Where Service Meets Excellence

Can you share some of the growth phases of the company in the last couple of years?

The last few years have been exalting for the company as we have experienced our best years of growth since we started operations in 2012. With 11 employees in 2019, our team now comprises of over 44 talents with diverse expertise, personalities and capabilities. The growth of the team has been in line with our vision to position our staff as our most prized asset. Our people today,believe in our story and are fully committed to participating in our journey.Their personal and professional growth has resulted in a commendable expansion of the business over the last couple of years.

Indeed, our business has metamorphosed over the years, settingus out asspecialists in the capital market sector. We have positioned ourselves in the fintech segment through a well-thought strategy since 2013 and today we assist world-class businesses through Mauritius. Our clientele originate from Europe, Asia and Africa and our end-clients come from around the world, principally from Africa, Asia and Latin America. In line with the same philosophy, we have also developed our outsourcing activity through a longterm partnership with the panAfrican multilateral trade finance institution, the African Import Export Bank, Afreximbank

According to data by the African Union, the COVID-19 pandemic has set African businesses back by nearly two decades. How were you able to mitigate the impact of the pandemic on your businesses?

The COVID-19 pandemic has been highly disruptive to African businesses resulting in both demand and supply shocks, besides negatively impacting the well-being of millions of our African brothers and sisters. These businesses have been catapulted many years backward but we have seen enormous investments by various governments to help them.

Fortunately, Credentia's businesses were not affected by the pandemic and weexperienced organic growth both prior to, during and post the pandemic period.This has been possible due to several reasons. In the first place, being involved in the service industry, we have been investing in capacity building for several years, caring for the well-beingof our staff,both at a psychological and professional level. In so doing, they stood by the company and provided an unflinching effort in servicing our clients from their homes without disrupting our client services levels.

Prior to the pandemic, we also invested in technology and this allowed us to provide an uninterrupted service to all our clients. We were lucky! The strong technology allowed us to operate seamlessly at any place outside our office premises.

Being in the fintech segment and not involved in physical products has also been a blessing. We were not affected by external conditions such as lockdowns, rise in cost of freights, increased healthcare costs etc.

A recent report by Investopedia shows that Africa has the highest rate of entrepreneurs in the world, but, about 80% of businesses in Africa fail within their first five years of existence. Can you share some of your business success nuggets, to help budding entrepreneurs in the continent?

Indeed, with a population of over 1.4 bn, the opportunities to do business in Africa are massive. However, as is the case in general, data around the world show that majority of businesses fail in the first five years. If the business manages to exist for five years, the hopes ahead are higher for success. Africa is not different. Failure in the first five years can be for different reasons such as good ideabad fellows, false starts, excess optimism and risk related to execution, technology, financing and demand risk

My first recommendation to entrepreneurs is to understand the meaning of failure and to reverse failure and make it become their biggest force. The Lean Startup guruEric Eriesrightly said that “If you cannot fail, you cannot learn”. The lesson from set-backs is two-folds: from direct personal experience which is a powerful teacher and learning from others' failures can substitute for direct personal experience. The thought process needs to shift from why the start-up failed to how to handle the failure of the start-up.

For any aspiring entrepreneurs, we would suggest that he or she moves fast to capture opportunity and refrain from over analyzing. Trust your instincts and be persistent although failures slap you on the face, competitors spring surprises and your products have glitches. Be passionate about your business and have this passion burning whatever may come.

Focus is of prime importance in entrepreneurship. The clients are looking for value and you are the creator of that value. Focus on the creation of value by finding your target customers and create a product that amazes them.

Digitalization is also welcomed during your first five years of operation. Data shows that over 40% of businesses that implement digitalization initiatives experience stronger revenue growth. Going digital would better insulate your businesses against economic shocks or as seen recently, the pandemic has pushed many businesses to close.For the businesses which stayed afloat, digitalization was most important contributing factor Can you share some of your company's milestones and achievements since the formation of the company?

Turning back the clock to 2012, the first milestone was to start Credentia and taking the first step towards entrepreneurship. It has been an electrifying ride since then, although we have had our shares of successes and experiences (failures as described by the common man).

We have been involved with many industry firsts' such as listing of the first company to trade in EUR on the Stock Exchange of Mauritius, assisting for the first permit to be delivered to an investor for 10 years and obtaining the first Single Family Office Licence, amongst others.

One of our main achievements over the past decade is that we have pioneered the establishment of world class brokerage companies in Mauritius. We currently hold the biggest portfolio of international brokerage companiesand service them from the city of Ebène in Mauritius.

At group level, we have diversified our offerings over the years and have set up specialised and separate companies to offer fiduciary services, consulting/advisory services, compliance services, outsourcing services and company secretarial services.

As a Philanthropist, how have your programmes and investments impacted Mauritius and Africa?

Philanthropy is engrained in our culture and through our foundation, the M&S Foundation, we contribute towards our society. The Vision of M&S Foundation is to assists children with physical congenital disabilities to obtain the necessary medical accessibility and assistance to correct this infirmity in order to have a healthier life.

The Foundation concentrates on children born with a physical deficiency and disabilities preventing them from having a normal upbringing; an insufficiency that may affect their mobility, their respiratory system and/or internal organs to digest and extract fluids fluently and naturally. It can be that a child with an irregular heartbeat or a cleft lip need assistance to finance the restructuring of the child's palette and lip or that a baby is born with club-foot and requires reconstructive surgery and reeducation.

The Foundation's Council has the core responsibility to raise capital or seek sponsorships whereby they can then provide a second chance to a family or support in a physical and tangible way for the family to cater for the child's medical needs.

Our first projects have been locally through collaboration with clinics and doctors. We intend to touch other African countries in the near future.

Every man has a dream, what are your expectations for Credentia Group in the next 7-10 years?

With respect to our strategy, we always consider 5-year periods. We devise clear strategies for our group which are to be reached following implementation of clear goals and targets.Our strategies can be modified along the way, depending on changes in our external environment. We have positioned ourselves for the long-term and we always share with our people that we will always need to behave like a startup. With this mindset, you always have the hunger and the fire to achieve big dreams.

In quoting Martin Luther King “if you can't fly then run, if you can't run then walk, if you can't walk then crawl, but whatever you do you have to keep moving forward”. We follow this principle to the core and believe that the foundation to become a world-class player has already been laid. We aspire to progress and attain excellence every day, to be known as the group which functions with the highest ethics and transparency

As an individual, it is important that above all we have a positive impact on society and other fellow people. For me,Credentia is not just a profit-making company, we want to contribute to society even more then that we are doing today through the group and personally. When looking back on our lives it is always more impactful to know and appreciate that we have had a positive impact on other peoples' lives either through our business ventures or personally in our relationships with others.

As a distinguished honouree and recipient of both African CEO Impact Award and induction into the ALM African Leadership Council (ALC), how do you feel and how does this add to your personality?

It is an honor to know that my contribution is being recognized but in no way do we do this alone, we are surrounded by wonderful people every day who contribute to the dream and by achieving objectives together, we make impactful advancements. As an individual, I am humbly recognizant that my contribution has brought about a positive bestowal. It has made the lengthy hours of hard work and sacrifices all worth it.My success is the success of all these persons around me, the success of their families and the progress we all are making.

On a side note, I consider Napoleon Hill and Jim Rohn as my mentors and all my work is greatly influenced by the thoughts of these great men.

I would like to thank the AFRICAN LEADERSHIP MAGAZINE for this validation, it encourages me to pursue what I have been relentless ensuring with enhanced motivation.

My first recommendation to entrepreneurs is to understand the meaning of failure and to reverse failure and make it become their biggest force

Whether you are considering starting a new business venture or just need a morale boost to keep up the hard work of running an existing business, quotations from successful entrepreneurs educates, informs and inspires. They help remind us that every successful entrepreneur faces hurdles, and their ability to overcome those hurdles makes them successful.

Here are top 10 nuggets of successful African entrepreneurs.

ALIKO DANGOTE, a Nigerian industrialist and founder of Dangote Group.

“Every morning when I wake up, I make up my mind to solve as many problems, before retiring home.”

TONY ELUMELU, a Nigerian economist, entrepreneur, and philanthropist. He is the Chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation.

“Entrepreneurship means Africans no longer have to find a job or be trained to be employees. Instead, it will enable our young people to create their own jobs, become employers, and take charge of their futures, instead of letting the future happen to them. As an entrepreneur myself, I understand what it feels like to yearn for a lifeline, to hope for a 'big break', to look forward to enjoying some luck”

JOHANN RUPERT is a South African billionaire businessman and the chairman of the Swiss-based luxury-goods company Richemont and the South Africa-based company Remgro.

“As you start out in life, it is important that you know at least something about everything, but as you get older it is important that you know everything about something.”

ISABEL DOS SANTOS, Angolan businesswoman.

“I think there are a lot of people with family connections but who are actually nowhere. If you are hardworking and determined, you will make it and that's the bottom line. I don't believe in an easy way through.”

STRIVE MASIYIWA is the founder and executive chairman of diversified international Telecommunications, Media and Technology group, Econet Wireless

“Attitude determines your altitude, if you have a bad attitude, even if you are way up there, you will come crashing down, and if you are still trying to take off, a bad attitude, will keep you on the ground, revving your engines but going nowhere.”

MIKE ADENUGA is a Nigerian billionaire businessman. His company Globacom is Nigeria's second-largest telecom operator

“The harder you work, the luckier you get.”

LATE DR. CHRIS KIRUBI was a Kenyan businessman, entrepreneur, industrialist and philanthropist. He was a Director at Centum Investments, a business conglomerate.

“Business is always a struggle. There are always obstacles and competitors. There is never an open road, except the wide road that leads to failure. Every great success has always been achieved by fight, every winner has scars. The men who succeed are the efficient few; they are the few who have the ambition and will-power to develop themselves. So choose to be among the few today”

MOHAMMED DEWJI, Africa's youngest billionaire and CEO of METL.

“Business as usual will never lead to growth and development. Only through innovation and change will you see real progress!”

FOLORUNSHO ALAKIJA, Nigerian billionaire businesswoman and philanthropist. She is involved in the fashion, oil, real estate and printing industries.

“Dream big. There is nothing seen that wasn't imagined. There's no overnight success. You have to start by dreaming big and working towards your goal.”

HAKEEM BELO-OSAGIE is the chairman of Etisalat Nigeria, Nigeria's fourth largest mobile telecom.

“In today's world, paradoxically, it is the boldest action that is often the safest. Remaining where you are in a world that is changing so rapidly is, in fact, the most dangerous of all places to be in.”

Mathieu Mandeng, the Chief Executive Officer of Standard Chartered Bank Mauritius, is a seasoned professional with a 33-year career across the banking, metals and mining, and technology industries in Africa, Asia and Europe.

For over 21 years, Mathieu has been at the pinnacle of banking,16 years of which have been at Chief Executive Officer (CEO) level. His experience has regularly been sought on various economic development and financial sector forums and councils for input on strategy and resilience.

Mathieu was appointed CEO of Standard Chartered Bank Mauritius in December 2015 and, in that capacity, chairs the board of four Standard Chartered Bank Private Equity Funds investing in India, China, Nigeria, Botswana, Hong Kong, and Mauritius. Mathieu joined Standard Chartered in 2004 in his native Cameroon, where he held the positions of Executive Director, Head of Client Relationships (Corporate and Institutional Banking) and Deputy Managing Director before being appointed CEO in 2007.

His sustained track record for driving record business performance throughout his banking career has earned him many awards, including the Standard Chartered CEO of the year award for Africa and Middle East (AME) in 2019. As CEO of Standard Chartered Cameroon, Mathieu was engaged at various levels of the economy, including as Chairman of Cameroon's Banker's Association (APECCAM), Chairman of Business Coalition Against Corruption and Member of the Prime Minister's Investment Council and Cameroon Business Forum.

Mathieu further worked with the Singapore Business Federation (SBF), promoting trade and investment between Singapore and West Africa.

Before Standard Chartered, Mathieu worked at Citibank Cameroon. Following an induction in New York, he becomes Country Head of Global Relationships with Banking and Financial Institutions, Country Coordinator for Return on Economic Capital, and Credit Officer. Before banking, Mathieu worked in France, where he accumulated ten years of experience in various capacities in the metals and mining industry

Mathieu was appointed a Director of the Economic Development Board of Mauritius (EDB) by the Prime Minister of Mauritius and is also a director of Mauritius Finance and a member of the Economic Committee of Business Mauritius (BM). He previously served as Vice Chairman of the Mauritius Bankers Association (MBA), Chairman of the Global Business Committee of the association, Director of Global Finance Mauritius (GFM), Chairman of the Corporate Finance Taskforce and Vice Chairman of the Sustainable Finance Committee of the Financial Service Commission (FSC) in the context of the Financial Services Blueprint design and implementation.

Mathieu holds an MSc in Finance and Management Control from the University of Orleans and an MBA in Enterprise Management from the University of Bordeaux, France. He also has a BSc in Economics from the University of Yaoundé, Cameroon and is an alumnus of the Said Business School of the University of Oxford, United Kingdom.