Fidence Group has announced the acquisition of MITCO Group through its wholly owned subsidiary Hoche Partners Corporate Services, bringing one of Mauritius’s longest established fiduciary and fund administration firms under the umbrella of an Amethis backed international corporate services platform.
The deal, announced on August 27, 2026 in Ebene, strengthens Fidence’s ability to support clients operating across multiple jurisdictions spanning Africa, Asia and beyond.
Inside the Fidence MITCO Mauritius Acquisition
The Fidence MITCO Mauritius acquisition brings together two firms with very different histories but overlapping ambitions.
MITCO has been licensed in Mauritius since 1993 and has built a long standing reputation providing corporate, fiduciary, fund administration and related support services from the island.
Fidence CEO Cornelius Bechtel said the group is confident MITCO will continue to develop successfully within its new shareholder framework, while CIEL Finance CEO Lakshman Bheenick, whose group previously held a majority stake in MITCO, echoed that confidence in the transition.
MITCO will continue to operate from Mauritius, building on its established presence and expertise while gaining access to the broader international capabilities Fidence has assembled across its network.
Amethis Corporate Services Africa Strategy Takes Shape
This deal is the latest expression of an Amethis corporate services Africa strategy that has been building for several years.
Amethis first invested in Hoche Partners Corporate Services in 2024, backing the Luxembourg based firm’s ambitions to grow across major international financial hubs.
That investment set off a rapid consolidation. Hoche Partners merged with Paddock Corporate Services and Paddock Fund Solutions in March 2025 to form Fidence, and the group has continued expanding since, including its acquisition of UAE based CW Partners late in 2025, a deal Bechtel described as initiating the internationalization of the group in major global financial hubs.
Amethis is an impact oriented private equity firm focused on financial, environmental and social sustainability across Africa and Europe, managing more than 1.4 billion euros in assets across more than 40 investments to date.
The MITCO deal extends that platform strategy directly into Mauritius, a jurisdiction that has long served as a gateway for investment flows between Africa and Asia.
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Why Mauritius Fund Administration Acquisition Activity Is Heating Up
Mauritius fund administration acquisition activity like this reflects the island’s position as a financial hub bridging African and Asian capital markets.
Mauritius has built its financial services sector around exactly the kind of fiduciary, fund administration and corporate structuring work MITCO specializes in, offering international investors a regulated, treaty rich jurisdiction from which to structure cross border investments into Africa and Asia.
For a global platform like Fidence, acquiring an established local player rather than building a Mauritius presence from scratch gives it immediate credibility, regulatory licensing and a client book already embedded in the corridors it wants to serve.
The MITCO CIEL Finance Fidence Deal in Context
The MITCO CIEL Finance Fidence deal also marks a notable exit for CIEL Finance, the banking and financial services arm of Mauritius based CIEL Group, which had held a 60.1 percent stake in MITCO group alongside its other financial holdings, including Bank One in Mauritius, asset manager IPRO and private equity manager Kibo Capital Partners.
CIEL Finance and Amethis have a relationship stretching back more than a decade, with Amethis having taken a 17.1 percent stake in CIEL Finance in 2015 as part of an earlier partnership aimed at supporting pure African financial players in their continental expansion.
Amethis has since exited that CIEL Finance position, but this transaction shows the two organizations’ paths crossing again, this time with Amethis backed Fidence acquiring an asset CIEL Finance had built and held for years.
What This Means Going Forward
For Fidence, the MITCO acquisition strengthens its international corporate and fiduciary services platform at a moment when the group has been actively expanding beyond its Luxembourg roots into new financial hubs.
Combined with its earlier move into the UAE, the Mauritius acquisition gives Fidence a more complete footprint across jurisdictions that matter for cross border structuring between Europe, Africa, the Middle East and Asia.
As global investors continue looking for regulated, well connected jurisdictions through which to channel capital into African and Asian markets, consolidation among corporate services and fund administration providers like this one is likely to continue, with platforms like Fidence positioning themselves as one stop providers across the corridors their clients actually use.
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