It is impossible to start this review without mentioning the COVID-19 crisis that has shaken the very foundations of the world as we used to know it. Cim, similar to other companies, has not been spared from the effects of this crisis. Our priority during the year under review has thus been to support our clients so that they can weather the storm.

Accordingly, we implemented several schemes such as a grace period so that clients would not be penalised for any payments missed during the lockdown period, a rescheduling scheme which offered clients the possibility to re-arrange their credit facilities where they have been impacted by the COVID-19 crisis, and more recently the Wakashio oil spill and we launched a revitalised version of the Cim SME Factoring Scheme.

More than ever, businesses cannot be impervious to the needs of the communities that they operate in. In this time of crisis and in addition to our ongoing CSR initiatives such as the Housing project at Cité Coeur Immaculée de Marie and the Get Connected Drug Prevention programme, Cim has launched a ‘Job Support Programme’ for the benefit of its clients who have lost their jobs due to the pandemic.

In partnership with local recruitment agencies, we assist such clients to build and upload their profiles on the job recruitment platforms and help them prepare for interviews. We sincerely hope that this initiative will be of aid to our clients in finding new jobs as quickly as possible.

Extract from CFSL’s Integrated Report 2020 – Chairperson’s Message

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