GML, a Mauritian company headed by Arnaud Lagesse has just recently popped onto the radar being named one of the World Economic Forum Global Growth companies for 2014. The highly diversified group is an institution in Mauritius, with 13,000 employees, and a focused strategy of expanding into Africa, it seems like GML is certain to be placed on the map going forward. The mantle of being recognised as a Global Growth company is one that seems to bring with it networking opportunities that not only boost companies in their successes, it also champions the personalities behind the success. With rapid growth and development on the horizon it certainly seems like GML and Lagesse are worth looking out for. – LF
ALEC HOGG:  Well, we cross over to Mauritius now for a look at GML. It’s one of the Global Growth companies, selected by the World Economic Forum. We’ve been doing a series on this. You might have remembered. Yesterday we spoke with Serge Belamant. We also had a discussion with Mr Lancaster from Webber Wentzel earlier in the week. We now pick up – in Mauritius – the CEO of the company, Arnaud Lagesse. Mr Lagesse, it’s nice to have you on the program. You are not well known in South Africa (GML), but it is, in a Mauritian sense, a bit of an institution.
ARNAUD LAGESSE:  Yes, indeed. GML is one of the largest companies in Mauritius and we are trying to extend our footprint to Africa slowly, but surely.
ALEC HOGG:  Being on the World Economic Forum’s list, clearly you have an opportunity to network with other Global Growth companies. Are you looking to use this as a springboard to go into other parts of the continent?
ARNAUD LAGESSE:  Firstly, I would like to say that this recognition from the World Economic Forum is a source of great pride for us, for the thirteen thousand employees of the group, and that clearly puts GML on the forefront of the fastest-growing companies in Africa. Yes, this will hopefully help us to join ventures with a couple of big names in Africa, to extend our footprint and develop a couple of businesses. We have things in hand in Mauritius and we know how to do for example, sugar, banking, hospitality business, or seafood (to use a couple of examples of the group’s activities).
GUGULETHU MFUPHI: You have a very diversified company. What’s your strategy in order to conquer the rest of the continent?
ARNAUD LAGESSE:  Okay. Firstly, I would say that Mauritius is Africa, actually. We are not seen as an outside part of Africa, but rather as integrated into Africa. The word ‘conquer’ is quite bold, but certainly, we are going to focus on the know-how we’ve developed in-land here, taking into account that Mauritius is our home base and that we are going to use this home base to develop ourselves. This strategy is very focused on each and every business we have. As you just said, the business is quite diversified and we can’t have a diversified strategy, but rather a very focused strategy for banking whereby we bought a bank in Zimbabwe. We are just happy looking at some opportunities in East Africa. If we look at the hospitality business, we’ve been signing/monitoring contracts in the United Emirates Arabic countries, and we should look at the seafood activities. Our ideal subsidiary is operating. We just signed a partnership with the Gabon government to develop this opportunity in Gabon.
ALEC HOGG:  Arnaud, you didn’t mention Nigeria or South Africa – the two economic giants. Do you have any ambitions in those two countries?
ARNAUD LAGESSE:  Okay. Yes. We are actually in South Africa. We have a corporate finance house in South Africa and two rep offices for our bank: one in Cape Town and one in Johannesburg. As far as Nigeria is concerned, no, we’re not yet in a position to go to Nigeria. I think it’s the country that will probably lead Africa in the years to come and our CEO’s would really need a better understanding of the country as well and see what type of opportunities GML could grab there, but not yet.
GUGULETHU MFUPHI: You mentioned your CEO’s. You’ve been at the helm of the company since 2005. Are you looking to stay on a little longer or pass on the baton?
ARNAUD LAGESSE:  Yes, I’ve been CEO for the past nine years now and I must say that there’s quite a lot to do in the future as well. I’m giving myself another ten years to continue and develop the group in Africa, and to really try to impose a culture of GML within the people who are the key assets in our group.
ALEC HOGG:  You mentioned earlier that you bought a bank in Zimbabwe. That’s bold. What motivated it?
ARNAUD LAGESSE:  Yes. We actually bought the former Kingdom Zimbabwe Bank. Our motivation is that Zimbabwe is probably going to thrive in the future in this part of Africa, and we thought it was a good opportunity to get there a bit earlier. In addition, now that the economy is completely dollarised, we can see some stability on the economic front. Having said that, there are still many challenges in this country and we are paying our school fees in terms of understanding the eastern part of Africa a bit more, as far as banking activities are concerned.
ALEC HOGG:  Arnaud Lagesse is the Chief Executive of GML, Mauritius’ biggest company, as we heard. Gugu, thirteen thousand employees…for Mauritius, that’s massive. I’ll tell you something interesting about this. Iqbal Surve, who now owns the Independent Group, got the networking and the resources by being one of the Global Growth companies of the west. He told me. He was introduced to many people from various parts of the world, including in an industry where he wasn’t really focused or exposed in the past – in media. Now he’s the proprietor of the Independent Group. It just shows you – interesting things coming from the World Economic Forum’s Global Growth companies. I have a feeling we’re going to be hearing a whole lot more about GML into the future.
