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SEM-listed international holding

company with deep roots in Mauritius

speaks to Rogers CEO Philippe Espitalier-NoĂŤl

African Business Network


Rogers is a multi-faceted services and investment company with roots in Mauritius stretching all the way back to 1899. As such, the firm has been contributing to the development of the island for nearly 120 years and as a good corporate citizen, its own development has remained closely linked to that of the country in the postindependence era. Over the last half century, Rogers has been a forerunner in various sectors including tourism and aviation, playing a leading role of the setting up of the national airline, Air Mauritius on the eve of independence. “We have often been among the first to venture into greenfield sectors and the success we have met has been shared with our citizens through our significant contribution to GDP and job creation in Mauritius,â€? says Rogers CEO Philippe Espitalier-NoĂŤl.

A global growth story Today, the Rogers story is no longer centred on Mauritius alone. In recent years, the company has expanded out of its Mauritian base, establishing a corporate presence in several emerging markets, particularly in the Afro-Asian region.

African Business Network Thanks to a series of measured and adaptive management practises and a sense of leadership, agility and dynamism, Rogers now has a sustainable presence on three continents; Africa, Asia and Europe. “It has taken much business acumen and energy to drive our group’s growth beyond the borders of our country. Our financial strength and growth history over several decades despite the ups and downs of the global economy have forged our credibility with our foreign counterparts.” Through its subsidiaries and investments, Rogers currently has more than 50 offices in 16 territories, namely Mauritius, Reunion Island, Mayotte, Madagascar, Comoros, the Seychelles, Kenya, Mozambique, South Africa, India, Singapore, Bangladesh, France, Morocco, Zimbabwe and Zambia. This internationalisation of the Rogers growth story is largely symbolic of the rise of Mauritius on the global stage over the last two decades, as the tiny island nation has become well-renowned across the world as a luxury holiday destination and for its firstrate services industry, particularly in finance and investment. Consequently, hospitality and finance are two of four focus sectors for Rogers, with logistics and property the other key areas that it offers services to in Mauritius and in other destinations around the world. “We definitely have a competitive edge in

TURN YOUR BUSINESS INTO A MASTERPIECE Today’s fast moving world makes it capital for companies to constantly readjust themselves.From small to medium, from local to global, from e ffective to efficient, evolution is essential in order to succeed.Rogers Capital offers a complete suite of corporate services whose mettle is aligned to international standards, including: corporate administration, fund administration, tax advisory and compliance, accounting and payroll outsourcing, and captive insurance management. With our three business segments, Corporate, Financial and Technology, we combine world-class financial expertise with cutting edge technology to provide sophisticated business solutions that are tailored to our clients’ needs. Together, we partner up for progress, we keep evolving.

Corporate | Technology | Financial

African Business Network

our core areas of competency,” claims

A bubbling tourism sector

Espitalier-Noël. “Over the years, we have

Focusing on its domestic hospitality business,

successfully executed our strategy to achieve

in the last year or so Rogers has benefitted

leaner and more streamlined operations.

from a marked upturn in tourism arrivals

these served markets, which have become

after a few sluggish years with regards to “We are now an international services and

visitor numbers.

investment company with a structure that enables us to focus on those things which we

Espitalier-Noël holds up the improved

do best and capitalise on opportunities for

revenue made by subsidiary Veranda Leisure

growth, building on our strengths. The fact

& Hospitality (VLH) as evidence to this point,

that these sectors are mainly service-oriented

which is further strengthened by the fact that

also makes it easier for us to export our

the resort operator turned in a satisfactory

know-how and expand into existing or new

performance despite drops in Euro and


Pound Sterling exchange rates.


In order to capitalise on the growth observed

After recording a bumper 11% rise in visitor

in the domestic tourism market, Rogers has

numbers in 2016 and following this up with a

chosen to significantly increase its investment

smaller (yet still impressive) 5% increase last

in the hospitality sector since 2016.

year, Espitalier-Noël is confident of a similar performance in 2018 within the tourism

“This includes an expansion of our leisure

industry, which is set to further boost Rogers’

offerings to enhance the guest experience,”

hospitality business.

the CEO explains. “We have been capitalising on golf tourism, on gastronomic offerings,

Regional fintech leader

and wellness services, amongst others.

However, Mauritius is not just thought of as a high-end holiday destination. The country

“Our group has been infusing innovation for

has also built a reputation as a world class

decades across the entire travel and tourism

investment hub intersecting Africa, Asia and

value chain in Mauritius and we are intent on

Europe with an advanced fintech network

going further in this direction.”

buttressing the sector.

Resource GlobalNetwork Network African Business

Rogers has embraced this burgeoning fintech

300 professionals and is structured around

culture on the island and become well-versed

three core pillars: Corporate Services,

in the latest technological trends occurring

Technology Services and Financial Services.”

in the business and finance world, offering a range of products and services through its

The Corporate Services segment provides

investment arm Rogers Capital.

fiduciary, outsourcing and consulting services to an established customer base in Europe,

“Rogers Capital delivers on our ambition

the US, Africa and Asia (India and China),

to combine world-class financial expertise

while the Technology Services division is an

with leading edge technology to provide

end-to-end provider of integrated business

sophisticated solutions to businesses,

solutions, cloud computing and mobile

institutions and individuals in their evolution

connectivity services in Mauritius, the Indian

under a solid and respected brand.

Ocean islands and South Africa.

“Our fintech served market currently employs

“As for Financial Services, it is in the process


African Business Network

of introducing some disruptive fintech

and was the largest single contributor to the

offerings in respect of credit and electronic

group’s overall profitability in 2017 with a

payment on the domestic market,” Espitalier-

profit after tax of R974 million.

Noël reveals. Ascencia was founded by Rogers in 2007 to In its remaining focus areas, Rogers

manage its property portfolio, which includes

continues to perform to a high standard, with commercial, industrial, agricultural and the logistics sector recording a 14% increase

office properties in prime locations across

in profit during the last financial year and a

the island. The fund has since grown into

long-term strategy in place to expand the

one of the largest property companies listed

reach of the logistics business beyond its

on the Stock Exchange of Mauritius, with

current footprint under the brand Velogic.

an investment portfolio currently valued at R10.7 billion.

On the property front, Rogers’ listed property fund Ascencia continues to perform well

“The sector remains dynamic with the recent


African Business Network opening of a new mall in November 2017,

The company has also been able to provide

and the construction of a new one in the

tangible success in this respect after both

South of the Island in the pipeline.”

its upmarket resorts in Bel Ombre received

A proud SEMSI firm

the Green Key label, awarded to hotels that promote sustainable tourism.

Aside from its operational performances, Rogers takes great pride in being one of

Over the last three centuries, Rogers has

just 13 companies listed on the SEMSI – the

continually developed in tandem with

sustainability index on the Stock Exchange of

Mauritius, but how will it maintain this growth


curve in the rapidly-changing globalised world of the future? The answer lies in having

“We at Rogers believe that energy drives

a clear strategy, says Espitalier-Noël.

sustainability and in conjunction with our different business sectors, we intend to

“We have well-structured businesses

continue integrating the sustainability

equipped with the right mix of leadership

philosophy into our business strategies.”

skills and dynamism to seize new opportunities and drive organic growth.

It is worth noting that the group’s responsible and inclusive approach to sustainable

“Our three main pillars will be the expansion

development has been singled out by the

of our fintech-related activities, the expansion

UN for its work undertaken at national level.

of our hospitality business with a sizeable

“We are proud to have been included in

leisure arm as well as the enhancement

the Global Compact International Yearbook

of our existing operations with a property

2017 for the work done over the past few

component on our Southwestern estate.

years with respect to lagoon and marine environment protection.

“The overall objective is to achieve a more balanced contribution to group profits from

“The balance between economic, social and

each of our served markets.”

environmental goals has become a constant in our projects. We are also working hard to reduce our carbon footprint in environmental metrics such as energy, water and waste consumption.”


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ABN | Rogers  
ABN | Rogers