During the year, we continued to strengthen our governance practices and processes. In July 2023, we welcomed a new member to our Board of Directors, Sharona Ramdoss, who brings 15 years of invaluable experience in financial services and whose unique insights will no doubt enrich our strategic discussions. Additionally, Sharona has been appointed to the Audit and Compliance Committee, contributing to a committee now composed of a majority of independent directors. What progress has the Group made in delivering on its environmental and social commitments? At the heart of CFSL’s activities lies an unequivocal mission to become a sustainable and impactful company, more so as the effects of climate change become increasingly pronounced. We believe that we have both the responsibility and capabilities to pioneer solutions that are better for the planet and people, and I am proud when I look at the progress made from this standpoint. The first Green Bond we issued in 2022, earmarked exclusively for environmental and community-driven projects, marked a groundbreaking stride towards sustainable financing. More recently, in October 2023, we made history as the first company to raise and list green bonds on the SEM’s Official Market, of which MUR 5 million were traded on the very first day of listing. In the aftermath of our initiatives, we are not only seeing a noticeable shift in Mauritius towards electric mobility and responsible consumption, but above all, we are pleased that our customers are selecting CFSL as their preferred partner to help them make more impactful and responsible purchasing decisions. As we work towards making our own operations greener through digitalisation, we are equally intent on improving our climate-related governance practices, excluding enhanced disclosures. Our community initiatives are grounded in the profound understanding of the symbiotic connection between our operations and the wellbeing of the communities we are privileged to be a part of. We pursued our social uplifting programme, making measurable progress in our flagship project in Cité CIM by completing the construction and renovation of 25 houses for vulnerable families at the cost of MUR 21 million, further demonstrating our commitment to making a positive lasting impact in the communities we serve. We are also very pleased with our collaboration with the UNODC and the Government to launch Family UNited, a three-day training programme designed to tackle the pervasive issue of drug abuse on the island. Sixty social workers received training in parenting knowledge and family practices, led by experts from Vienna. The objective is for these trained professionals to impart that knowledge to parents, empowering them in turn to create a healthy environment for the wellbeing of their children. What are CFSL’s priorities for the coming year? As we turn the page on another financial year, we expect volatility, interest rates and inflation to persist. In this environment, consumers and businesses alike will likely grapple with the increasing cost of living. As is customary at CFSL, we are closely monitoring the dynamic operating environment to stay ahead of potential disruptions and remain attuned to the evolving needs of our customers. Despite these uncertainties, we are confident in our strategies and approaches, which have proved their mettle and served us well in the recent past. We intend to continue making thoughtful and targeted investments in our core business, in technology and in our human capital, while continuing to explore regional opportunities to cement our foothold in Africa. As we chart our responsible course ahead, we eagerly anticipate more traction in the financing of environmentally sound and sustainable projects, which will play a pivotal role in steering the island towards a net-zero economy. Do you have any closing remarks or special acknowledgments? My biggest thank you goes out to Cim’s 1000 employees. Within our team, each employee is regarded as an integral piece of a larger whole, with unique skill sets, ideas and contributions. Each individual effort, no matter how seemingly small, has come together to create a unified force that has propelled us forward in our pursuit of a higher purpose. I would also like to express my gratitude to the management team for exemplifying remarkable leadership and strategic foresight under the guidance of our Group CEO Mark van Beuningen. I am confident that the inspiration derived from our leaders will continue to drive excellence and innovation in all facets of our organisation. To my fellow Board members, thank you for the insightful considerations that you bring to our Board deliberations, and for setting a strong ethical culture within CFSL. Lastly, I am sincerely thankful for the ongoing support of our shareholders. Your trust in our vision and strategies has been a beacon inspiring us to explore new horizons and create value in innovative ways. We remain dedicated to upholding the standards that have earned your confidence. Aisha Timol Your Chairperson 17 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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