World Economic Forum picks GML among Africa’s fastest-growing companies
Mauritian conglomerate GML is a major regional business group encompassing a portfolio of around 300 subsidiaries and associated companies with a turnover of MUR 29.2 billion as at June 30th 2013. (Image: GML)
GML is the first Mauritian company to be selected as one of the ‘Global Growth Companies’ (GGCs) in Africa by the World Economic Forum, rubbing shoulders with 16 other fast-growing companies in the continent.
This distinction ensures that GML enters the select group of companies at the international level which currently consists of just over 360 companies from more than 65 countries.
“It is a recognition of the relentless work undertaken by 13,000 employees of the group and our capacity to reinvent constantly in the face of numerous economic challenges,” said Arnaud Lagesse, CEO of GML.
GML has consistently been number one among Mauritian companies and has also distinguished itself as the third largest company in the Southwest Indian Ocean region.
“It is a source of pride for the country to see a local company, whose origins date back to 1939, or exactly 75 years ago, which continues to grow and diversify and get recognition at the international level,” GML’s CEO added.
The 16 nominated African GGCs represent a broad cross section of industrial sectors, but have in common a track record in exceeding industry standards in revenue growth, promoting innovative business practices and demonstrating leadership in corporate citizenship.
“The World Economic Forum is proud to recognize these 16 champions that are at the forefront of driving responsible economic growth and job creation as well as igniting the entrepreneurial spirit in Africa. We look forward to the active and dynamic role they will play at our meeting in Abuja and working with the region’s leaders to foster inclusive and sustainable growth in the region,” said David Aikman, Managing Director and Head of New Champions at the World Economic Forum.
The 16 nominated African GGCs are Nation Media Group and Bidco Oil Refineries Ltd from Kenya; GML from Mauritius; Nagode Group, UAC of Nigeria Plc , Computer Warehouse Group, Interswitch Limited, Notore Chemical Industries Ltd, Seplat Petroleum Development Company Plc from Nigeria Growthpoint Properties , Capitec Bank Holdings Ltd , Webber Wentzel ,KZN Oils, Net1 UEPS Technologies Inc, Tekkie Town from South Africa and finally Simba Group from Uganda.
Potential GGCs are evaluated according to the four preselected criterions, which are growth, impact, leadership and global corporate citizenship.
Finally, the GGC community provides the opportunity for executives from high-growth companies to connect meaningfully with other businesses as well as leaders from government, civil society and academia.
This allows them to shape global, regional and industry agendas and engages in meaningful exchanges about ways to continue on a sustainable and responsible path of growth.
GML is a major regional business group that is active in many of the key sectors in the Mauritian economy. The group encompassed a portfolio of around 300 subsidiaries and associated companies with a turnover of MUR 29.2 billion as at June 30th 2013.
The Mauritius-based conglomerate has two holding companies: GML Ineo Ltée and GML Investissement Ltée and has interests in some of the country’s flagship companies including Ireland Blyth Ltd (IBL), Phoenix Beverages, The United Basalt Products, LUX* Resorts, AfrAsia Bank, Alteo and Alentaris.