Could you share the most noteworthy developments across CFSL’s Consumer Finance activities? I am pleased to share that we sustained growth across all our business lines and ventured into new segments, reflecting both the resilience of the Mauritian economy, and an operational performance fuelled by purpose and innovation. The Consumer Finance segment continues to be the biggest contributor to our bottom line, driven by an impactful digital transformation journey that has reshaped our capabilities, redefined customer experiences and broadened access to financial resources. The pursuit of digitalisation in all facets of our organisation also stands as an important driver in our growth plans. Digital technologies have not only revolutionised how we work as a team and delivered important productivity gains, but they have also proved their worth as an invaluable tool to realise cost savings and elevate customer experience. We have continued to innovate through our digital offerings in our MoFinans App, which now counts over 70,000 active users. As mentioned previously, we also launched an in-app digital MoCredit loan facility, in addition to a host of new customer service features. The ‘Cim Paye Ta Mensualité’ initiative, a monthly Facebook game, played a part in this success as it offers customers the chance to qualify for a MUR 5,000 deduction from their installments when making payments through IPS on MoFinans. How did the Leasing segment perform, especially since the acquisition of Tsusho Capital by CFSL? We have a firm resolve to continue to be the leader in the Leasing segment in Mauritius. With the amalgamation of Tsusho Capital (Mauritius) Ltd into CFSL, we strengthened our in-house presence across dealerships in the country, that include Toyota, Mercedes Benz, Volkswagen, Suzuki, HINO, FUSO in addition to our existing partners Hyundai and Volvo. We cemented our position as the market leader in green leases for electric vehicles and plug-in hybrids, funded through our Green Bond programme. All these initiatives, as well as the excellent customer service delivered by our Leasing team, helped us double our leasing volumes compared to the previous financial year. Additionally, we developed a new vehicle insurance proposition in partnership with major players on the market, including MUA, SWAN, SICOM and Jubilee-Allianz, which enables customers to obtain their motor insurance through CFSL. Could you provide insights into the growth and sustainability initiatives in the Cards & Payments segment? In the Cards & Payments segment, we grew our number of active cards issued, and POS acquiring volumes also saw a healthy growth. The adoption of the IPS digital payment system through its integration into our MoFinans app has been a major driving force behind our digital offerings, providing customers with a swift and convenient way to repay their loans, while maintaining high standards of security. Our MoFinans digital payment solution has already reached MUR 50 million in monthly transactions through IPS–representing the highest monthly volume of transactions through the IPS system in Mauritius. We take great satisfaction and pride in this achievement, and seeing the increasing trust in and reliance on digital payments in Mauritius, we are more committed than ever to upholding our leading position in this sphere. A new Head of Cards and Payments was appointed to drive our strategy in this market, which also holds an important sustainability component as we progressively shift to QR code payments and e-statements. How do activities like Factoring, and initiatives like Noubiznes, contribute to supporting businesses in this difficult environment? Factoring continues to stand out as an excellent financing solution for cash-strapped SMEs in light of the current economic climate, where borrowing, financing and operating costs have risen exponentially. The number of SME clients using our factoring solutions continues to grow, indicating that SMEs see a lot of value in this working capital solution, which includes the outsourcing of debtor management to CFSL. We also launched the Noubiznes Booster Programme, which was designed to support and accelerate the growth of businesses showing strong innovation and scalability potential. Through a nine-month programme, the Noubiznes Booster Programme equips a selected few entrepreneurs with the financial literacy, strategic guidance, networking opportunities, personalised coaching and other practical tools they need to improve the competitiveness of their business and fulfil their roles as engines of socioeconomic development. Fundkiss has also proven to be a valuable investment and a crucial enabler of our SME strategy. Since its creation, it has provided loans amounting to over MUR 300 million, of which MUR 158 million were raised in 2023 alone, grown its lending community to over 5,000 individual and institutional lenders, and extended its impact to almost 400 SMEs and entrepreneurs. 27 OUR YEAR AT A GLANCE OUR PEOPLE GOVERNANCE FINANCIAL STATEMENTS
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