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1 silver jubilee magazine Finance Management Development

2 conquer Essentials Moving from basic accounting and audit services, the firm has over the last twenty-five been structured into a Group in order to offer a value proposition to its many clients to include, inter alia, global business management, cross-border corporate finance, socio-economic studies and accounts outsourcing services in three different languages. When you reach the 25-year line and look back it makes no doubt that the route has been quite long with many ups and downs. But when you put together the immense amount of professional work done, the panoply of services developed, the profusion of client satisfaction and the great number of men and women who have put their hands together to keep the flag flying over APPAVOO BUSINESS CENTRE, the clock seems to have stopped for us for some time. Twenty-five seem too short to accommodate all that we have realized! From a meager start on 1 January 1989, the small firm set-up amongst the host of ironmongery shops in the busy Royal Street in Port-Louis has made important strides in the Accountancy profession to become an important player in the business landscape of Mauritius. Built on the premise of a long-term vision for business services which will focus on the needs of its client, APPAVOO GROUP has over the invested in the right mix of knowledge framework, technology, work tool infrastructure and people in order to help its clients start business, grow and flourish. Today APPAVOO GROUP prides itself for having changed the lives of different people: small businesses have been transformed into giant players, business models have been re-invented to adapt to the economic development of Mauritius, and above all, the development of the pool of human capital has been permanent. Employees who have been trained by the Group are now employed in different economic activities and our clients have been given the necessary confidence to take risks at the right time by going to new heights in business and achieve success. While the Group continues its growth in a sustainable manner, it is good to look back at our tremendous achievement This calls for celebration! L. Clensy Appavoo CEO of Appavoo Group This special anniversary edition is the perfect occasion for us to reflect on the strong values built up by Appavoo Group over the last 25. Our determination to add value to our clients businesses, our desire to satisfy them and retain them, and our capacity to adapt to the complex and evolving economic environment of Mauritius since the late 1980 s are the cornerstone of our service offering. From a small accounting firm, Appavoo Group has emerged as a major player today, reckoning not less than 10 business service clusters. The engine of growth of our Group is fuelled by a simple principle: there is no fixed position in business! If you do not continue to innovate and grow, you are sure to stagnate and move backwards. When we decided to go beyond the frontiers of the accounting profession, we have brought together the required expertise to the development of peripheral services capable of answering each and every single need of our clients. Appavoo Accounting & Taxation Business systems & enterprise organisation E-Accounting Payroll Outsourcing Taxation Appavoo Global Business Formation of global business companies Administration International tax planning & structuring Fund management and administration Appavoo HR & Recruitment Payroll administration Human resource management Organisational and human resource audit Recruitment Labour outsourcing The Value Proposition of Appavoo Group HLB Appavoo & Associates Audit Taxation Business Advisory Finance Management Development Appavoo Education Faculty of Accountancy & Finance (FACT) Faculty of Management (FOM) Faculty of ICT (FICT) Training Needs Analysis (TNA) Our goal today is to better manage the communication of our services on a larger scale, mainly through an extended rebranding campaign started in 2012: new visual identity, marketing supports and diffusion channels. A new design for our website is underway and we have enhanced the use of technology in different service areas. We strongly believe that there is no success without risk or setback, and we work every day towards the reinvention of our profession. Appavoo Corporate Corporate recovery & Insolvency practice Business structuring Corporate secretariat Expatriate services Hospitality & real estate development Appavoo Consulting Business advisory Forensic accounting CSR & Corporate governance Corporate finance SME Desk InspiRED Design Studio Naming & Branding Conception & Design Advertising & media planning Communication advisory Marketing advisory 1 2

3 imagine Motion Appavoo & Associates, la première société du Groupe, démarre ses opérations en janvier 1989 avec 3 employés dans un petit local de la capitale. L équipe occupe alors l étage d un bâtiment situé à la rue Royale parmi les quincailleries et propose des services de comptabilité et de conformité, de fiscalité et d audit, ainsi que des services de secrétariat juridique. Appavoo & Associates forge sa renommée grâce à un service d accompagnement personnalisé, assistant ses clients dans chacune de leurs démarches administratives et de mise en place de leurs projets ; ce sont les débuts d un service qui deviendra une pierre angulaire du développement du Groupe Appavoo : le service conseil. Le succès est tel qu en quelques années, la société compte une vingtaine d employés et éprouve le besoin de s agrandir et de se doter d une infrastructure moderne. «C était une équipe jeune et dynamique, encadrée de superviseurs expérimentés. Comme tous les autres, j ai appris le métier sur le tas et j ai eu l occasion de toucher à plusieurs disciplines. On en ressort grandi, c est indéniable. La structure open space du bureau encourageait la cohésion du groupe, la communication, et aussi un esprit de compétition entre les équipes. C était à qui bouclerait ses dossiers le plus vite! Le tout dans une très bonne ambiance.» raconte Mike, aujourd hui responsable d Appavoo Management Services Ltd (comptabilité et fiscalité). En parallèle, la société entame la construction de l Appavoo Business Centre, un immeuble de 7 étages (voir page 4) inauguré le 1 er avril 1995 et qu il faut dès lors remplir. Les services sont restructurés et les équipes étoffées. Un département dédié aux services conseil est mis sur pied, suivi très vite par un service Offshore et un service d Externalisation (BPO). Transformer le développement intellectuel en capital humain Dès lors, le Groupe n a eu de cesse de se développer, notamment par la structuration de ses services de gestion des ressources humaines : création d une agence de recrutement en 2002 et d une école de formation pour professionnels en Plus récemment, le Groupe a ouvert un cabinet d administration judiciaire (Insolvency practice) et développé une cellule d assistance aux expatriés et investisseurs par la mise en place d une plateforme d information en ligne visant à promouvoir la destination Maurice, et dont la promotion a débuté à l échelle internationale il y a de cela quelques mois. Appavoo Business Centre Appavoo Group has never lost sight of the latest developments in terms of management policies and recommendations, technology and information tools, and the long-term vision of the Government. The result of this constant awareness and reactivity is a strong business philosophy built over the to protect our clients interests and lead ambitious projects. Within the walls of the Appavoo Business Centre, we can set up business structures, handle all administrative and compliance back-office work, develop brands and design marketing strategies. We can also handle recruitment of talents, analyse the training needs of clients staff, help them access finance or restructure their business to achieve growth. As a business service Group, we have always aspired to be our clients problem-solving partner The long-term project of Appavoo Group towards a paperless office is launched in 2011, when the Group released its e-accounting platform. To date, 72% of our Accounting & Tax clients have adopted the service and all new clients automatically benefit from it. The immediate results are: optimisation of the e-environment; reduced transport costs; clients keeping their original documents; no more printing & photocopies; no more physical archiving and deterioration of documents. Our Group s policy towards intelligent use of resources has been ever-present in recent, and energy consumption was considerably reduced in all our service operations after gradual investment in new technologies. 3 4

4 influence Drive Adding Value to Business has remained the tagline of Appavoo Group for more than a decade. It was replaced in 2011 by the tagline Conquer which better illustrates the Group s awareness and never-ending search for new disciplines to master. The need for innovation is a principle we try and instil in our clients by providing all monitoring, analysis and organisational tools to induce them in taking calculated risks for their businesses. The chart below details part of the mechanism designed by Appavoo Group to spur business development and growth. Shyam Surat, C.S.K CEO SKC Group We have been among the first clients of Appavoo Group and our business has experienced tremendous growth with the valuable advisory services of the Group. The different consultants, under the leadership of Clensy, have identified opportunities for our business, they have structured our operational model with presence in different countries to make us a leading player in the fruit and vegetable business. We would like to thank the Group for their continuous support and wish them a happy celebration. Moving clients from small business units to giant players is what we do Antonio Maurer Director Chez Popo The landmark collaboration with Appavoo Group has been the transformation of our small mini market into a supermarket on the coastal road of Trou-aux-Biches. Besides high-level consultancy services, we continue to draw enthusiastic benefits from the Group in fiscal, advisory, audit and assurance works. A. Alain Arca PDG AAA Groupe Lorsque nous avons approché le Groupe Appavoo dans le cadre du projet de développement d un parc hôtelier à l île Maurice, mon associé et moi-même avons été séduits par le service de proximité et l enthousiasme dont est empreinte la société dans la conduite des affaires. Nous avons développé une relation de confiance avec le Groupe et nous sommes heureux de continuer à travailler avec eux au développement de nouveaux projets, mais aussi d une vision pour l île Maurice. Nous souhaitons un bon anniversaire au Groupe et à ses équipes! Paul Clarenc Director Moroil J ai eu le plaisir de faire la connaissance de Clensy Appavoo il y a quelques années seulement. Et depuis, nous avons collaboré dans des domaines des plus variés, allant d un projet immobilier aux relations industrielles (MEF), en passant par la formation chez Moroil. En plus du professionnalisme et de la compétence, ce sont la disponibilité et le service personnalisé que j ai surtout appréciés chez Clensy et l équipe d Appavoo Consulting. Joyeux anniversaire, bonne continuation et longue vie au Groupe Appavoo. Purmanund Hardas Director Hardas Brothers Enterprise Our family business was among the first clients of Appavoo Group. At the time, we were involved in sugar cultivation, and the Group identified the opportunity for us to change business line. 25 later, our company is one of the main producers of eggs and poultry in Mauritius, starting from grassroots level. We are proud to be a client of Appavoo Group and to rely on the various fields of expertise under one roof. 5 6

5 Mould agility Crossing International Borders A macro-economic study on poverty in Mauritius commissioned by the European Union was the first major consultancy assignment undertaken by Appavoo Group in 1998, and it has served as a landmark assignment which has projected Appavoo Group on the international scene. The Group was then invited to participate in numerous Consultancy projects abroad and it was the opportunity to work alongside inspiring communities and other professionals. In 1999, the Group was appointed to conduct a highlevel international feasibility study for the construction of a living area for a Zulu community at the heart of KwaZulu Natal, province of South Africa. Building up community living Evènementiel Lorsque le Groupe Appavoo obtient le contrat de gestion et de comptabilité du Cirque Roger Lanzac pour sa venue à l ile Maurice en 2004, c est le branlebas de combat. Obtention des licences, gestion de la billetterie, recherche de sponsors et négociations de points de vente, préparation et distribution de tracts et lancement de la campagne de promotion ; toute l organisation de cet évènement est prise en charge par le Groupe, et la comptabilité est tenue au jour le jour dès le début des opérations, et ce durant des semaines. Au terme de ce marathon, toute l équipe est invitée à profiter elle aussi du spectacle. Représentation du cirque Roger Lanzac Recognition In 2006, Clensy Appavoo is nominated for the TECOMA Entrepreneur of the Year Award. Although he did not win the prestigious trophy, the nomination rewarded 17 of hard work and achievements for this devoted entrepreneur and for the Group which he has led to the forefront of the Mauritian economic scene. On April 6, 2011, Clensy becomes the 27 th President of the Mauritius Employers Federation (MEF) for a twoyear term, and in 2012, he spearheads the celebration of the 50th Anniversary of the Federation. Place aux festivités La fête de fin d année du Groupe Appavoo est un évènement auquel sont conviés chaque année tous les employés du Groupe et leurs conjoints. L occasion pour tous de se retrouver dans un cadre festif et de célébrer ensemble la fin d une année laborieuse et l avènement d une année nouvelle. Une équipe est d ores et déjà à pied d œuvre pour les préparatifs des activités de cette fin d année qui promet de bien belles surprises à tous nos collaborateurs. Hon. Shakeel Mohamed, Minister of Labour, and Clensy Appavoo during the MEF 50th anniversary ceremony. Clensy was also the Honorary Consul of the Republic of Congo in Mauritius from 2002 to Fête de fin d année Blue Lagoon & White Sand A Social Dimension With the advent of the gradual integration of business with society in Mauritius, the Group has not spared any occasion to contribute to the well-being of the poor and the most vulnerable communities. We have offered free advisory and audit services to various NGOs and Appavoo Group is a founder member of Morisiens Sans Frontières, an association which offers medical assistance to underprivileged children. We have also participated in the setting-up of the MEF CSR Fund which offers the opportunity to businesses to entrust the MEF with their social contributions to fund major social projects. Our children. Our future Bridging Business Cultures Before joining Appavoo Group, I have been working in the busy City of London as an Accountant in different business environments. Coming to an Island was a real challenge for me apart from the many good things which have motivated my move and which made me opt for a one-way ticket. I learned French in Mauritius and have been working with Appavoo Group as a Business Development Director which has made me focus on the Group s philosophy: Customer Centricity! Every effort is done to nurture customer confidence and I have learned that customer relationship is much more important than making a sale. The rigour and discipline at work, the team spirit, the marketing approach, were all very close to the British business culture and I did not feel to be a fish out of water. I have had the opportunity to see the active participation of Appavoo Group on the international scene as a member of HLB International and this has been a very rich experience for me. I wish the Group happy celebrations and many of success to come! Monica Appavoo 7 8

6 hlb appavoo & associates hlb international When Appavoo & Associates obtained its affiliation with HLB International in 1996, it became the network s member firm in Mauritius and changed its name to HLB Appavoo & Associates. Present in over 100 countries, HLB International has developed a comprehensive range of services and expertise, servicing multi-national clients across all industry sectors. The network has assisted us in securing contracts for major consulting works and national tenders by providing cross-border contacts and expertise. The experience acquired through such collaborations has been hugely beneficial for all people involved and has helped us forge strong organisational capabilities. In fact, this affiliation has hasten the development of new services, and today HLB Appavoo & Associates, as an Audit Firm, is equipped to create value for its clients and act as a multi-disciplinary advisor. Spurred by a customer-centric approach and guided by a long-term business vision, HLB Appavoo & Associates has fostered the development of other service companies within the Group. Appavoo Management Services, Appavoo Corporate, and Appavoo Consulting, are three sister companies of HLB Appavoo & Associates which have benefited from the latter s experience and network to develop and structure their services. One of the publications of HLB Appavoo & Associates is the Doing Business in Mauritius booklet, which is updated regularly for the use of clients, partners and staff of other HLB International member firms. A free copy (French or English) can be obtained at our premises or from our website. Stand of Mauritius during HLB Annual Conference held in Saigon, Vietnam in 2007 Congratulations to Shaheenaz Goulvaden (right), Audit Senior at HLB Appavoo & Associates, for coming first in ACCA (paper P7) in Mauritius in HLB s perspective is strengthened by an international corporate identity, projecting a consistent and distinctive image worldwide. Fully aware of the importance of Africa as the final growth frontier, HLB International has structured a Middle East and Africa (MEA) Federation of firms since The objective is to strengthen the activities of HLB firms in the region and increase the visibility of the HLB brand. The upcoming MEA Conference in November 2013 to be held in Dubai will focus on strategies to further develop the network s presence in Eastern, Southern and Central Africa. Indeed, HLB International applies a rigorous selection process for prospective member firms, which includes due diligence procedures and a quality assurance review comprising an assessment of the prospective firm s ability to service companies with international operations. In 2013, HLB International has appointed top firms in Bahrain, Qatar, Egypt, Niger, Senegal, Ivory Coast, Guinea-Bissau, Mali, Togo, Benin and Eritrea. Already, a number of prospective firms have been earmarked to join the network in 2014, with presence in Kenya, Uganda, Tanzania, Mozambique, Cameroon and Central Africa. Commenting on the 25th anniversary celebration of HLB Appavoo & Associates, Rob Tautges, CEO of HLB International, stated: «We are delighted to be associated to the silver jubilee of HLB Appavoo & Associates, a firm who joined the network in 1996 and has grown substantially over the. We wish the firm plenty of success ahead, and particularly in its endeavours to service clients on the African Continent along with other HLB firms.» HLB International s network is present in more than 100 countries in the world. Formed in 1969, HLB International is a world-wide network of independent professional accounting firms and business advisers focused on quality and personal service. The network comprises member firms in over 100 countries who collectively have 1,800 partners and 14,000 staff in over 500 offices across all continents. HLB member firms are well-established independent firms of high local standing, who have developed their practices on the basis of their strong local knowledge and contacts, with many firms ranked among the top twelve nationally. Close contact is maintained between members through international referral engagements, regular meetings, bulletins and news flashes from the central office and through the use of a global intranet. Appavoo Group provides various investment solutions to businesses and promotes Mauritius as the ideal platform for investment into Africa. 9 10

7 soul Parvatee Dawonauth Parvatee started as a DPO in 1993 and is one of the most experienced of our Accounting & Tax staff. As an Accounts Coordinator, Parvatee is in charge of a team of Accounts Preparers and she remains a stalwart of Appavoo Management Services. Mike Dhacoo Mike started as an Audit Junior in He gradually picked up management skills and became an Accounts Supervisor, before moving further up the career ladder. He is now the COO of Appavoo Management Services and has been a key figure in the design and implementation of our e-accounting services Sheila Legallant Sheila joined Appavoo Group as a Receptionist in She has been the mirror of the Group and has met numerous people who have gone through Appavoo Business Centre. She endows the Group s rigourous communication culture and is a key staff in the coordination with clients. Vimala Aroonasalon Vimala joined the Group as a Data Processing Officer (DPO) in 1993 and she had the opportunity to manage a team as Senior DPO for numerous. Her experience and knowledge of the Group has been a decisive factor in her appointment for the job of Personal Assistant to Managers of Appavoo Management Services and HLB Appavoo & Associates which she occupies today Lourdes Chavagnan Lourdes is the Senior Office Attendant and she has been taking care of our place of work over nearly two decades. She has seen many faces in view of the host of employees who have worked and obtained training in the Group. Faeza Yeadally Khan Faeza joined the Group in She heads the Dun & Bradstreet department and participates actively on a day to day basis in financial research. She obtained a Correspondent Diploma from the D&B UK Office in 2003 and was named D&B Accredited Correspondent since then. She also plays an integral role in Appavoo Corporate as well as in the Group s Insolvency Practice. 12 Sehzad Bauboo When Sehzad applied for his first job in 2001, he did not yet imagine the career he would have with us. After a successful start as an Audit Junior, Sehzad climbed to the post of Supervisor in 2009 and was responsible of a team of 10 people. The following year, he became Assistant Manager, then Manager of HLB Appavoo & Associates in 2012, after his achieving professional qualification as an ACCA member

8 If you have the will, your strength will be to the level of your dream. Si tu as la volonté, ta force sera à la mesure de ton désir. Head Office Appavoo Business Centre 29 bis, Mère Barthélemy St, Port Louis, Mauritius T (230) F (230) accounting & tax corporate global business hr & recruitment consulting education

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