Cim Finance continued to grow as a resilient business that remains very relevant to the needs of households and businesses across the island. The financial year 2022 was marked by major strategic milestones, as well as profound and meaningful changes that will enable us to be a driving force for inclusive and sustainable growth.

We operated in a challenging environment, with strong recovery in most industries, spurred by the tourism industry getting back on its feet; yet, the many uncertainties related to the pandemic continue to linger. The war in Ukraine came as an unexpected and unwelcome threat, with economic ramifications for the world. In Mauritius, we have been witnessing a sharp rise in the price of commodities and food, a trend that is expected to worsen and last well into next year.

Once again, Cim Finance played its full part in this recovery by supporting all players, whether large corporate clients, small businesses or individuals. In light of the rising cost of living, which is impacting households and businesses alike, we remained, and continue to remain, highly attentive to the needs of our customers, working closely with them to provide tailor-made solutions for different socioeconomic circumstances. We balance this with our responsible and prudent lending practices to safeguard both ours and our customers’ best interests.

Extract of the ‘’Discussions with the Group CEO’’ section.

The year in context

Over the past financial year, the effects of the pandemic continued to roil the world and the global economy. Mauritius, for its part, continued to operate in a very volatile socioeconomic environment. On the one hand, the tourism sector remained at a standstill until October 2021, with adverse ripple effects across many other industries. On the other hand, we saw encouraging signs of recovery in construction, financial services and manufacturing, with businesses learning how to adapt to the ebbs and flows of supply chain challenges and consumer demand. Whilst we emerged safely from a sanitary crisis, it was only to be faced with rising inflation and the war in Ukraine, both of which are causing food and commodity prices to escalate and are likely to further threaten employment and livelihoods.

Amid this maelstrom, Cim Finance maintained its positive growth momentum and delivered an excellent financial performance. Our figures, shared in greater detail by our Group CEO in his interview, speak for themselves. This has enabled us to continue creating long-term value for our shareholders through sound returns. The Board declared a final dividend of MUR 0.24 per share for the financial year, a healthy pay out given the operating environment.

Extract of the Interview with the Chairperson

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