Integrated Report 2023

Going and growing ‘Beyond Borders’ is a strategy that transcends the boundaries of geography. It embodies a mindset that fuels our pursuit to push beyond the familiar, venture into uncharted territories, including Africa and further, and continuously expand our horizons. It is our compass, guiding us to create new pathways, forge new alliances and redefine what is achievable. With this philosophy, we stride ahead as trailblazers and leaders in our markets, united in our purpose to shape a brighter future for all - a future that knows no bounds.

At a Glance

Team Members


Group Revenue (MUR)


Group Profit Before Tax (Rs)


Group Profit After Tax (Rs)


Market Capitalisation (Rs)


Interview with the Chairman

Jan Boullé Chairman

Dear Stakeholders,

The financial year 2023 (FY2023) was an eventful one for IBL. We delivered an excellent performance in pursuit of our ambitious strategy to expand our activities Beyond Borders. Almost every cluster saw improved results and achieved important milestones in its growth trajectory. As a result, the Group closed the year with a turnover of Rs 54 billion, representing a 20% increase over FY2022. Profit After Tax followed suit, almost doubling over the previous year to reach Rs 4.9 billion - a landmark for the Group.

Interview with the Group CEO

Arnaud Lagesse Group CEO

What a year this has been for IBL Group! Indeed, FY2023 shaped up to be another historic year. Numerous milestones were achieved, records were set in our lines of business and large-scale investments were fulfilled. With our eyes firmly set on East Africa and the Indian Ocean, our Beyond Borders ambitions have placed IBL squarely on the regional stage.

Dipak Chummun Group Chief Finance Officer

The last three years have been difficult, with a sequence of issues affecting our markets and businesses. First, we had the global pandemic, then the temporary grey and black-listing of Mauritius as a jurisdiction, the downgrade of the Sovereign credit rating and then the war in Ukraine. All of the above have created significant volatility in supply and demand, currency exchange rates, pricing of commodities and an inflationary environment.


In conversation with Jorsen Patten & Michel Pilot COO East Africa Operations &
COO - IBL East Africa Investment

The Beyond Borders strategy has definitely gained momentum in 2022, and closing the deal with Naivas - a well- loved and well-respected Kenyan brand - no doubt played a springboard role in accelerating this expansion.


International Presence

Africa focus
1 11 2 3 4 8 14 22 5 9 6 7 12 13 16 17 15 18 20 19 21 10

IBL is present
in 22 countries
  1. Brazil
  2. Ivory Coast
  3. France
  4. Romania
  5. Uganda
  6. Kenya
  7. Tanzania
  8. South Sudan
  9. Somalia
  10. Zimbabwe
  11. Gambia
  12. Comoros
  13. Madagascar
  14. Dubai
  15. Seychelles
  16. Reunion
  17. Mauritius
  18. Maldives
  19. India
  20. Sri Lanka
  21. Singapore
  22. China
Countries of Operation Tanzania
Milling Plants 1
Area under cultivation 8,000 Hectares
Sugar production
(2023 estimate)
113 000 tonnes

1,941 permanent employees

1,039 seasonal workers

800 outsourced services

Countries of Operation Kenya
Milling Plants 1
Sugar production
(2023 estimate)
100,000 tonnes
Outgrowers 17,000+

1,500 permanent employees

2,500 labour contractors

Countries of Operation Mauritius, Kenya, Uganda
No. of offices 3
No. of client accounts managed 950+
Employees 200+ graduates and skilled professionals
Countries of Operation Kenya
Number of stores (October 2023) 100
Formats 3 (hypemarkets, supermarkets, express)


Countries of Operation Ivory Coast
Fishmeal factory 1
Fishmeal 4,400 tonnes
Oil produced 400 tonnes


Countries of Operation Kenya, Uganda, Tanzania
Warehousing 106,000 ft2 capacity across 4 locations
Number of brands represented 400
Sugar production 113 000 tonnes
Employees 630
Market reach 5,000+ points of sale/outlets
Countries of Operation Kenya, South Sudan, Somalia, Zimbabwe, Gambia
Total installed capacity > 45 MW >130 Installations
Carbon (IV) Oxide (KG) reduction over the last one year 32,286,607
CO2 reduction equivalent to trees planted 113 000 tonnes
Employees 40+