“IBL has continued its transformation over the past year, and its Corporate Centre is now positioned to provide support and advice to the Group’s entities.”
It is my privilege to report on another year of solid performance and growth for the IBL Group, only two years after the amalgamation of GML Investissement Ltée and Ireland Blyth Limited.
IBL has continued its transformation over the past year, and its Corporate Centre is now positioned to provide support and advice to the Group’s entities, in line with the strategic plan defined during the 2016-17 financial year.
Indeed, as announced in our Integrated Report last year, the Group has adopted a long-term growth strategy based on three pillars:
1. The strengthening of our “core Mauritian” activities;
2. The growth of Group entities with the competences and potential for regional expansion; and
3. The expansion of Group entities with world-class expertise and the potential for international growth.
In accordance with this strategy, the following major transactions took place this year:
• In Mauritius, IBL acquired retailer Monoprix and will shortly open a new Winner’s hypermarket in Trianon Shopping Park, thereby diversifying its client offer.
• IBL also increased its stake in BlueLife Limited, strengthening the Property Cluster with property development expertise.
• Regionally, our Nairobi office is now open, and will act as an in-house business development and investment advisor to the Group in East Africa. The aim is to identify viable business opportunities in the region and bring them to fruition. I have no doubt that the Nairobi office will be a key contributor to IBL’s regional growth in the future.
• Internationally, IBL increased its shareholding in leading hospitality operator LUX*. We have also started to implement a revised strategy for our Life Cluster, which is active in clinical research and the derma-pharmaceutical industries.
Born in 1963, Jean-Claude started his career in 1980, spending seven years as external auditor before moving to a sugar group to perform various functions within accounting and finance. He joined GML in 1997 as Finance Manager. He is currently the Group Head of Financial Services and Business Development and was also appointed Executive Director of the company in August 2018.
• Fellow of the Association of Chartered Certified Accountants
• AfrAsia Bank Limited
• AfrAsia Capital Management Ltd
• Alteo Limited
• Anahita Estates Limited
• Anahita Residences & Villas Limited
• Anglo African Investments Ltd
• Camp Investment Company Limited
• DTOS Ltd
• Knights & Johns Management Ltd
• Lux Island Resorts Ltd
• Mauritian Eagle Insurance Co Ltd
• Phoenix Beverages Limited
• Phoenix Investment Company Limited
• The Bee Equity Partners Ltd
Finance, Mergers and Acquisitions, Strategic Development.
Jan Boullé worked for The Constance Group from 1984 to 2016 and occupied various executive positions and directorships. He has a particular expertise in hospitality and real estate development.
• “Ingenieur Statisticien Economiste” France
• Sciences Économiques – Université de Laval - Canada
• Alteo Limited
• BlueLife Limited
• Lux Island Resorts Ltd
• Phoenix Beverages Limited
• Phoenix Investment Company Limited
• The Bee Equity Partners Limited
• Camp Investment Company Limited
Strategic Development, Hospitality, Real Estate Development.
Benoit Lagesse started his career with Touche Ross, before working at Canadian Pacific in London then moving to Zimbabwe to manage a farming business.
• Bachelor of Science (Computers) – Manchester University – England
• Chartered Accountant – England & Wales
• Chairman of GML Ineo Ltée
• Chairman of Mon Loisir Ltée
• Alteo Energy Ltd
• Compagnie Sucrière de Saint Antoine
Finance, Accounting, Agriculture.
Hugues Lagesse is the Head of Project and Strategic Property Development of BlueLife Limited, a real estate company that develops property in Mauritius. He has acquired considerable experience and competence in high-end residential and mixed-use real estate.
• Diploma in administration and Finance – Ecole Superieure de Gestion – Paris
• Real Estate Program – Harvard Business School – United States
• General Management Program for Mauritius and South East Africa - ESSEC
• Phoenix Beverages Limited
• Phoenix Investment Company Limited
• Camp Investment Company Limited
Real Estate, Property Development, Management.
Jean-Pierre Lagesse is a specialist in property investment, development, asset enhancement and portfolio management in London, having been a partner at 10 Ant Group since 2007, and is responsible for the purchase and redevelopment of real estate. He has more than twenty years of experience in the sector, in Europe and Africa.
• MBA - from Cramfield School of Management – UK
• None
Property Development, Real Estate.
Martine de Fleuriot heads the Commercial, Corporate and Banking department of ENSafrica (Mauritius), one of the largest law firms in Mauritius. She is an experienced barrister and is recognised as a leading lawyer by international directories such as The Global Guide of Chambers and Partners, IFLR 1000 and Legal 500.
• Diplômes d’Etudes Approfondies – Mention Droit Privé - Université de Droit, d’Economie et des Sciences Sociales – Aix Marseille III
• Barrister’s Examination – Council of Legal Education Mauritius
• None
Law, Mergers and Acquisitions, Corporate Restructuring, Banking, Security Law.
Pierre Guénant is an accomplished entrepreneur. He founded and developed the PGA Group, whose turnover is €5.2Bn and which employs about 11,000 people in France, Belgium, Holland and Poland; and is currently chairman of PGA Holding. He is also involved in the hotel industry and the wine industry as well as in investment funds. He serves as a director on the Boards of several listed companies outside of Mauritius.
• Ecole Supérieure de Commerce de Paris
• None
Entrepreneurship, Strategic Development, International Business, Management.
Thierry Lagesse is the Founder and Executive Chairman of the Palmar Group of Companies, one of the pioneers in the development of the textile industry in Mauritius. A visionary entrepreneur, he also launched a Direct To Home (DTC) satellite television company in the Indian Ocean islands.
• MaÎtrise des Sciences de Gestion – Université de Paris Dauphine
• Alteo Limited
• Lux Island Resorts Ltd
• Phoenix Beverages Limited
• Phoenix Investment Company Limited
• The United Basalts Products Ltd
• Camp Investment Company Limited
Entrepreneurship, Business Development and Finance, Strategic Development, Textile, Media.
Gilles Michel has held executive positions in major international companies and institutions like Saint Gobain Group, PSA Peugeot Citroën and Fonds Stratégique d’Investissement. He was, until 2018, Chairman and CEO of Imerys.
• Ecole Polytechnique, Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE)
• Institut d’Etudes Politiques (IEP) - Paris
• Chairman of Imerys (Paris)
• Valeo (Paris)
• Solvay (Bruxelles)
Automobile Industry, Mathematics, Strategic Development, Management.
Maxime Rey has extensive experience in the Insurance sector. He worked for Mauritius' leading insurance company Swan as CFO for more than twenty years until his retirement in 2016. Before that, he also worked in Johannesburg for Kuehne and Nagel (Pty) Ltd, the South African arm of a leading global provider of innovative and fully integrated supply chain solutions, as Group Financial Director for thirteen years.
• Qualified Accountant
• Institut d’Etudes Politiques (IEP) - Paris
• Belle Mare Holding Limited
• Lux Island Resorts Ltd
• MFD Group Limited
• Constance La Gaieté Co. Limited
• Tropical Paradise Co. Limited
• Pharmacie Nouvelle Limited
Finance, Accounting, Risk Management, Insurance.
Jason Harel is the co-founder and partner of BLC Robert & Associates, which is ranked as a top-tier business law firm by all leading legal directories. He leads their corporate and M&A practice which includes non-contentious restructuring and taxation. Jason’s practice mainly involves the real estate (including construction and hospitality) and financial services sectors (including the banking and global business sectors).
• Chartered Accountant - England & Wales
• Barrister-at-Law - England & Wales and Mauritius
• None
Corporate and Business Law, Taxation, Mergers and Acquisitions, Hospitality Sector including Real Estate, Financial Services Sector including Banking and Global Business.
Arnaud Lagesse is the Group CEO of IBL Ltd, the largest business group on the island of Mauritius. He is one of the Mauritian private sector's most prominent leaders and is known to drive the Group he leads with innovative and challenging undertakings. Two years ago, he initiated the merger of GML Investissement Ltée and Ireland Blyth Limited, creating both a successful Group and substantial shareholder value for all stakeholders since the Group’s introduction onto the local stock market.
• Breakthrough Executive Program, Egon Zehnder-Mobius - Portugal
• Advanced Management Program (AMP180) - Harvard Business School - United States
• Executive Education Program at INSEAD - France
• Master’s in Management, Université d’Aix-Marseille - France and graduated from the Institut Supérieur de Gestion de Paris.
• Fondation Joseph Lagesse
• Alteo Limited • Lux Island Resorts Ltd
• Phoenix Beverages Limited
• Phoenix Investment Company Limited • DTOS Ltd
• Knights & Johns Management Ltd
• Lux Island Resorts Ltd
• Mauritian Eagle Insurance Co Ltd
• Phoenix Beverages Limited
• Phoenix Investment Company Limited
• BlueLife Limited
• The United Basalts Products Ltd
• Non-listed Mauritian Companies
Business and Finance, Deal Structuring, Strategic Business Development.
Jean Ribet has been the CEO of the Constance Group since 2004, with overall responsibility for its agro-industrial, tourism and investment activities.
• Chartered Accountant – University of Cape Town
• Belle Mare Holdings Limited
• Constance Hotels Services Ltd
• Constance La Gaité Co. Ltd
• Hotelest Ltd
• Livestock Feed Ltd
Finance, Strategic Development.
San T. Singaravelloo has twenty years of experience across the Sub-Saharan African region, the UK and the Netherlands. She has worked for major regional and international companies including Old Mutual, Hymans Robertson Actuaries and Consultants, PwC, ABN Amro and Aon. She is currently the Head of Aon’s Africa Unit for Global Benefits.
• Fellow of the Institute and Faculty of Actuaries - UK
• Postgraduate Diploma in Actuarial Science - University of Cape Town
• Bachelor of Science Honours – Operation Research - University of Cape Town
• Bachelor of Science – Statistics and Economics - University of Cape Town
• Anglo African Investments Ltd
Pension and Insurance, Business Development, Cross-Border Projects, Corporate and Trustee Consulting, Mergers and Acquisitions.