Business sectors


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.


CIEL Limited is a leading diversified investment group in Mauritius, operating five business clusters (Agro-Industry and Property, Textile, Hotels and Resorts, Financial services and Healthcare) spread across Mauritius, Africa and Asia with 33,000 employees. Since its beginnings in agriculture in 1912, the pioneering group is continuously exploring new avenues of development and international expansion.

Business Sectors Agro And Property

Deeply linked with the sugar industry since 1912, CIEL remains a key stakeholder in the agro-industry with its 20.96% shareholding in Alteo Limited, a listed company on the Official Market of the Stock Exchange of Mauritius (SEM), and has gradually diversified in the property sector.

Also part of the CIEL Agro & Property cluster is Ferney Limited, an important agricultural landowner (3,000 hectares) situated close to the airport on the South East coast of Mauritius and Ebene Skies Limited, a six level building where CIEL is headquartered.

Operating in

  • 3 countries :

    • - Mauritius
    • - Tanzania
    • - Kenya
  • 3 sugar factories

  • 3 power plants


Hectares of land located in the south east region of mauritius

Cluster's Financial Results

Revenue for the year
ended 30 June 2019 (MUR)

2018 : MUR 107M

  • Alteo Limited

    CIEL Agro & Property owns 20.96% of Alteo Limited , listed on the Official Market of the Stock Exchange of Mauritius (SEM) since July 2012. With an annual turnover of Rs 8.93 billion (approx. USD 260m), Alteo is a leading regional player in the sugar, energy and property sectors in Mauritius, Tanzania and Kenya. As the largest sugar producer in Mauritius, and with a strong presence in Africa, Alteo operates three sugar factories in Mauritius, Tanzania and Kenya.

    Alteo owns a controlling interest in TPC, the sugar factory situated in Northern Tanzania, about 50km south of Mount Kilimanjaro. Alteo also operates Transmara Sugar Company, a sugar factory located in the upper midlands of Western Kenya, almost on the equator at an altitude of between 1,800 to 2,000 m above sea level. In 2016-17, the Group produced around 292,000 tonnes of raw sugar and 101,700 tonnes of refined white sugar. Alteo plans to further expand its activities, notably in the East African region, in the aim of producing an annual 500,000 tonnes of sugar within the next few years.

    In addition to its sugar activities, ALTEO owns and operates three power plants (two in Mauritius, one in Tanzania) that are fueled by bagasse or coal that export 273 GWh to the grid annually.

    Alteo is also continuing its expansion into the luxury real estate sector through Anahita estate, more specifically with the development of Anahita's northern parcels. Moreover, the Group is now developing a strategy to capitalise upon its substantial land asset base in Mauritius through a variety of new real estate projects.


Agro and Property Ferney & Other Properties

  • Ferney Ltd, La Vallée de Ferney & Ebene Skies Limited

    CIEL Limited holds 71.06% shares of Ferney Ltd, a large agricultural land owning company (3,000 hectares). Together with the Government of Mauritius, Ferney Ltd is the main sponsor of La Vallée de Ferney, a 200 hectares nature reserve sheltering a unique biodiversity of over 100 plant species and numerous vertebrate and invertebrate species as well.

    CIEL Limited, through Ebene Skies Limited, also owns the Ebene Skies building, with a surface area of 7,800 sq.m of office space.

CIEL owns 100% of CIEL Textile Limited, CIEL Textile is a world-class global player in textile and garments operations, spanned across Mauritius, Madagascar, India and Bangladesh.

CIEL Textile has developed into a regional one-stop shop for textiles, with vertically integrated business units, from yarn spinning to finish garments. The Group positions itself as the best alternative to China with the objective to deliver unbeatable value to medium and upmarket retailers.

production units

  • Mauritius: 7
  • Madagascar: 6
  • India: 6
  • Bangladesh: 1



Garments Exported


Cluster's Financial Results

Revenue for the year
ended 30 June 2019 (MUR)

2018 : MUR 10,944M

CIEL Textile Annual report



Knitwear Cluster


Fine Knits Cluster


Woven Cluster




Business Sectors Knitwear Cluster

  • Floreal Knitwear & Ferney Spinning Mills (FSM)

    Floreal Group has more than 40 years of experience in the manufacturing of high quality sweaters and the exportation of quality and innovative knitwear to its customers worldwide. Headquartered in Mauritius, it is an international business with a vertically integrated wool spinning mill and factories in Madagascar and Bangladesh. Floreal Group is assisted by marketing and support offices in the United Kingdom, South Africa, Hong Kong and China.


    • Floreal Knitwear Ltd
    • Ferney Spinning Mills

    Workforce: 5,200

    Countries: Mauritius, Madagascar and Bangladesh

    Turnover: MUR 2.2BN for the year ended 30 June 2019

Business Sectors Fine Knits Cluster

  • Tropic Knits and CDL

    Tropic Knits Group is one of the largest Fine Knits manufacturers in the Indian Ocean. Integrated Research & Development and Product Designing have, over the years, projected Tropic Knits Group as a full solution provider to international market leaders in a variety of product segments such as T-Shirt, Polos, Sweatshirts and Joggers. Tropic Knits Group is vertically integrated with CDL Knits Ltd (“CDL Knits’’), a fine knits mill. The mill has grown in a mature and independent regional market and now sells more than 20% of its capacities independently.

    Workforce: 3,800

    Countries: Mauritius, Madagascar and India

    Turnover: MUR 2.7BN for the year ended 30 June 2019

Business Sectors Woven Cluster

  • Aquarelle Group

    Aquarelle Group is an international shirt manufacturer supplying a homogeneous upper/middle market segment through 11 production units in Mauritius, Madagascar and India. With a vertically integrated weaving mill, Aquarelle Group also offers dyeing, weaving, finishing and washing operations in-house.


    • Consolidated Fabrics Limited (CFL): specialised in manufacturing of fabrics
    • Laguna Clothing: specialised in the production of men’s shirts
    • Aquarelle Casual: specialised in the production of casual shirts

    Workforce: 11,000

    Countries: Mauritius, Madagascar and India

    Turnover: MUR 7.3BN for the year ended 30 June 2019

CIEL owns 75.1% of CIEL Finance Limited, in partnership with Amethis Finance, an investment vehicle dedicated to Africa, with a total investment capacity of USD 530M.

  • banking

  • fiduciary services and companies / funds administration

  • asset management

  • private equity

Cluster's Financial Results

Revenue for the year
ended 30 June 2019 (MUR)

2018 : MUR 2,611M



PORTFOLIO - Asset Management

PORTFOLIO - Fiduciary Services and Companies / Funds administration

PORTFOLIO - Private Equity

Business Sectors Leading International Partners




finance Bank One

  • Bank One

    CIEL, in partnership with the Kenyan banking institution I&M Bank, acquired Bank One in February 2008. Bank One provides a wide range of banking and financial products and services and caters for both domestic and international markets. It offers financial solutions at private, retail and corporate levels and currently operates 13 branches throughout Mauritius.

finance BNI Madagascar

  • BNI Madagascar

    BNI is one of the largest commercial banks in Madagascar and is a major player in the corporate banking segment. With over 1000 employees, BNI runs 81 modern branches, including 27 in Antananarivo and its surroundings, and a network of more than 100 ATMs.

finance IPRO

  • IPRO

    IPRO, Investment Professionals Ltd, is a group focused on managing funds invested in Africa, India, Mauritius and Botswana. The group has been operating in Mauritius since 1992 and in Botswana since 2007.

    The four main investment funds managed by IPRO are African Market Leaders, a pan-African listed equity fund, African Absolute Return, a pan-African fixed income fund, IPRO Growth Fund and Ponelopele Fund, which have the majority of their assets invested in Mauritius and Botswana respectively. IPRO cumulates significant regional investment experience and provides its clients with investment solutions in:

    • Africa fund management & advisory services
    • India & Mauritius fund management
    • Portfolio Management to private clients
    • Fund administration services
    • Stockbroking

finance MITCO


    MITCO is a Trust and Corporate Services Group duly licensed by the Mauritius Financial Services Commission since 1993.

    The MITCO Group has built a reputation for providing value added services which enables their clienteles to attain their objectives. 

    Their services are tailor made for:

    • Corporates, Institutions and Funds
    • Entrepreneurs, Private clients and Family offices

    The services offered by the MITCO Group encompass advisory, structuring, set-up, administering, company secretarial, compliance, professional outsourcing and back-office.

    To achieve their goals and objectives, they have dedicated teams of professionals with extensive experience internationally, as well as a long-standing business relationship with professional partners worldwide.

    The main role of MITCO Group is to guide their clients with their projects and provide reengineered and restructuring solutions adaptable to the changing environments, determining factors and times, to suit and match each and every client’s requirements and ambition.

    The headquarter of MITCO Group is in Mauritius, with foreign offices in South Africa (Durban and Johannesburg), Côte d’Ivoire (Abidjan), Kenya (Nairobi) and Seychelles.

finance Kibo Capital Partners

  • Kibo Capital Partners

    Kibo Capital Partners is a private equity management company, domiciled in Mauritius and licensed by the FSC as CIS Manager. Kibo Capital Partners is a venture between CIEL Finance, the financial services arm of CIEL Limited and the firm’s management team. Kibo Capital Partners has currently two funds under management, The Kibo Fund LLC and The Kibo Fund II LLC, with assets totaling USD 100M. These funds target growth companies in Eastern and Southern Africa and the islands of the Indian Ocean.


    The Kibo Fund LLC

    Fund Size : EUR 29M

    Launch Date : 2008

    Stage : Fully invested

    The cornerstone investors in the Fund are CIEL, FMO and DEG. The other investors are Swan and regional investors. The fund is fully invested and has made two exits.


    The Kibo Fund II LLC

    Fund Size: USD 50M

    Launch Date: 2014

    Stage : Investment stage

    The cornerstone investors are the IFC, the AFDB and DEG. The other investors are CIEL Limited and Swan, both investors in The Kibo Fund LLC, and a number of other investors including European pension funds and family offices. The Fund has currently invested in the healthcare and logistics sector.

finance ProContact

  • ProContact

    ProContact Ltd (PCL), incorporated in 2001, merged with ProContact Execom, a subsidiary of CIEL in 2011.  ProContact aims to become one of the leading outsourcing companies in the Indian Ocean. The company is structured into several clusters: PCL Marketing, PCL Services, PCL Help Desk, PCL Etudes, PCL Back Office and PCL Finance.

Business Sectors Healthcare

CIEL Healthcare Limited (CHL) is a Mauritian registered private limited company, with its prime objective to own, operate and manage assets in the healthcare sector in Mauritius and across Sub-Saharan Africa.

International presence
in 3 countries

More than


Revenue for the year
ended 30 June 2019 (MUR)

2018 : MUR 2,264M

Business Sectors C-Care (Mauritius) Ltd

  • C-Care (Mauritius) Ltd

    CIEL owns a 87.5% stake in C-Care (Mauritius) Ltd. C-Care is committed to providing the best healthcare services in Mauritius and owns 2 hospitals, namely Clinique Darné and Wellkin Hospital. C-Care is listed on the Development and Enterprise Market (DEM) of the Stock Exchange of Mauritius, with a market capitalisation ~ USD 55M.

    Clinique Darne is one of the first yet most modern hospital in Mauritius. It operates an outpatient clinic facility in the northern region of Mauritius at La Croisette.

    Wellkin Hospitals is deeply committed to the highest standards of excellence in medical care and has a highly experienced medical team representing over 40 sub-specialties.

    In 2019, C-Care launched C-Lab, an ISO-accredited laboratory test services available across Mauritius with fully automated world-renowned equipment and in-house pathologist.

  • Hygeia

    Hygeia Nigeria Limited (Hygeia) is a healthcare group, which has been active in Nigeria for 30 years. Hygeia is the largest private healthcare provider in Nigeria and provides stress‐free access to great care through 2 distinct world-class organisations; Lagoon Hospitals and Hygeia HMO.

    Hygeia is currently involved in the management of hospitals, clinics and worksite clinics, through the Lagoon Hospitals group. Hygeia also expanded to provide health insurance, through Hygeia HMO, a wholly owned subsidiary of Hygeia Nigeria Limited. The Hygeia Community Health Care is a donor funded initiative, that aims to improve access to quality healthcare to low income groups in Nigeria. Through the Hygeia Nigeria Limited Foundation, the company also now builds capacity for the medical personnel in and beyond its provider network. Through these entities, Hygeia has been able to deliver primary, secondary and tertiary healthcare to the Nigerian population.

healthcare LIBA

  • LIBA

    Laboratoire International de Bio Analyse (LIBA) is an ISO 17025 accredited multi-disciplinary testing and research laboratory. LIBA offers high quality analysis services in the field of health security and environment, to companies in the following sectors:

    • Agro-industry
    • Textile & Industrial Production
    • Hotels/Restaurant Industry/Food Production
    • Animal Breeding & Healthcare
    • Environment/Toxicology
    • Clinical Research
    • Chemical Production & Pharmaceuticals

healthcare International Medical Group (IMG)


  • CIEL Healthcare Africa

    CIEL Healthcare Africa Limited (CHA), is the management company for all existing and potential (but not restricted to) CHL healthcare assets in Sub-Saharan Africa, in association with Fortis Healthcare (‘Fortis’). CHA also aims at prospecting new opportunities in the Indian Ocean and the African continent. 

    Share :

Business Sectors Hotels and Resorts

CIEL Hotels Resorts is CIEL’s cluster that regroups all the tourism and hospitality activities of the Group.

CIEL owns 50.10% of Sun Limited (a company listed on the Official Market of the Stock Exchange of Mauritius) and 50% of Anahita Residence & Villas Ltd.

Owned and managed
Properties in the
indian ocean

2 international
And four seasons

Sun limited listed on
the stock exchange
of mauritius

More than

5 private islands
in mauritius and

Cluster's Financial Results

Revenue for the year
ended 30 June 2019 (MUR)


2018: MUR 6,724M

Abous Us Sun Ltd

  • Sun Ltd

    CIEL owns 50.10% of Sun Ltd (SUN) which owns and operates four resorts in Mauritius (La Pirogue Resort & Spa, Sugar Beach Golf & Spa Resort, Long Beach Golf Resort & Spa and Ambre Resort & Spa) and one in Maldives (Kanuhura), all operating in the four to five star-segments. 

    In June 2014, SUN, also owner of Le Touessrok, signed a management contract with Shangri-La Hotels and Resorts for the management of the property. After an extensive six-month renovation, on 1 November 2015, the hotel reopened and started operating under the name Shangri-La’s Le Touessrok Resort & Spa, Mauritius.

    In June 2015, SUN acquired a 100% stake in Anahita Hotel Ltd, which owns the Four Seasons Resort Mauritius. CIEL in joint venture with Alteo also owns 50% of Anahita Residence & Villas Ltd, which is operating under the brand ‘Anahita Golf & Spa Resort’.

    Turnover: MUR 6.6BN for the year ended 30 June 2019


    Share :
  • Sun Resorts Ltd

    Sun Resorts has, over the past 35 years, generated a record of sustained excellence and accomplishments. Born and bred in the unique and harmonious melting pot of races and cultures that is the island of Mauritius, Sun Resorts stand as one of the major Mauritian hotel groups.

  • Long Beach Golf & Spa Resort

    Enjoying along an expansive beach on the lively eastern coast and arguably one of the most contemporary resorts of Mauritius, Long Beach Golf & Spa Resort challenges the ordinary with its distinctively bold, island chic and vibrant offer.

    With its bold island chic and vibrant offer, Long Beach Golf Resort & Spa calls out to high-spirited families and couples with a passion for the now, seeking energetic times or relaxation.

  • La Pirogue Resort & Spa

    Renowned for its authenticity, La Pirogue Resort & Spa, Mauritius is well versed in the art of Mauritian hospitality. This resort has enjoyed a solid reputation for romance and excellent service since its creation in 1976.

    With its warm atmosphere, wonderful beach, exquisite restaurants, lively bars, high-end Aura Spa and the extensive recreational and sporting activities, this mythical hotel promises guests a memorable holiday.

    La Pirogue nestles in 14 hectares of magnificent tropical gardens where the fragrance of hibiscus and frangipani permeate the majestic coconut grove.

    The unrivaled charm of its cosy and unique thatch-roofed bungalows in a lush coconut grove on the flamboyant sunset coast, La Pirogue weaves privacy into an intimate nest. Here, guests revel in the exquisite feeling of stepping from one’s very own island home straight into the gardens and onto an endless beach and vast lagoon. The resort’s vast expanse offers sheer luxury of space to lovebirds, seasoned couples on a romantic escapade to rekindle the flame, families as well as full-fledged tribes for an affectionate bonding time.

  • Sugar Beach Golf & Spa Resort

    The Sugar Beach Resort & Spa unfurls along an exceptional stretch of beach and lagoon on the sun-drenched west coast. Steeped in time-honoured traditions, lifestyle here is infused with tasteful elegance whilst ensuring ultimate current-day comforts and conveniences.

    Gastronomy is open to the world’s cuisines, celebrating fresh seafood and local delicacies. Come sunset, social scenes radiate with warmth and pick up effervescence into the night.

    At Sugar Beach Golf & Spa Resort, service is unobtrusive and tranquillity pervades. This peaceful ambience is enhanced in the privileged areas reserved to wedding and honeymoon guests. As a family, or lovebirds, our guests write their very own stories. They leave with closer bonds, filled with joie de vivre.


  • Ambre Resort & Spa

    Ambre Resort & Spa is set along a tranquil beach between Belle Mare and Trou d’Eau Douce on the untamed east coast of the island. It faces the widest lagoon, catches sunrise and instantly warms up guests to its light and rhythmic ambience.

    Located in Palmar on the east coast of Mauritius, Ambre Resort & Spa is one of the most appreciated All inclusive resorts in Mauritius boasting a 750m coral sandy beach running along a sheltered bay.

  • Kanuhura - Maldives

    Kanuhura not only crystallises idyllic Maldives; it sublimates the castaway experience beyond its exclusive sea-moored and secluded nature-haven villas.

    Reopening in 2016, after full renovations, the resort promises an all-embracing organic sophistication to incarnate authentic luxury.

    In the tropical climate of the Maldives, you will be the special guest at the resort’s own private island, the small, wild paradise of Jehunuhura. To fully enjoy your dream holiday in Maldives, Kanuhura also offers a true gastronomic experience through the expertise of its bold Head Chefs in 5 restaurants scattered across the resort.

Business Sectors Shangri-la's Le Touessrok Resort & Spa

  • Shangri-la's Le Touessrok Resort & Spa

    After an extensive six-month renovation, Shangri-La’s Le Touessrok Resort & Spa, Mauritius, has reopened on 1 November 2015. Drawing inspiration from Le Touessrok’s rich history and the chic style found throughout Mauritius, the hotel welcomes guests with Shangri-La’s renowned Asian hospitality. 

    Nestled along the untouched eastern coast of the verdant island nation, Trou d'Eau Douce Bay's tranquil, uncrowded world-class beaches are found.

    With fashionable restaurants, bars and entertainment venues that are set against the backdrop of a dramatic tropical landscape and offer bespoke experiences and luxurious indulgences, Shangri-La's Le Touessrok Resort & Spa, Mauritius, is sure to become the hottest spot in the country.   

Business Sectors Four Seasons Resort Mauritius at Anahita

Business Sectors Anahita Golf & Spa Resort

  • Anahita Golf & Spa Resort

    CIEL, in joint venture with Alteo, owns the Anahita Golf & Spa Resort.

    Anahita Golf & Spa Resort is located on one of the most beautiful natural sites on the East coast of Mauritius. With the Indian Ocean's crystalline water of the lagoon at its feet, the Resort combines luxury, peace and enchantment. Set amongst 213 hectares of tropical gardens and surrounded by an Ernie Els designed 18-golf course, Anahita Golf & Spa Resort was launched in 2008.