Outgoing Chairperson’s Message
It has been a privilege for me to have served the company for the last 7 years. When the founder and shareholder approached me and shared the need to create a national champion in technology that would shine beyond our borders, I decided to join in the adventure. My mission as the Chair, was to bring credibility and most importantly make the Anglo African brand a trusted one by simply ensuring that we adhered to the highest level of governance. Upon my advice, the team immediately adopted the King Code, undertook a 360 review of the organisation and implemented Integrated Thinking and Reporting. I am pleased to report that, not only we exceeded the objectives initially set out for the company in terms of Governance, we are now also reaping the benefits of the strategy across all the relevant capitals.
Although the economic and business environment have been severely impacted by the ongoing pandemic, I am proud to note the exceptional financial performance of the group this year which shall be placed on record, fruit of many years of efforts and vision. Whilst we could not have foreseen the extent of the damage caused by the pandemic, the group was operationally and financially robust having built reserves to face the crisis. My congratulations go to the management team and employees for this record year.
Over the years the group has grown in size and stature. From its beginnings back in 2007 when the company was operating in the traditional IT sector, it has now diversified and is also offering services in the Engineering Consultancy, FinTech, PropTech & RiskTech, and will soon operate digital lending activities. The group is today amongst the few local companies offering unique value proposition to our stakeholders that aligns to the UN SDG’s and using emerging technologies to create an impact.
Under my chairmanship, the group has become a reference in terms of Governance, Forward-Looking and Sustainability, which brought recognition on a global scale - we were nominated next to corporate giants, and won awards, a testament to the unique way we do business and of our long term vision. This was a confirmation that we were on the right track, bringing a sense of achievement and pride for all of us.
I am confident that the future is promising despite the very difficult situation caused by Covid 19. The group has a solid foundation with a clear strategic vision. Along with the transformation plan which is well underway, changes made internally for better agility and responsiveness in this disruptive new normal and with new projects and businesses to be launched soon, the group is well equipped to sustain its growth and development and create long term value.
I am paying tribute to the founder of the company for his dynamism and vision, my fellow directors, the CEO, the management team and all the employees of the group for their contribution and collaboration during my tenure. I would also like to take this opportunity to thank our customers, suppliers and all our partners for their support.
I wish the new team the very best including the new chairperson, the Board of Directors, the CEO and his management team in taking the company to greater heights.
Jean-Claude Béga
Outgoing Chairperson
29th September 2021
Incoming Chairperson’s Message
As incoming chairman it gives me great pleasure to present the 2021 Integrated Report of Anglo African Investments Ltd. 2020/2021 have been challenging years in general. Various restrictive measures especially the lockdowns resulting from the pandemic have negatively impacted businesses. At Anglo African, prompt measures were taken to protect our employees and their families, the business and our clients: we rolled out our working from home policy for all staffs, closely monitored our cashflow with a tight control on our finances, and provided uninterrupted support (albeit remotely) to our clients.
We embarked on a transformation journey over the last few years redirecting our focus on the application of technology in emerging areas, whilst consolidating our existing core services. In view of this transformation, we have reassessed and changed our operating structure to increase optimization of resources and our customer service agility. Further, a new sub-committee of the Board “The Board Research and Innovation Committee” (BRIC) was set up with a mandate to advise the board on matters relating to technological and digital capital including the safeguard and the application of these capitals to support the company’s strategic objectives, and to create shared value.
As far as our transformation is concerned, we have progressed in many areas – a few worth mentioning are the new Startups related to Due Diligence Surveillance under our RiskTech line of business, with SonarPulse, and the simplification of our cloud ready platforms under our PropTech business, in Smart Home Tech. At the same time, we are consolidating our existing businesses by offering services and products that embed the latest available technologies. We are particularly proud to launch the first fully licensed digital financial inclusion lending platform by the end of 2021, effectively leveraging technology to extend access to the financially excluded market.
Year in review
Our group has registered revenue from continuing operations of MUR 315.8Mn, achieved a record profit after tax of MUR 23Mn and a net profit margin of 7.3%, a sharp improvement compared with last year despite the economic challenges faced. Along with the excellent performance, other financial and non financial KPI’s were also positive.
Appreciation
Firstly, I would like to express my gratitude to the outgoing chairperson, who has made invaluable contributions to the group over the years through his guidance, leadership, vision and insight. One of the most valued legacy is the embodiment of good governance in the Group’s DNA which now permeates everything we do.
We are glad to welcome the new directors Sylvie Boucheron Saunier, Temi Ofong, Folasade Femi Lawal and Shalini Rogbeer, and also wish to thank Anoushka Gungadin and Jean Pierre TCV Chay Loong, who resigned from the board this year, for their contribution. My appreciation goes to my fellow board directors, employees, the CEO and the management team who diligently managed the unprecedented challenges from the Covid 19 pandemic and resulting consequences. I would like to extend my gratitude to our partners and customers who continue to trust us with their support, particularly during difficult times.
Sanjana T. Singaravelloo
Incoming Chairperson
29th September 2021