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Mauritian conglomerate CIEL raises US$31 million through a sustainability-linked bond under Arnaud Dalais, targeting women empowerment, emissions and water use reductions.
While revenue edged higher, the group’s profit took a hit, weighed down by new tax levies and weaker contributions from its agro business.
This was fueled by disciplined cost management across the group’s business clusters, solidifying its standing as one of the largest and most profitable conglomerates in Mauritius.
Despite this recent setback, Dalais remains one of the most affluent CEOs in Mauritius and East Africa.
Dalais, the chairman of the Mauritius-based company, owns an eight-percent stake in CIEL.
CIEL is a Mauritian conglomerate operating in emerging markets across Africa and Asia.
The rise in the market value of his shares occurred on the back of sustained bullish sentiment in the company.
The gains in his stake were triggered by a recent surge in the company’s shares.