ER Group

What ER Group does

ER Group is a Mauritian publicly listed conglomerate (SEM:ERL) formed in 2025 through the merger of ENL and Rogers Groups, combining over 200 years of combined history. Headquartered in Moka, Mauritius, the group operates across seven business segments: Agribusiness (ER Agri, Agrïa), Real Estate (ER Property, Ascencia), Hospitality and Travel (ER Hospitality, ER Aviation, Beachcomber Group), Logistics (Velogic), Finance (Rogers Capital), Commerce and Manufacturing (ER Commercial), and Technology and Energy (Rogers Capital Technology, Ecoasis). The group employs over 12,000 people, manages more than 120 brands, and operates across 17 territories worldwide, with a stated objective of growing international revenue contribution from 15% to 30% over the coming decade.

The group generates revenue through a hybrid model spanning consumer-facing operations (Beachcomber resorts, ER Property, retail agribusiness products), enterprise B2B services (Velogic freight forwarding, Rogers Capital investment banking and capital markets, ER Aviation general sales agency), and infrastructure/asset businesses (Ascencia commercial property, Ecoasis renewable energy). Reported H1 FY26 revenue of MUR 23.2 billion and EBITDA of MUR 6.4 billion imply an annualized run-rate near USD 1.0 billion, with nine-month profit up 22% year-over-year. Strategic minority investments in Eclosia, Semaris, Swan, FRCI, and Superdist extend the platform across distribution, insurance, and technology services. Distribution is executed through direct enterprise sales, regional offices including a new East Africa hub in Nairobi, and dedicated corporate marketing channels including investor relations and sustainability reporting.

Name

ER Group

Legal name

ER Group Limited

Website

https://enl.mu

Company type

Public

Founded year

2025

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ER Group is a Mauritian publicly listed conglomerate formed in 2025 via the ENL and Rogers merger, operating 120+ brands across agribusiness, real estate, hospitality, logistics, finance, commerce, and technology with 12,000+ employees in 17 territories.

Ownership category

akta.pro rank

Headquarters

HQ city

Moka

HQ country

Mauritius

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Agribusiness: Revenue from agricultural operations including ER Agri and Agrïa brands
2. Real Estate: Property development and management through ER Property and Ascencia
3. Hospitality & Travel: Hotels, resorts, and aviation services through ER Hospitality, ER Aviation, and Beachcomber Group
4. Logistics: Logistics and supply chain operations through Velogic
5. Finance: Financial services through Rogers Capital including investment and capital markets activities
6. Commerce & Manufacturing: Commercial and manufacturing operations through ER Commercial
7. Technology & Energy: Technology solutions through Rogers Capital Technology and renewable energy through Ecoasis

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

ER Group is a Mauritian listed diversified conglomerate operating across seven business segments: Agribusiness, Real Estate, Hospitality & Travel, Logistics, Finance, Commerce & Manufacturing, and Technology & Energy. The group manages 120+ brands across 17 territories with 12,000+ employees, offering agricultural products, property development and management, hotel and resort operations, aviation services, freight forwarding, financial and investment services, and renewable energy solutions.

Product overview

ER Group is a diversified Mauritian listed conglomerate formed in 2025 through the merger of ENL and Rogers Groups, operating a platform-plus-sub-brands architecture across seven business segments: Agribusiness (ER Agri, Agrïa), Real Estate (ER Property, Ascencia), Hospitality & Travel (ER Hospitality, ER Aviation, Beachcomber Group), Logistics (Velogic), Finance (Rogers Capital), Commerce & Manufacturing (ER Commercial), and Technology & Energy (Rogers Capital Technology, Ecoasis). The group also holds strategic investments in Eclosia, Semaris, Swan, FRCI, and Superdist. With over 120 brands operating across 17 territories and 12,000+ employees, the portfolio spans consumer-facing brands, B2B services, and infrastructure businesses unified under the ER Group parent company.

Differentiator

Problem solved

Functional benefit

Brands

• ER Agri: Agribusiness operations segment of ER Group
• ER Property
• Ascencia
• ER Hospitality
• ER Aviation
• Beachcomber Group
• Velogic
• Rogers Capital
• ER Commercial
• Rogers Capital Technology
• Ecoasis

Products and services

• ER Agri Agricultural operations brand under the Agribusiness segment of ER Group, focusing on agricultural production, processing, and distribution.
• Agrïa
• ER Property
• Ascencia
• ER Hospitality
• ER Aviation
• Beachcomber Group
• Velogic
• Rogers Capital
• ER Commercial
• Rogers Capital Technology
• Ecoasis

Segments7 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• EclosiacoreOthersEclosia is listed as a key investment of ER Group alongside Semaris, Swan, FRCI, and Superdist
• SemariscoreOthersSemaris is listed as a key investment of ER Group
• SwancoreOthersSwan is listed as a key investment of ER Group (Swanforlife.com)
• FRCIcoreOthersFRCI is listed as a key investment of ER Group (frci.net); also developed ER Group website
• SuperdistcoreOthersSuperdist is listed as a key investment of ER Group (hiperdist-io.com)

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Bidvest Group: South African listed conglomerate with interests in distribution, logistics, financial services, and property. Compares to ER Group on the diversified-services-plus-logistics architecture and public-listed conglomerate governance.
• Sanlam: Pan-African financial services group with diversified offerings including insurance, asset management, and wealth management. Most relevant for the Rogers Capital financial services and wealth management segment of ER Group.
• Aspen Pharmacare Holdings: African-listed diversified healthcare and consumer products conglomerate with international operations. Comparable to ER Group as a public-listed conglomerate with an African base expanding across multiple territories.
• Tata Group: One of the world's largest listed conglomerates spanning steel, autos, IT services, hospitality, financial services, and consumer brands. Useful as a benchmark for the upper-bound valuation framework of a multi-segment listed holding-company architecture of the type ER Group is building.

Direct peers

• Alteo Limited: Mauritian listed conglomerate with operations in agribusiness (sugar), real estate, energy, and branded consumer goods. Directly comparable to ER Group in the agribusiness plus property plus energy intersection.
• CIEL Group: Mauritian-listed holding company with diversified operations across textiles, financial services, healthcare, and real estate. Comparable to ER Group as a diversified Mauritian group operating through subsidiaries across unrelated industries.
• IBL Limited: Mauritian-listed diversified conglomerate with interests spanning seafood, life sciences, financial services, logistics, and real estate. Closely comparable to ER Group in structure (multiple segments, Mauritian listed, regional expansion) and serves as the most natural direct peer.
• Sun Limited: Mauritian hospitality and tourism group operating luxury resorts. Comparable as a Mauritius-headquartered listed group with tourism concentration, partially overlapping ER Group's Hospitality & Travel segment via Beachcomber.
• Harel Mallac & Co. Long-standing Mauritian-listed conglomerate with diversified activities across trade, technology, real estate, and financial services. Similar multi-segment listed holding structure to ER Group, focused on the Mauritian economy.

Regional players

• John Keells Holdings: Sri Lankan-listed conglomerate operating across transportation, leisure, real estate, consumer foods, and financial services from a small-island Indian Ocean economy. Comparable business model to ER Group as a diversified holding anchored in a single small-island jurisdiction.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/enlgroup
• Xx.com/ENL_group

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ER Group