IBL in strong growth
The IBL group recorded a turnover of 27 billion rupees in the second half of 2022 (approximately 548 million euros, +23,5% in one year) and a net profit group share of 1,7 billion (around 34 million euros), against 1,5 billion a year earlier.
The hotel activities of the main Mauritian conglomerate were, however, affected by the closure of the Lux de Belle Mare, ravaged by fire in July 2022. The reconstruction of the establishment is underway, for an expected reopening in the 2nd half of 2023.
In the field of distribution, the profitability of the Winners supermarket chain is undeniable and the Kenyan chain Naivas, acquired last year, also contributed to the group's profits. The development of IBL in East Africa is generally bearing fruit. Its sugar activities in Kenya and Tanzania, grouped together in the Miwa Sugar entity, notably generated net profits of more than $13 million.
IBL takes over Harley’s with Proparco
IBL set to take majority stake in Harley’s, medical and pharmaceutical importer-distributor present in East Africa.
The Mauritian group is supported in this operation by Proparco, subsidiary of the French Development Agency. Family group, Harley’s is mainly located in Kenya, in Tanzania and Uganda, where it has more than 700 employees.
Inflation at 11,8 %
Annual inflation stood at 11,8% in Mauritius at the end of January, according to the latest data from Statistics Mauritius.
The price rise continued during the first month of 2023 : 1% on food products, 1,8% on housing and energy, with points at 3,3% on home equipment and 5,6% in one month on medical care.
Nearly a million tourists in 2022
The objective set several times by the government has not been achieved, but approached closely : tourist numbers in Mauritius have not crossed the one million arrivals mark in 2022, but brushed against her, with 997,290 visitors claimed by official statistics, which add arrivals by plane and by boat. In the fourth quarter of 2022, arrivals from mainland France have almost returned to their pre-crisis level and the number of tourists from the United Kingdom was even higher.
Pour 2023, the Mauritian government is counting on 1,4 million visitors. In January, the sister island welcomed nearly 108,000 tourists, a figure still slightly lower than those of 2018 (120 000) and 2019 (122,000 arrivals).
Freedom of expression : Mauritius falls in the ranking
Le Global Index of Free Expression, made public at the end of January, confirms growing censorship criticism of the Mauritian government. The sister island falls in this annual world ranking taking into account several criteria (freedom of the press, digital freedom, academic freedom). Mauritius appears in 62nd position and 13th place among all African countries. It is now listed in the category « significantly narrowed » (freedoms significantly reduced), with an overall rating of 5 in a ranking ranging from 1 to 10.
