Arnaud Lagesse
CEO of IBL Group
Economy / Mauritius
“The biggest challenge Mauritius faces is the attraction, development and retention of human capital”
Two years ago, Arnaud Lagesse initiated the merger of two Mauritian stalwarts — GML Investment and Ireland Blyth. The result was the creation of one of the largest and most diversified business groups in Mauritius, which Lagesse oversees today as one of the youngest CEOs in the nation. Since the merger in July 2016, IBL Group has seen share prices soar more than 90%, as the company continues to outstrip expectations, notably in its hospitality, finance and agricultural operations. Lagesse tells us more about IBL Group’s expansion plans and what he sees as the immediate challenges for Mauritius – attracting, retaining and developing human capital.
How would you quantify the impact IBL has had on Mauritius today?
IBL is Mauritius’ largest group by turn over, market cap (excluding the banking sector) and employees, with more than 22,000 team members. We are a major player in the nine sectors in which we operate, including the agriculture, hospitality, building and engineering, manufacturing and processing, property, logistics and financial services sectors. Our aim is to strengthen these industries, fuel their growth sustainably by injecting adequate resources and innovative tools and processes.
What is IBL’s expansion strategy into Africa and, indeed, more globally?
We opened a regional office in Nairobi to affirm our presence and facilitate relationships and partnerships in SADC/COMESA region. Moreover, we wish to consolidate our international presence through our world-class expertise. For example, our hospitality expertise through the LUX* brand has been recognised and adopted in various parts of the world. Our banking sector, represented by AfrAsia Bank, with its client-centric approach and bold attitude is also expanding rapidly in the region and beyond.
How would you assess Mauritius’ competitiveness as Africa’s business hub?
Mauritius is ideally situated and structured to be Africa’s preferred partner. Moreover, the legal and fiscal context that rules our relations with this continent and those who want to invest in Africa allows an ideal positioning to facilitate business or investment. However, all industries or fields are not equal in their relationship to Africa. For example, IBL’s agro division has successfully expanded into African countries, but our manufacturing and processing divisions have encountered more obstacles and struggle to establish working relationships.
What is the biggest challenge Mauritius faces today?
In my opinion, the biggest challenge Mauritius faces is the attraction, development and retention of human capital. New industries, new processes and evolving technology require specific expertise. On one side, we need to attract this talent, some of which are not present on the island, and on the other, we need to create appropriate educational channels and opportunities to ensure that evolving industries will be appropriately staffed in the future.
What would you say is the secret ingredient to Mauritius’ success?
A large part of Mauritian culture is based on entrepreneurship; all communities have been proved to build businesses over centuries, starting from scratch and creating value along the way to better the quality of life for future generations. At IBL, we think that entrepreneurship is a constant state of mind. We disseminate this culture on a daily basis, ensuring our team has all the tools to access to information, education and training. We root our work culture in strong values in which we believe and promote a mind-set of dynamism, agility and flexibility.
