ER Group launches $21.3 million East Africa fund, opens Nairobi office

Mauritian-listed business group ER Group, led by Gilbert Espitalier-Noël, has established a regional office in Nairobi and launched a MUR1 billion ($21.31 million) investment fund to accelerate its expansion across East Africa, marking a major step in its post-merger regionalisation strategy.

Formed in 2025 through the merger of ENL and Rogers, ER Group is deepening its presence in one of Africa’s fastest-growing economic corridors, targeting markets including Kenya, Tanzania, Zanzibar, Rwanda, and Uganda as part of its first-phase expansion.

Backing expansion with dedicated capital
The newly created regional fund, established alongside equity partners, will provide growth capital for ER Group’s subsidiaries, support selective investments, and enhance its capacity to pursue opportunities in sectors where it already has operational expertise.

The Nairobi office will serve as the hub for this expansion, with Rasmus Bentzen appointed as regional representative. With over a decade of experience in East African private equity, Bentzen will lead deal sourcing, partnerships, and execution of the Group’s regional strategy.

“Establishing a regional office in Nairobi strengthens our ability to identify opportunities and support the expansion of our subsidiaries across East Africa,” said Gilbert Espitalier-Noël, Group CEO.

Driving international revenue growth
Regional expansion is central to ER Group’s ten-year strategy, which aims to double the contribution of international operations from about 15% of revenue to 30% over the next decade. The Group, which already operates in 17 territories, is prioritizing measured growth through partnerships and sector-focused investments.

Its diversified platform spans logistics, hospitality, finance, real estate, and energy. Subsidiaries such as Velogic (logistics), Rogers Capital (financial services), and New Mauritius Hotels (hospitality) already maintain operations across multiple African markets, providing a foundation for deeper regional integration.

Strong earnings support expansion
The ER Group, formed in July 2025 through the merger of ENL Group and Rogers Group in Mauritius, is built upon the legacies of the Noël and Maingard families, who have been pivotal in the development of these entities over two centuries.

ER Group’s expansion push is underpinned by solid financial performance. For the first half of FY2026, the Group reported revenue of MUR23.2 billion ($494.39 million), EBITDA of MUR6.4 billion ($136.38 million), and profit after tax of MUR2.6 billion ($55.41 million), with a robust 26% operating margin.

With dedicated capital, an on-the-ground presence in Nairobi, and a diversified operating base, ER Group is entering a more active phase of African expansion, positioning itself to deepen partnerships and capture growth opportunities across East Africa and the Indian Ocean region.