CFSL Integrated Report 2021

20 C I M F I N A N C I A L S E R V I C E S L T D moratoriums and payment deadline extensions with no penalties. Our CEO explains our SME-focused initiatives more thoroughly in his message on page 31. The pandemic was a major turning point for entrepreneurship. During the year, we witnessed the surge of one-person businesses as they sought to meet new needs born out of the crisis. Having forged strong relationships with small business owners over the years, Cim Finance is uniquely positioned to assist emerging entrepreneurs who may lack the skills or resources to succeed. Moving forward, our objective is to stand by them as a long-term trusted financial partner and empower them to take their business to the next level. That being said, despite a strategic refocus on the domestic market, we are still pursuing our ambitions to become a regional player. After launching a Fintech-enabled Hire Purchase model in Kenya last year, the country was hit by the devastating impacts of COVID-19. Operating overseas comes with its own share of challenges, and we believe slow and steady wins the race. Kenya, to us, is a medium to longterm play and we intend to pursue this expansion prudently and strategically. Our regional strategy also complements the country’s vision of positioning itself as an uncontested player in the Indian Ocean. Our community and the environment We have always maintained that we are part of the larger social fabric. If societies do not succeed, businesses—ours included—will invariably fail. Cité Cim is, in a way, our flagship project and a reflection of our long-standing commitment to uplift our communities. Beyond the contributions we make annually through the Cim CSR Fund (more information on pages 52 to 55, we have spent the last three years making a real difference and measurable progress in this neighbourhood. During the year, we completed the second phase of the renovation of houses for five beneficiaries, who now enjoy a better housing situation. Coupled with the Literacy Programme and bakery project implemented last year, we aim to bring together all the elements needed to make Cité Cim a resilient neighbourhood where community members are givenmeaningful opportunities to better their lives. The Environment, along with Education and Engagement, is another one of the pillars of our CSR strategy. We made strides towards developing a Green Lease, an initiative that offers lower, more attractive interest rates to consumers who opt for fuel-efficient vehicles. In doing so, we seek to encourage Mauritians to shift to more climate-friendly vehicles and contribute to a more sustainable Mauritius. Our shareholders In a context where the odds were stacked against us, Cim Finance performed well from a financial standpoint. Although our focus is not only on our bottom line, we aim to create long-term value for all our stakeholders, and this includes our shareholders. After careful consideration, and based on our 202021 results, we decided to declare dividends of MUR 0.20. I believe our strong financial performance is the result of a combination of factors: • Thanks to our business continuity plans, investments in digitalisation and a flexible workforce, we kept our business running smoothly. • Our business was able to maintain a strong liquidity position through the initiation of a bond programme designed to cater for the impacts of the pandemic. In fact, we stood out as one of the few companies in Mauritius to have maintained our AA rating despite the challenging circumstances. This should provide comfort to our investors looking ahead. • Each individual, each department within the Group rose to the occasion and fulfilled its responsibilities in a way that kept the organisation operating like a well oiled machine. From HR and Finance, to our messengers and drivers, I am beyond impressed at the willingness of our team members to embrace new ways of working. • The amalgamation of our five subsidiaries into one united Cim Finance. This simpler and more nimble structure has broken down the silos between our various departments and fuelled the sharing of knowledge and skills across our teams. We are now well positioned to ensure a consistent level of service excellence, and a strong culture, throughout our organisation. C H A I R P E R S O N ’ S M E S S A G E A Message from our Chairperson (continued)

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