ENL Group launches Venture Capital Fund of Rs 760 million.
The CEO of ENL Group, Hector Espitalier-Noël announced a Capital Venture Fund to support the investments of the group in Mauritius and in the African region. (Image: architectsstudioltd).
With the aim in financing the investment of the group in Mauritius and some African regions ENL group is investing Rs760 million this year.
In its first edition of the corporate magazine ‘Enlighten’ for 2015, the Chief Executive Officer (CEO) of the group, Hector Espitalier-Noël has announced that Africa Desk of ENL will be a key player as the fund invested during this operation will empower and enlarge its initiative in the African continent.
Hector Espitalier-Noël also declared that the Venture Capital Fund would progress with the prime objective to invest in dynamic and promising areas in the local and regional activities.
“We have important driving instruments to explore the regional market, gaining access to information in the business sector, to mobilize capital and to build promising business networks. Our group will realize numerous initiatives taken in order to consolidate and increase growth. Moreover change in the administrative level in the business sector will lead to a new dynamism in the new national economy”, the CEO of ENL declared.
He also added that the ENL group “should clinch its first investment opportunity outside Mauritius while Rogers pushes further the boundaries of its own international influence.”
The ENL group also reveals its interest for Kenya, where according to the CEO, Kenya has evolved in terms of its social and economical history during its post independence era while acquiring a relative educational values and discipline.
“Kenya has outstand itself as an investment destination in order to achieve profits, our ties and contacts with the partners and regulatory authority is very positive”, Hector Espitalier-Noël said.
He also added that the treaty of double taxation has been in force between Mauritius and Kenya since the beginning of the year.
Furthermore, the ENL group believe that different segments of activities should come forward during this year in order to rationalize the operational procedure and administrative.
“I also expect the adoption of new tools and techniques to help us nurture a culture of service and excellence across the group in order to increase return and increase in wages in the Sugar Industry,” said Hector Espitalier-Noël.
He further said that there has not been increase in productivity and progress in terms of labor.
“I find solace in the industry’s track record of bouncing back from dire straits.” However, he ponders on the fact that the sugar industry is going through a tough period and that once we overcome this difficult economic era, we will see better days.
As for Tourism, the CEO believes that the Group will focus particularly on this promising sector, “Prospects in the sector may have slightly improved lately but we are still far from sustainable prosperity.”
He also said that he would come forward with a “competent national task force, in order to open economic and diplomatic path and measures to improve competiveness in the tourism industry.”
Finally, he pursued that the tourism industry has the potential to promote Mauritius as an international destination for business sectors, innovators, thinkers and competent entrepreneurs with all their business connections.