Regional business group GML to extend footprint in Africa

by Trust Matsilele 0

GML is a major regional business group, heading the list of the Top 100 Mauritian companies and the third largest company in the Southwest Indian Ocean region.

The company has diverse operations in sugar, banking, hospitality and sea food activities.

“We are going to focus on the knowhow we have developed here in Mauritius and we will use this country as our home base,” Arnaud Lagesse, the company’s chief executive officer told CNBC Africa.

(WATCH VIDEO: Ernst & Young master entrepreneur finalist- Arnaud Lagesse)

The company was recently recognised by the World Economic Forum (WEF) as one of the global growth companies.

Lagesse said that the recognition will help the group in clinching joint ventures in Africa.

“The recognition by the WEF is a great price for us and 13 000 employees of the group as it puts the company in the forefront of the fastest growing companies in Africa,” he said.

The company recently bought Zimbabwe’s Kingdom Bank saying even though there were some challenges, the group was positive about the future prospects in that country.

“We believe Zimbabwe is going to strive in the future so we thought of getting there a bit earlier especially factoring that the economy is stabilising and that it is on the rise.”

“We are also looking at some opportunities in east Africa and we have signed management contracts in the hospitality sector of the United Arab Emirates.”

The company has a presence in Africa’s second largest economy, South Africa, where it is operating a corporate finance house and said the company would look at some possible opportunities in Nigeria.