By creating the Club of Monegasque Entrepreneurs in Africa (CEMA) in 2014, the founding members were firstly paying tribute to their enduring links with the continent, their mutual ‘genes’. Their objective is to strengthen these links and to exchange experiences, information and good business practices . More broadly, this thought and action initiative of Monaco-based entrepreneurs in Africa fosters the organisation of bilateral events around prominent African personalities who will share their vision of tomorrow’s Africa.
Two founding members - the president Patricia Jutheau Husson, for ASCOMA, and the secretary general Frédéric Geerts, for ROTHSCHILD MARTIN MAUREL - answer our questions.
How do you choose your members?
Above all they are active representatives of Monegasque companies already established in Africa. Each member represents a business sector, so there is no competition and everyone can open up their network and know-how to the other members. We want to be an agile club that is highly business oriented. Moreover, our trips are always very short - 3 days - but highly focused.
Kinshasa, Abidjan, Dakar and Mauritius… How do you choose the countries CEMA visits?
Everything is decided in a consultative manner. We are a Club of leaders, mainly family businesses. The country is chosen according to the members’ interest, the contacts they have already established there, and the developments motivating them. Each member develops a significant sales turnover in Africa and has a good idea of the local economic, sociological and political structures. The overall turnover of CEMA members exceeds euro 1.6 billion, with 45 African countries “operated in” and branches in over 25 counties.
Let’s take the example of Mauritius, that is not really in Africa…
Mauritius has been chosen for its openness and its dynamism with Africa. It is an interesting trade and investment platform to the African continent; a trading area, investment funds, commercial banks, and even a stock exchange (market capitalisation of euro 11 billion) are based there. Families, several of which are of French origin, head up multi-sectoral conglomerates. In the World Bank "Doing Business 2019" ranking, the island ranks as top country in Africa and is in 20th position in the world.
Do you know the numerical results of your prospecting trips?
We do not have an overall measurement of the turnover generated, but the results of the 20 member companies, after each trip, are very positive.
Beyond business development, is your role also one of representation of Monaco?
That is correct, and it is why we have two patrons we are in perfect synergy with: FEDEM (Federation of Monegasque Businesses) and MEB (Monaco Economic Board). What is more, our trips also entail a “return mission”, therefore we open our doors to companies from the visited countries.
