National Union of Mauritanian Employers, Mr. Mohamed Zeine El Abidine Cheikh Ahmed, said the launch of the bank demonstrates confidence in the national economy and highlights Mauritania’s growing attractiveness as an investment destination, thanks to its stability and ongoing economic and financial reforms.
He stressed that the private sector remains an essential partner in driving economic development, creating wealth and generating jobs. He added that it needs strong, modern financial institutions capable of meeting investors’ expectations and providing the necessary funding for productive projects.
Meanwhile, the bank’s majority shareholder, Mr. Mohamed Nasser Mohamed Sayer, said the partnership between Mauritania and the State of Kuwait is built on strong cooperation and enjoys solid support. He expressed his ambition to develop an even stronger and more prosperous partnership in the future, reaffirming the commitment to supporting initiatives that promote cooperation among institutions, major corporations, small businesses and enterprises of all sizes.
For his part, the Director General of the Kuwaiti-Mauritanian Bank, Mr. François Federes, said the bank is embarking on a new chapter in its history, built around key strategic priorities aimed at strengthening its position in the Mauritanian banking market.
He also announced that banking professionals from major financial institutions would be joining the bank’s executive management team to further enhance the expertise and capabilities of its staff on the ground.
The ceremony was attended by the Deputy Governor of the Central Bank of Mauritania, the Wali (Governor) of Nouakchott West, the District Administrator of Tevragh-Zeina, the mayor of the municipality, directors general and heads of financial institutions, representatives of the diplomatic corps, as well as senior officials and economic stakeholders.