A mauritian-based Group with
a truly international footprint
A Mauritius-based diversified investment group, listed on the Stock Exchange of Mauritius, operating five business clusters spread across Mauritius, Africa & Asia.
THAN 30,000 PEOPLE
for the year ended 30 June 2016
Group Total Assets
About Us History
The Medical and Surgical Centre Limited ("MSCL") completes the acquisition of Ex-Apollo Bramwell Hospital's business operations.
The International Finance Corporation (IFC) and Proparco acquire minority shareholding in CIEL Healthcare Limited.
CIEL Healthcare Limited completes transaction of 22.81% stake in Nigeria’s leading private healthcare provider, Hygeia Nigeria Limited.
Anahita Estates Ltd (part of Alteo) sealed a partnership with renowned architects, namely Jean-Michel Wilmotte and Alistair MacBeth, to develop exclusive villas on the northern parcel of Anahita.
Tropic Knits opened a new factory in Coimbatore, India.
Amethis Finance takes 24.9% shareholding in CIEL Finance
CIEL Healthcare Limited increases its stake to 58.60% in The Medical and Surgical Centre Limited, The Company which owns Clinique Darné
CIEL Healthcare Africa takes majority stake of 90.10% in International Medical Group - Uganda
Sun Limited acquires 100% of Anahita Hotel Limited, owner of the Four Seasons Resorts Mauritius
Optimisation of CIEL’s financial resources issue of MUR 1.05BN Notes programme at an average interest rate of 5.68%
Alteo through Sucrière des Mascareignes Limited acquires 51% stake of Transmara Sugar Company Limited
Successful private placement at CIEL Level to raise EUR 50M with FFP, ND Initiative, FIMALAC, Proparco and Private Investor
CIEL takes full control of Sun Limited (formerly known as Sun Resorts Limited) through a shareholding of 59.79% in the company
Acquisition of controlling 51% stake in bank BNI Madagascar SA through investment in Indian Ocean Financial Holdings Ltd
The Kibo Fund II first closing at USD 50M
CIEL takes control of Sun Resorts Ltd (SRL) through a shareholding of 39.32% in the company.
Listing of CIEL Limited on the Official Market of the Mauritius Stock Exchange.
CIEL Textile launches factories in Bangalore, India and Bangladesh.
CIEL Investment becomes the majority shareholder in
Sun Resorts Ltd and shareholder in Fortis Clinique Darné.
Launch of The Kibo Fund LLC with a committed capital of €29m.
Official Inauguration of Anahita World Class Sanctuary (Anahita The Resort and Four Seasons Resort Mauritius at Anahita) and Inauguration of the Vallée de Ferney, ecotouristic and conservation activities.
2007 - 2008
Acquisition of First City Bank Ltd, now Bank One, in a joint venture with I&M Bank of Kenya.
Launch of CIEL Investment’s first capital raising of a total of MUR 1.2bn.
Incorporation of CIEL Capital Limited and launch of IPRO.
2005 - 2007
CIEL Textile externalises its operations in India, China and Bangladesh.
Creation of the Fondation CIEL Nouveau Regard.
Aquarelle goes into Asia through a partnership with Tessitura Monti SPA.
Launch of IRS projects in Mauritius with Anahita and the start of eco-tourism with the Domaine de l’Etoile.
Incorporation of CIEL Properties Ltd.
New structure for Group CIEL : CIEL Textile Ltd, CIEL Agro-Industry Ltd and CIEL Investment Ltd.
Acquisition of the sugar estate TPC Ltd in Tanzania, in partnership with the Groupe Quartier Français de l’Ile de la Réunion.
Factory upgrading at DRBC Factory and launch of Powerplant Consolidated Energy Ltd.
Consolidation of Floreal Knitwear's activities and launch of the Hong-Kong office.
Joint-venture with Constance La Gaité Sugar Estate.
Incorporation of Aquarelle Clothing Ltd and acquisition of Harris Wilson.
Incorporation of Cirne Financial Services Limited (now Investment Professionals Ltd) and landmark year for Floreal Knitwear as the 2nd biggest worldwide producer of Woolmark pull-overs.
Start of CIEL's international expansion with the creation of Floreal Madagascar.
Incorporation of Flagstone Property Management Limited.
1978 - 1988
Consolidation of CIEL Textile with various acquisitions.
Incorporation of CIEL Investment Limited.
Start of diversification in textile with the acquisition of Floreal Knitwear.
Acquisition of Ferney Sugar Estate and centralisation of operations in Deep River Beau Champ (DRBC).
Deep River acquires Beau Champ Sugar Estate.
Acquisition of Deep River Sugar Estate Co Ltd which produces 2,200 tons of sugar yearly.
About Us Our Philosophy
As entrepreneurs, we see and embrace opportunities. We look forward, go further, deeper and higher.
Going beyond horizons inspires our vision and actions. It’s part of who we are, on a journey that never ends.
We thrive to go beyond in everything we undertake and develop. We challenge the status quo, we don’t give up.
We constantly improve. We dare to explore and pioneer.
Strong Human Approach
Pioneers, We go Beyond
Sense of partnership
About Us Investment portfolio
for the year ended 30 June 2016
CIEL invests in five strategic sectors where the Group already enjoys a solid market position and/or because these markets are experiencing high growth rates in the region.
18% of our portfolio
Solid track record
Over 40 years of proven experience
Established global presence
Operations strategically located in Mauritius, South Asia and Madagascar offering competitive labour and a network of trade agreements (e.g. Africa Growth and Opportunity Act (AGOA)) with key markets
Vertically integrated business units
From yarn spinning to finish garments to optimise costs and ensure quality control
Geographically diversified client portfolio
Clients in both hemispheres, thus reducing seasonality effect and ensuring steady revenues streams
AGRO & PROPERTY
25% of our portfolio
Over 100 years’ experience in sugar industry
Established global presence
Partnership with Tereos, the third largest sugar group in the world, to drive international growth in African countries (e.g. Kenya and Tanzania) suffering from deficit in sugar production
Energy capacity to address energy deficit
Three renewable energy, biomass plants to export to the national grid in Mauritius and in Tanzania
Valuable land ownership
Owner of a sizeable piece of land bank in the South-East region of Mauritius (3,000 hectares directly through our subsidiary Ferney Ltd and through Alteo Ltd) with interesting property development opportunities as the Mauritian government seeks to develop smart cities
HOTELS & RESORTS
34% of our portfolio
Strong growth in home market
Mauritius is witnessing high growth rate in tourist arrivals boosted by strong growth from new markets such as Asia with the recent opening of air access
7 hotels and 2 golf courses located in prime beachfront locations in Mauritius and one iconic island hotel in the Maldives
Synergies and optimisation across portfolio
Increased synergies and revenue optimisation across all properties to support improvement of future financial performance
In-house tour operators
Revenue generation optimised through a combination of in-house tour operators and external partners
Strong regional growth perspective
Presence in the fastest growing tourism industry in the world: Africa, the Indian Ocean and Asia
16% of our portfolio
Low banking penetration rates in the region
BNI Madagascar is set to benefit from low banking penetration rates of less than 5% in Madagascar. It enjoys a market share of 22% in that same market
Bank One, is well positioned to tap on the International Banking opportunities in Africa. It also has an expanding corporate and retail presence in Mauritius
Synergies between portfolio companies
Synergies between our portfolio of companies generate additional revenues and allow all entities to share best practices, client portfolio and talent
Our partnership with Amethis Finance, a leading private equity firm investing in Africa, and multiple opportunities on the African continent with a fast expanding financial services sector offer significant growth potential
7% of our portfolio
Strong growth of healthcare market in Africa
Africa is expected to post the fastest health care spending growth globally as over half a million additional hospital beds and USD 25 to 30 billion are needed over the next decade to meet Africa’s healthcare demand
Significant opportunities for private healthcare providers
50% of Sub-Saharan Africa’s total health expenditure is geared towards private healthcare providers such as CIEL Healthcare’s network of hospitals
Strategic partners and network
CIEL Healthcare’s network of partners (Fortis Healthcare, International Finance Corporation, Proparco, IFHA-II, Swiss-Re, Kibo II) and established operations in Mauritius, Uganda and Nigeria make it an increasingly effective player in the healthcare sector in the region
About Us Key Executives
Abous Us Shared Services
CIEL Corporate Services Ltd
CIEL Corporate Services Ltd is a service company which provides a unique combination of corporate services and strategic support to the main operational clusters of CIEL. Based at the head office in Ebene, it formulates the overall strategic planning of the group and also offers several services such as :
- Strategic Opportunities, Strategic Planning & Decision-Making
- Risk Management, Financial Services, Accounting
- Business Valuations
- Corporate Finance
- Feasibility Studies
- Internal Audit
- Project Management
- Treasury Management
- Legal Support & Advice
- Corporate Affairs
- Company Secretary
- Group External and Internal Communication
- Human Resources Management
- Corporate Sustainability
- Operational Excellence
CIEL Corporate Services Ltd - Management
- Jean-Pierre DALAIS
Group Chief Executive, CIEL Limited
Jean-Pierre Dalais was appointed Group Chief Executive of CIEL in January 2017. He is also the former Chief Executive Officer of CIEL Investment Ltd. Jean-Pierre holds a key leading position within the CIEL Group, focusing on the management and development of the Group’s operations, both in Mauritius and internationally, with a close supervision of its Hotels & Resorts, Financial Services and Healthcare clusters. He graduated with an MBA from The International University of America, and previously worked at Arthur Andersen (Mauritius and France).
- Jérôme De Chasteauneuf
Group Finance Director, CIEL Limited
Jérôme de Chasteauneuf was appointed Group Finance Director of CIEL in January 2017. He joined CIEL in 1993 as Project Financier, promoted as Head of Finance of the Group in 2000 and was then Executive Director & Head of Finance of the Group. He holds a key leading position within the CIEL Group and leads the Corporate Finance and Treasury Team of CIEL. Prior to joining CIEL, Jérôme worked for PricewaterhouseCoopers (UK and Jersey), between 1989 and 1993. He holds a BSc in Economics, Accounting and Finance from London Business School and is a qualified Chartered Accountant of England and Wales.
- Hélène Echevin
Chief Officer - Operational Excellence
Hélène Echevin was appointed Chief Officer – Operational Excellence of CIEL as from March 2017. In parallel of her transversal operational role across the Group, Hélène has a more direct executive role in our Healthcare sector. Prior joining CIEL, she worked for Eclosia Group and Harel Mallac Group and counts 17 years of experience in operations & project management at both company and corporate levels. She holds an engineering degree in Food Technology from Polytech, France and completed her academic skills by an executive management program at INSEAD. Hélène was the first lady President of the Mauritius Chamber of Commerce. She is a member of the board of Maurilait LTD and MARENA.
- Christine Sauzier
Head of Legal Affairs
Christine Sauzier joined CIEL Capital Ltd in 2006 as Senior Executive Legal Affairs and was promoted Head of Legal Affairs of CIEL Limited in 2010. She is specialised in corporate and company law and has been involved in several deals, including important merger and acquisitions transactions as well as the setting up of the first private equity fund sponsored by CIEL, the Kibo Fund. Christine holds a Licence en Droit Privé from Faculté des Sciences Juridiques de Rennes, France and an LLB (Hons) from University of Mauritius. Before joining CIEL, she was practising as an Attorney-at-Law at Etude Lagesse-Sauzier in partnership with Me. Danielle Lagesse, Attorney-at-Law.
- Clothilde de Comarmond
Clothilde de Comarmond qualified as a Chartered Secretary in 1999 and started her career at CIEL in 2000. She acts as Group Company Secretary–Corporate Affairs and has under her direct responsibility the delivery of expertise corporate secretarial services to a portfolio of large listed and non-listed companies. Clothilde has significant expertise in corporate services. She is an Associate member of The Institute of Chartered Secretaries and Administrators (ICSA) of England.
- Mathieu Razé
Head of Communications
Mathieu Razé joined CIEL Corporate Services Ltd in December 2015 as Head of Communications. Prior to this, Mathieu spent 10 years in communications agencies, working in Brussels, Paris, New York and most recently Kuala Lumpur as Head of Corporate Communications for Edelman Malaysia. Mathieu holds a Master’s degree in Political Sciences from University Paris X Nanterre as well as a Bachelor degree in Legal and Economics from London Metropolitan University and University Paris V Rene Descartes.
- Amélie Audibert
Head of Human Resources
Amélie Audibert joined CIEL Corporate Services Ltd in 2008 as Communication and HR Coordinator and was appointed Manager in 2010. Prior to this, she was the HR Manager of Anahita The Resort. Before joining CIEL, Amelie was part of the HR and Communication Team of two leading local companies, Food & Allied Group and IBL Group.
Amélie holds an MSc in Social Sciences and Economics, a “DESS” in Human Resources Management from FASSE Institut Catholique, Paris and an MBA International from Dauphine Université Paris – IAE Université Paris 1 Pantheon Sorbonne.
- Sébastien Daruty
Group Financial and Corporate Manager
Sébastien Daruty joined CIEL, in March 2014, as Group Financial and Corporate Manager. Prior to joining CIEL, Sébastien has worked in London since 2005 for Jeffreys Henry, Ernst & Young and most recently for EDF Energy. He holds a BSc in Mathematics and Statistics from the University of Southampton and is a qualified Chartered Accountant of England and Wales.
- Danny Runghen
Head of Treasury – Azur Financial Services Ltd
Qualified as Chartered Certified Accountant UK in 1998, Danny Satuda Runghen joined CIEL in February 2006 as Head of the Treasury Department. Before joining the group he spent 7 years with Super Group Limited, a South African JSE Listed group of companies, as Financial Manager / Treasurer to all Mauritian based companies. He also worked for 3 years with Multiconsult Limited, an offshore management company, as Fund Administrator.