'AfrAsia Bank has always been a trusted financial partner for us.'

1. Tell us a bit about your company

Duo World came into existence in the mid 1980’s. At that point in time, the motorcycle after-sales services sector (repairs of motorcycles) was fragmented. It was still dominated by small scale operators (motorcycle dealers and backstreet workshops) with one or two mechanics (mostly apprentices), whose reputation were that of charging high prices for relatively meagre levels of service. That was what seeded the inception of DUO World – we launched our aftersales / workshop for repairs with the aspiration to hoist the motorcycle business and eventually become the market leader in the repairs of motorcycles, by providing a product and service of high quality. Then, over the years, as the business started flourishing, we aspired to expand into the trade of motorcycles itself and hence, incorporated Lie Man Wong Ltd in 1997, for the importation of scooters and spare parts. 

2. What was your challenge?

When we started off in the business to import scooters, our focus was to establish ourselves to be the first importer of scooters in the country – we wanted to launch Malaguti Scooters (Italian Brand) in 1997 and follow-up with the launch of PGO Scooters (Taiwanese Brand) in 1998. However, our main challenge was to secure adequate funds to be able to import these. We were still relatively small to be able to afford such a significant investment to kick-off this new arm of the business. That’s how our partnership with AfrAsia Bank started. 

3. To what extent did our trade finance offering help you overcome the challenge you encountered?

AfrAsia has played a major role in our business development and has accompanied us all along our journey. Through their trade finance offerings - import loans and letters of credit - the Bank has provided financial support to our business so as to facilitate our expansion. From launching Malaguti Scooters in 1997, PGO Scooters in 1998, Italjet Scooters (a Chinese brand bearing an Italian name) in 2014, to pioneering our own brand of scooters, ItalDUO, we have come a long way for sure owing to the support we’ve received, both financial and from an advisory perspective. Over the years, Duo World has successfully forged its way among the top three motorcycle repair workshops on the Mauritian market and today, we are also engaged in the deliveries of fast food, leading distributors and retailers of home appliances and consumer electronics in the country… AfrAsia has been key in helping us reach this standing today.

4. What can you say about your banking experience with AfrAsia?

AfrAsia Bank has always provided and continues to provide us a one-stop shop banking experience – the whole team under the leadership of Mrs. Maryline Lo, namely, Mr. Nilesh Pandoo (our Relationship Manager), Mr. Hansh Burundayal and Mr. Hans Seebuccus (Customer Services Hub) are always responsive and quick to provide holistic solutions to meet our requirements. Overall, AfrAsia Bank has always been a trusted financial partner for us.