Mauritius’ ER Group targets Africa expansion with $22 million fund through 2029

ER Group, a leading diversified conglomerate in Mauritius led by Gilbert Espitalier-Noël, has launched a new three-year strategic plan through 2029, anchored on regional expansion, sustainability, and long-term value creation, supported by a MUR1 billion ($22 million) Africa-focused investment vehicle.

The strategy, unveiled in Moka before more than 450 senior executives, builds on the Group’s broader ten-year roadmap and follows a period of strong execution that saw the formation of ER Group through the merger of ENL and Rogers, as well as major developments across real estate, hospitality, and mobility.

Expansion and transformation milestones

Over the past cycle, Mauritian-listed business group ER Group has consolidated its position as a major economic player in Mauritius. Key milestones include the launch of the 130,000-square-meter Moka Sports Centre, the expansion of the Telfair business district, and the rollout of XPeng electric vehicles through its Axess unit.

The Group also strengthened its global profile with the opening of La Réserve Golf Links—ranked among the world’s top 30 golf courses within three years—while deepening its financial and regional ambitions through a sustainable finance framework and a dedicated Africa expansion vehicle.

“We are closing this financial year as one of the country’s most profitable, skilled, and impactful groups,” said CEO Gilbert Espitalier-Noël. “This gives us a strong foundation as we begin our new three-year plan.”

Four pillars driving growth

ER Group’s strategy through 2029 is built on four core priorities: improving profitability across all business segments, reinforcing its role as a responsible national player, pursuing disciplined regional expansion, and enhancing shareholder returns.

The Group is doubling down on sectors where it has proven expertise—logistics, technology and energy, hospitality and travel, and financial services—while maintaining a long-term investment approach rooted in Mauritius.

East Africa expansion takes center stage

A key component of the plan is accelerating growth across East Africa and the Indian Ocean. Already present in 17 territories through subsidiaries such as Beachcomber, Rogers Capital, and Velogic, the Group is targeting an increase in regional revenue contribution to 28% by 2029.

Its presence in Nairobi is expected to serve as a strategic hub for further African expansion, particularly in high-growth sectors aligned with its core competencies.

Despite its regional ambitions, ER Group emphasized that Mauritius will remain central to its operations, with continued investment in infrastructure, sustainability, and economic development.

Sustainability and people-focused targets

Beyond financial performance, the Group is embedding measurable social and environmental goals into its strategy. These include increasing female representation in leadership to 40% by 2031, raising electric vehicle sales at Axess to 10%, and ensuring that half of its rental buildings achieve green certification.

“Our people are not only our greatest asset but our responsibility,” Espitalier-Noël said, underscoring the Group’s commitment to inclusive growth and long-term societal impact.

Sector-wide execution roadmap

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.

Across its seven business segments, ER Group has outlined targeted initiatives, including expanding agribusiness operations, strengthening regional aviation presence, delivering major retail and urban developments, and scaling its logistics footprint across Africa.

Its financial services arm, Rogers Capital, is expected to expand into new global financial centers, while its technology and energy businesses will focus on renewable energy distribution and digital growth across emerging markets.

With nearly 13,000 employees and operations spanning multiple continents, ER Group is positioning itself as a key driver of Mauritius’ economic influence, leveraging its legacy and scale to compete more aggressively across Africa and beyond.