Share
We are a non-banking financial institution that develops innovative integrated consumer and business products and services, for less privileged communities or for small and medium businesses, which require flexible solutions to improve their quality of life and grow their activities. We have the ability to uplift lives and build better futures. A housing Credit Facility can help empower individuals to enhance their families’ comfort build homes for their families; a business Credit Facility can create job opportunities for thousands….
We recognise we have obligations to multiple stakeholders and strive to consistently deliver value to all of them. We believe that dealing with financial services is more than just being a commercially-centred enterprise. We are committed to the philosophy of doing the right thing for our customers and seek to positively help assist the communities we are present in, and deliver social value. Our services are created to be low cost, easily accessible, disruptive to traditional practices and amazingly simple to use. Our local expertise coupled with our technologically innovative framework, means we are perfectly placed to develop new products that meet the unique needs of our growing customer base….
CIM Financial Services Ltd, trading as Cim Finance, is the largest non-banking financial institution in Mauritius. It is regulated by the Financial Services Commission, listed on the Official Market of the Stock Exchange and is licensed as a Payment Service Provider with the Bank of Mauritius to conduct payments activities. Driven by its mission to uplift their lives and build better futures, Cim Finance has developed a wide range of flexible financing solutions suitable for individuals, SMEs and large businesses. The group has over 800 employees across Mauritius, Rodrigues and Kenya and operates across two main clusters namely; the Finance cluster and the Investment cluster.
Finance Cluster
Cim Finance initiated its Consumer Finance activities in 1987 and now offers credit finance solutions for the acquisition of products and services as well as unsecured credit facilities with flexible repayment periods.. A network of over 100 retail Points of Sale and 700 authorised merchants support its Consumer Finance activities across the Mauritius and Rodrigues.
Over the years, Cim Finance continued to strengthen its digital capabilities, as evidenced by the innovative products and services it has launched: a behavioural credit scorecard, designed to make more accurate data-driven decisions, a user-friendly mobile app to enable remote payment, a WhatsApp service for credit applications, a Digital Lending Ecommerce solution, the first of its kind in Mauritius, which fully integrates into a merchant-partner’s e-commerce website.
Cim Finance offers acquiring services for Visa, MasterCard and Union Pay and issuing services for Visa and MasterCard. Cim Finance is the first non-banking financial institution in Sub-Saharan Africa to be a principal member of Visa, and MasterCard. Through its partners, it also offers merchants across Mauritius a comprehensive range of acquiring solutions that can be customised to their unique needs.
In collaboration with Mauritius Union Assurance, Cim Finance has developed a credit protection plan, designed to protect its customers against unforeseen circumstances. This service is available for all credit purchases made through Cim Finance.
In 1996, Cim Finance became the first player to introduce leasing activities in Mauritius, through which individuals, entrepreneurs, SMEs and large corporations can lease vehicles and equipment. In 2021, Cim Finance pioneered a Green Lease scheme to support and encourage the purchase of environmentally friendly vehicles and equipment at attractive interest rates. In line with its strategic intent to complement its current portfolio, Cim Finance acquired Tsusho Capital (Mauritius) Limited in 2022, a company engaged in vehicle leasing on the Mauritian Market since 2009.
True to its spirit of being a forerunner in its industry, Cim Finance introduced recourse Factoring services to Mauritians in 2004. Over the years, it has evolved its offering to include non-recourse and international factoring—all aimed at helping businesses improve their cash-flow so they can, focus on growing their business. Underpinning these operations is a state-of-the-art platform, Aquarius, which delivers the capabilities, insights and customer service required to meet the fast-growing demand for factoring.
Investment Cluster
Cim Finance’s first entry into the African continent was through Kenya, where it set up Aspira, a wholly owned subsidiary operating in the Hire Purchase segment. Launched in 2018, Aspira’s mobile app offers Kenyan customers a quick and convenient way to apply for credit and obtain information on their loan status and payment updates —all through their iOS or Android smartphone.
In a move that combines its ambitious SME Strategy and Digitalisation Strategy, Cim Finance acquired a minority stake in Fundkiss, the first peer-to-peer lending platform in Mauritius. Through this strategic investment, Cim Finance is able to reach a greater number of SMEs and play a meaningful role in their growth so they can serve their purpose as major engines of the Mauritian economy.
Launch of the first Green Funding Programme in Mauritius
Acquisition of Tsusho Capital (Mauritius) Limited
Launch of the Video KYC facility
Launch of WhatsApp for Business
Launch of Green Lease
Investment in Fundkiss
COPYRIGHT © 2023 CIM Financial Services Ltd | Disclaimer | Data Privacy Statement
Brand online by Nova Interaction