CFSL - Annual report 2018

CORPORATE SOCIAL RESPONSIBILITY (CSR) CIM CSR’S FRAMEWORK Cim’s CSR strategy is underpinned by the desire to make a positive impact on the lives of less privileged members of society. We aim to achieve this not only by contributing money to worthwhile causes but also by encouraging our staff to participate in the CSR efforts of the Group. The Group’s subsidiaries channel their individual CSR contributions to the Cim CSR Fund Ltd, a not-for-profit company limited by guarantee created to administer the Group’s CSR spend. This entity allows for a more efficient management of Cim CSR’s activities and ensures that a proper governance process is followed by having the Board of directors of the company approving the projects. The day-to-day management of CSR activities of the Group is handled by a full-time employee whilst accounting and company secretarial support are provided by the shared services arm of the Group. FOCUS AREAS With a view to being more impactful and at the same time helping as many beneficiaries as possible, Cim concentrates its CSR initiatives in the following three “E’s “areas: 1. Engagement 2. Education 3. Environment For the financial year 2017/2018 an amount of MUR 5.5m was spent on social activities through Cim CSR whilst 50% of the Group’s CSR funds were remitted to the MRA in accordance with the law. >> Launch of a National Drug Prevention Program in secondary schools 37 CIM FINANCIAL SERVICES LTD ANNUAL REPORT 2018