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



CIEL Finance

Cluster's Financial Results

Revenue for the year
ended 30 June 2017 (MUR)

2016 : MUR 1,932M



PORTFOLIO - Asset Management

PORTFOLIO - Fiduciary Services and Companies / Funds administration

PORTFOLIO - Private Equity

executive report

CIEL Finance


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 900 employees, BNI runs 58 modern branches, including 27 in Antananarivo and its surroundings, and a network of more than 70 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


    Mauritius International Trust Company Limited (MITCO), is a one-stop-shop for international tax, global estate planning, trust, fiduciary, fund administration, accounting and administration services.

    MITCO which is registered with the Financial Services Commissions has a network of associates in London, Channel Islands, Isle of Man, Geneva, Luxembourg, Cyprus, Mumbai, Singapore, Hong Kong, Shanghai, Kenya and Johannesburg.

    MITCO Group comprises of three professional firms namely Mauritius International Trust Company Limited, MITCO Corporate Services Ltd and MITCO Limited in the 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.