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Harel Mallac & Co. Ltd., MGI Worldwide CPAAI accountancy network member firm in Mauritius, acquired by Axis Fiduciary Ltd

20th November 2020

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MGI Worldwide CPAAI’s accountancy network member in Mauritius, Harel Mallac & Co. Ltd, is pleased to announce its recent acquisition by Axis Holdco Ltd.

Axis Holdco Ltd, the shareholder of Axis Fiduciary Ltd (“AXIS”), has acquired Harel Mallac Global Ltd (“HMG”) and Harel Mallac Advisory Ltd (“HMA”). The transaction has already received regulatory approval and completed on Friday 21 August 2020. As part of this process, HMG and HMA are respectively being rebranded to Axis Global Ltd and Axis Corporate Services Ltd.

HMG and HMA operated as subsidiaries of Harel Mallac & Co. Ltd, a conglomerate listed on the Stock Exchange of Mauritius, with over 20 years of experience in the financial services sector and services a portfolio of local and international clients. It has valuable expertise in the structuring, setting up and ongoing administration of companies, funds, trusts, foundations, and other legal entities.

Extending international reach

Through this acquisition, AXIS further extends its international reach and network. As a result, the clients of HMG and HMA will henceforth access and benefit from its extensive international network, African presence, bespoke solutions and specialist service levels to the ISAE 3402 Type II standards which will give them the assurance that it adheres to highest international standards.

All the staff being employed by HMG and HMA will join the AXIS team and the management team of AXIS is working collaboratively with the HMG and HMA management to unite them in the AXIS “ecosystem” to ensure a smooth sailing integration of the employees and clients of HMG and HMA into the AXIS philosophy and DNA.

Charles Harel, Chief Executive Officer of Harel Mallac Group commented: “Our priority was to find a trusted and expert partner that would share our business philosophy and be able to enhance our growth ambitions for HMG and HMA, as specialist service providers in Mauritius with an African reach. With this acquisition, HMG and HMA’s clients will benefit from enhanced value to their business and gain from the huge network and experience of AXIS in this sector.  We are very proud of our now former subsidiaries’ achievements. This transaction marks a new milestone for HMG and HMA and we all look forward to the next phase of their growth.”

Assad Abdullatiff, Managing Director of AXIS, commented: “This is a yet another milestone for the firm as it seeks to achieve its vision of becoming the leading Africa-focused fiduciary specialist in Mauritius. It reflects our philosophy and ambition to expand and diversify our business and strengthens our position as a prominent service provider and thought leader on the market. I am excited about the synergies and opportunities that this acquisition will create, and we are looking forward to extending our hospitality, first class service and immediate attention to all the clients and staff of HMG and HMA.”

Our key contacts

The firms key contact for MGI Worldwide CPAAI will be Neeraj Bhogun, Operations Manager and Jaysen Veerupen, Head of Client Accounting and Finance.

Neeraj Bhogun, Operations Manager at Axis: “MGI Worldwide CPAAI, being represented around the globe, provides us with great possibilities to be introduced to other members and benefit from recommendations that can help us in our business.”

Jaysen Veerupen, Head of Client Accounting and Finance at Axis: “We are privileged to be part of MGI Worldwide CPAAI which is one of the oldest network of tax and accounting firms . This will enhance our brand value and enable us to showcase our expertise within a wider network and share knowledge among a broader group.”

For more information contact Neeraj Bhogun at neeraj.bhogun@axis.mu or visit Axis' member profile page or their website.

MGI Africa is part of MGI Worldwide with CPAAI, a top 20 ranked global accounting network and association with almost 10,000 independent auditors, accountants and tax experts in some 460 locations in over 100 countries around the world.

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