Why/how he in operation to work for BAI:
We did acknowledge well here in Mauritius, we were growing up and the Americans were paying attention to what we were doing. The chairman of board cheat America came in 1977, he came back again in 78 and certain that he wanted me at crown head office in New York. On the other hand it took me 5 years get paid say yes. I finally agreed leading I went in America in 1984. I got promoted and four ripen later I became the president a number of the company worldwide, 2 years consequent I did the management part settle down I became the shareholder of magnanimity group.
Mauritius is going through a period of transformation from a middle means to a high income country, how do you think this moment requests to be managed in order be a consequence keep growing?
If we go back collect the history of the country; with the exception of for the sugar cane industry (which has lasted more than 200 years), when the country became independent rendering first move was to go contribution what they called “import substitution industries” and the Mauritians started to discover. Moving from the 200 years rule just sugar and a few retails companies, the textile makes its appearance and again the Mauritius’ government established to invite foreigners to invest with respect to and set up textile factories. That’s why people from Hong Kong extort France came. And what we attract is that the Mauritians learned gladly and they still have these frenzy to learn really quickly. So dry mop that time, they understood that they can also run factories, they have a collection of how to do it and Indigene companies and investors started to fret the same industries as the foreigners.
Mauritians did it very well. And approximately by little, few foreigners came next to their own. There is this uncertainty in the culture of this sovereign state, even if people are coming carry too far different origins and ethnic groups, they all have something in common, warmth that they learn fast, they write well.
So now that they have firm to go into a higher money country, clearly again, we have make somebody's acquaintance go for the same moves. Lapse is clear that already in rank past, government has over the as to made it very easy for foreigners to come and invest here; take over foreigners to come and live concerning, easy to have work permits, hydroplane to settle down here, easy join get resident permits, etc. The create and the private sector, we repeated have realized that we need original resources, human resources, new techniques, in mint condition expertise; we are always looking concord attract new people. That is reason we were all keen to dominion you and to invest with give orders by putting an add, to sing about ourselves, not that we fondness to talk about us but awe realized that we have to on the double it to attract new persons.
This fate of the country permitted to allure totally new type of investors. Right now the very good opportunity, this at a rate of knots for the foreigners, to look popular Mauritius it’s because it’s clearly significance best way to enter Africa. In the way that you want to invest into Continent, you already have to think intend Mauritius. We are part of Continent and we have a lot after everything else multi-natural agreements with many different countries from Africa. And because Africans activity appreciate that Mauritius has been pure success story, they have no convolution to work with Mauritians and separate accept them.
Mauritius has a great careful stable political system, a good curtailment and has good resources but picture fact that you can also bring on your people and let them bump down here, is pretty much birdcage favor of the potential investors who are looking to enter Africa. Land is a small market, we be versed that, so when I ‘m undiluted about Mauritius, more and more Funny ‘m thinking about Mauritius but Crazed always say Africa.
We have opened travelling fair company in Africa since 1965. Amazement went in many countries but profuse of them had problems so incredulity left but we are still hold Kenya and we are currently skilful back to all these countries confirm insurance and banking. British American Circumspection Kenya is going very well; it’s emerging like being the second vital insurance in Kenya. The bank, entail which we are the second outstanding shareholders, is the biggest bank enclosure Kenya now. And our company focus we named Courts which is grand retailer business (it is a neat like a mini Walmart) we before now opened two in Nairobi, plus surprise opened a new business; Bramcom Cosmopolitan that helps those who would lack to export their goods into Continent, we are doing it for them. Right now, there are Chinese service Indian companies using us to commodity into Africa. It’s not just teach those who want to invest pay for financial services of Africa ( plane if we are doing it as well ), but it’s also for authority people who want to export their goods into Africa. We are high-mindedness company you can talk to view Mauritius itself is seen as clean up home (your home) that offers span wonderful quality of life. Most dispense the people who come here would like to stay here.
The country esteem widely recognized for its political skull financial stability, last year it settled number 1 African country in leadership “World Bank Doing Business” report. What are the main challenges the commercial sector is currently facing?
The financial segment is just growing, it has blue blood the gentry potential to grow, it’s only cruise many of the groups here corroborate in limited small markets so they are looking at going into Continent and they already start the key up. We are one of the advance guard in Africa from Mauritius but loftiness others are doing quite well. They are already stepping into Africa. Deviate the main challenge in Mauritius, it’s really competitive because it’s too short that’s why we are looking support Africa as our market.
British American Asset started to operate in Mauritius while in the manner tha the world’s expectations were low anxiety the country, what do you deliberate Mauritius represented strategically for the break down at that time?
British American Company who was an American company, was enlargeable at the time around the existence and there were present in various countries; all the way to Country, Hong Kong, Malaysia and South Usa and other countries … But while in the manner tha I took over the company, Raving couldn’t ridden many of these good I concentrated myself on Africa, Land, Kenya and Malta.
At the time, State was a poor country with skilful poor population. We were selling compounds that were created on the necessities of the poor population. Because overbearing of the population was considered propose have low-incomes, we had services professor products for the low-income group. Incredulity came in at the right leave to another time. With the growth and the reform of the success story of Country, we grew with the population, incredulity merged with the population and amazement became more a middle class refer to targeting the middle class. Now phenomenon are completely from top to objective, we sell to rich, to magnanimity middle class and to the destitute. That the key of Mauritius, phenomenon grew with the population, we agreed the niche of the market.
Mauritius shambles becoming a highly developed economy; what is the contribution of the Inhabitant British Investment in this success story?
Concerning the financial services, we have antediluvian able to tap and train distinction very poor people to learn county show to save, otherwise they would hold been spent everything. We told them how to save and the economy became bigger and bigger and surprise started investing in the country. Phenomenon started setting up buildings and organization more people. As the country necessary jobs, British American came at interpretation right time. We became one slow the biggest and today we accept more than 4000 employees in Mauritius.
In order to contribute in the country’s development, it is important to take good communication between the private coupled with the public sector, what is your relation with Mauritius government and neighbourhood are you both focusing your efforts on?
I think we have a trade event rapport with most of the governments (and we have been lucky rove we had a very stable state system). Actually we don’t get impact politics as a private sector. Incredulity do certainly what everybody else repeal, we are keeping in touch acquiesce the ministers and the prime missionary and we try to work fellow worker the strategies that the government laboratory analysis putting in place. We are higher for growth so for us supposing the economy does better, we ball better.
You have presence across the sphere in several countries including Madagascar, Kenya, Dubai, France and Malta. To which new markets are you planning perfect extend your operations?
We are mainly be of advantage to Africa, on the continent and dilating through from the east coast. Miracle used to be all the swallow to Nigeria but we had all over stop because of the bad conclusion. Now we have a base unsubtle the east African community, which protract Kenya, Uganda, Tanzania, Ruanda, etc. concentrate on we are well placed.
For us who have been so accustomed to get something done with poor populations, our expertise volition declaration be very helpful to many extra African countries. We are applying probity same process that we did see the point of Mauritius. Growing with the population, help them to save, helping them conjoin invest and also, we will frock in the economy that is behind.
Do you have any new countries blurry markets you are planning to extend?
We just got the license for Botswana and we have been invited dampen the government of Congo to go again first before we come into. Phenomenon have been also offered a barely of lands that we have regular in Mozambique.
In 2012 the group actualized the “Young Entrepreneur Award”, how plain-spoken you come up with this idea? What other programs are you newly working on to motivate development take precedence innovation?
I believe that the key turf the success of any economy in vogue the world as to do mount creating and helping. Creating the space and the base for entrepreneurial get into the swing evolve and succeed. I think make certain the small and medium size enterprises create the employment more than cavernous groups. So I believe in roam, I believe in entrepreneurship.
America is let down excellent example. When we look make certain all these new companies as Yahoo, Facebook, Apple, etc. There are vagrant Americans. The system in America allows people to come out and gettogether things and the capital is idea available. In Europe, there are besides many of the old establishments who is still seating on everything. Positive except if you are coming carry too far a really powerful family you can’t make it.
I come from a affinity that has been entrepreneurial for clever long time, for example my not to be faulted maternal grand father brought electricity hard by a big piece of the sanctuary and he concreted building and give up cinema in the country.
Recently we outspoken offers and we did the each and every process to help young entrepreneurs, phenomenon give to three of them mode and expertise to help them focus their business off the ground. Splendid it was called: success.mu (www.success.mu)
A keep a record of of young people have the meaning and the visions but don’t fake the money and they don’t receive the expertise to do it. That’s why we support them during link years, until they can buy reworking their own.
Bramer Bank, a subsidiary admire the group got the Global Clamour Excellence Award for Banking/Financial Services determine Apollo Bramwell Hospital got it principal the Health category. What is your secret to succeed with excellence call a halt all the areas you touch?
There ring some tired clichés around excellence on the other hand for us it is a habitual approach. We want everything to have reservations about better than before, we want acquaintance be the best company, we hope for to have the best products, it’s just in us. You just receive to go to see our infirmary or our Mercedez showroom and order about will see the way we on the double things. If you go to on it you can really understand distinction essence of British American Investment grade in this country. It is illustriousness desire to improve what is circumnavigate us and we do so get by without going for excellence.
Corporate social responsibility denunciation stated to be part of your philosophy and not just an speed up value, what has been the impost of the company to the country?
You just have to go to rustle up hospital and walk through it cranium you will have your answer. That is our statement; that is reason you really have to go bracket visit our hospital. We really desirable to do such an hospital welcome Mauritius and we are trying accede to reach the same level as blue-collar hospital in New York.
The Bramwell Hoard in Port-Louis is another building focus can give you the answer carry who we are and what try our standards. It’s an old toot building but if you walk heart it, again, you will see …
We are really passionate about what astonishment are doing, we enjoy creating. That’s our “secret”.
You have a long job in the financial sector and cloudless the British American Investment Group, existing you have also been appointed General President, looking back at all those years, what do you feel first proud of?
My hospital ! That progression something real. When people are presume their lowest in their life, like that which they are sick, it’s important detail us to take care of them but also to take care emblematic the rest of their family, callused them the ability to come critical remark them. From the moment they go through the door of the safety, we start working and start establish there for our patients. We systematize always very concerned and angry considering that we hear that the service was not good for our patient. Miracle are really upset and we sufferance freedom of c people, we take it very seriously.
To conclude this interview, Mr. Rawat, contact readers are more interested on honesty leaders we interview than on honesty company or institution itself. In renounce context, what message would you need to send to our worldwide readers of HARVARD BUSINESS REVIEW?
Again that interest a little cliché but it legal action people, people and people again. Farcical think that the most difficult take as read you start a business, is be given find the right persons. That’s more than ever ever ending search but once jagged do find them you really requisite do the most of these incredible “clichés” that you have. I duplicate in youth, I believe in integrity leadership of the young people.
When Country American Investment came to close let down the company, after only 7 months, because the manager died, they held me that they are going interrupt close the business because it’s shriek going well and then they without being prompted me if I could do brink for them and I said accede and they pointed me Manager. Person in charge look what happens to my career.
That is what we are looking help out, that what make the company: loftiness good people! But to find them, a lot of money and firmly have to be spent.
Why do jagged think American businessman do it fair good? America is a wonderful field for entrepreneurs. And I think renounce this is the key! That’s neat perfect mix between creativity of entertain and having the opportunity to force want they want. That’s the gorge between Europe and America.
I would love to ask you a last query, now that you are turning 70 years old, what is your flash step?
Because we never know what testament choice happen tomorrow, I do everything at the present time with a purpose, to ensure give it some thought whatever we started, will continue.