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Suite C 208, La Croisette, Grand Baie, Mauritius Tel: +230 269 4400 | Fax: +230 269 6400 [email protected] | www.sachamber.mu

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Annual Report 2017 of 21

CONTENT

INTRODUCTION

MEMBERSHIP

PRESIDENT’S REPORT

EXECUTIVE COMMITTEE

CORPORATE GOVERNANCE

MARKETING REPORT

PATRONS, SPONSORS, AFFINITY PARTNERS

EVENTS

INFORMATION & MEDIA

FINANCIAL REPORT

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INTRODUCTION The Republic of South Africa represents a significant source of revenue and intellectual capital to the island of Mauritius. And with its favorable business environment, first world infrastructure and stable economic and political situation, Mauritius represents an enticing investment destination for South Africans. The primary mandate of The South African Chamber of Commerce in Mauritius is the representation and development of commercial relations between Mauritius and South Africa. It is government’s role to ensure that the appropriate trade agreements, incentives and processes are in place to facilitate this course. The Chamber endeavors to guide the public sector on matters concerning lateral trade relations and to ensure that its members in the private sector can benefit from what each economy can bring to each other. Data provided by Statistics Mauritius provides a recent historical snapshot of some key market indicators from the Island’s perspective:

Mauritius has enjoyed a steady growth in the arrival of visitors for business purposes, with South Africans forefront since 2013. Data from the first half of 2016 indicates yet further increase in the number of business travellers to the Island. The Mauritius - South Africa route is served by South African Airways and Air Mauritius with an average of 30 flights per week. All members of the Chamber benefit from a Tier Level 1 corporate rate with South African Airways. As far as external trade is concerned, South Africa represents an important partner both as a purchaser of Mauritian goods and supplier of products to the Mauritius market place.

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2013 2014 2015 2016 Jan-Jun 2017

Tour

ist A

rriv

al -

Busin

ess

Purp

ose

Arrivals in Mauritius for Business Purposes 2013 - June 2017

South Africa France India United Kingdom

Reunion Island China Madagascar Kenya

USA United Arab Emirates Germany


South Africa - Always in the Top 5 Imports by Country of Origin

South Africa - Always in the Top 5 Domestic Exports by Country of Destination

South Africa - Always in the Top 5 Tourist Arrivals by Country of Residence

Data recorded since 2006 illustrates South Africa’s importance as a source of FDI to Mauritius. This FDI peaked in 2012 when there was heavy investment into IRS/RES schemes.

01,0002,0003,0004,0005,0006,0007,0008,0009,000

Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17

Imports by Country of Origin 2015 - 2nd Quarter 2017

China India South Africa France Japan

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1,000

1,500

2,000

2,500

3,000

Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17

Domestic Exports by Country of Destination 2015 - 2nd Quarter 2017

United Kingdom Italy France South Africa Spain

0

50,000

100,000

150,000

200,000

250,000

300,000

Year 2013 Year 2014 Year 2015 Year 2016 Jan to June 2017

Tour

ist A

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Tourist Arrivals by Country of Origin Jan 2013 to June 2017

France Reunion Island United Kingdom Germany India South Africa Rep. of China


With the completion of a third full year of operation, the success of South African Chamber of Commerce in Mauritius bears testament to the increasing demand for formal representation of commercial relations between the two countries. The objectives of the Chamber are as follow: • to promote, encourage and facilitate trade, services

and investment between South Africa and Mauritius;

• to promote the role of Mauritius as a regional hub and the destination of choice for the establishment of investment opportunities into the African continent;

• to promote and facilitate the integration of businesses owned/managed by South Africans in Mauritius with the wider Mauritian business community;

• to represent and promote South African interests on specific and general issues with the Government and other relevant authorities;

• to promote generally the mutual interests of its members.

In order to fulfil these objectives, the Chamber provides its members with: • appropriate information and news; • knowledge bank resources; • networking opportunities; • events, presentations and workshops

CURRENT ASSOCIATE MEMBERS CURRENT HONORARY MEMBER Board of Investment Department of Trade & Industry Department of International Relations & Co-

Operation Mauritius Exporters Association Chinese Business Chamber Indian Ocean Rim Association Ekurhuleni North Chamber of Commerce Department of Communications & Postal

Services

South African High Commission to Mauritius


01020304050607080

Corporate Individual

MEMBERSHIP Membership to the Chamber is of interest to any company or individual – Mauritian or South African - that seeks to improve and grow business relations between the two countries. Since our launch, our membership has grown to more than 120 corporate and 58 individual members with a profile covering a wide range of industry sectors including financial, educational, construction, property, manufacturing, hospitality, logistics, retail and other service industries. Membership is offered as follows: • Corporate Membership – annual fee

Tailored for organisations seeking wider information distribution and marketing exposure 4 nominated members Company listing on the Chamber website with

hyperlink Regular news, invitations, networking etc. Business to Business Promotion within

Chamber membership Sponsorship Opportunities Affinity Partnership

• Individual Membership – annual fee Individuals electing to join in their personal

capacity Individual listing on Chamber website Regular news, invitations, networking etc.

• Honorary or Associate Membership – no annual fee Individuals or governmental institutions that

support Chamber objectives and activities Listing on Chamber website Regular news, invitations, networking etc. Honorary and Associate members have no

voting or commercial rights

Active members as of end June 2017

Nominee Profile as of end June 2017

Membership by Business Sector as of end June 2017

9%

27%

64%

Associate & Honorary Individual Corporate

6%

48%41%

1%1%3%

CEO Director Manager

Other Partner Professional


CORPORATE MEMBERS END JUNE 2017

BANKING & INSURANCE Investec Bank (Mauritius) Limited AfrAsia Bank Limited Standard Bank (Mauritius) Ltd Bank One Limited Standard Chartered Bank (Mauritius) Ltd Metropolitan Health (Mauritius) Ltd Premium Brokers Ltd Swan Medscheme (Mtius) Limited CHEMICAL DISTRIBUTORS Brenntag Chemicals Mauritius Limited CONSULTING SERVICES International Economics Consulting Ltd COMMUNICATION Vodacom International CONSTRUCTION & PROPERTY Building & Civil Engineering Co Ltd Kosto (Ltd) Mauritius Arup Sigma Ltd General Construction Company Rehm Grinaker Construction Co Ltd Dolphin Coast Marina Estate Ltd Les Villas de Belle Ombre/Villas Valriche IRS Park Lane Properties Ltd Maingard Properties Inter Island Construction Ltd Compagnie de Mont Choisy (Le Parc de Mont Choisy IRS) Atlantic Leaf Properties Mark Wiltshire Golf Riteseal Mauritius Mara Delta Property Holdings ZoranCSM Consulting Services Ltd Broll Indian Ocean Ltd Top Turf (Mauritius) Ltd EDUCATION Northfields International High School African Leadership Unleashed ENERGY Engen Petroleum (Mauritius) Ltd

FINANCIAL MANAGEMENT SERVICES AssetHouse Ltd GMG Trust Ltd Southern Cross Mauritius Global Wealth Management Solutions Ltd Abax Corporate Services Ltd Dolberg Asset Finance Loita Management Services Ltd New Fundamental Solutions Ltd Intercontinental Trust All Seasons Capital Management Ltd Schindlers Trust Mauritius Ltd South Suez Capital Ltd Summit Trust (Mauritius) Ltd Maitland (Mauritius) Ltd DTOS Ltd DMH Associates Ltd Navitas Management Services Ltd Confident Asset Management Limited Price Waterhouse Coopers Ltd Island Premier Foreign Exchange Mauri Experta Ltd BTG Management Services (Mauritius) Ltd First Island Group Osiris Corporate Solutions (Mauritius) Ltd Nedcor Trade Services Ltd AIP Holdings Limited Safyr Utilis Ltd CIM Global Business Adansonia Management Services Limited Skybound Capital Ltd Baines Trust & Corporate Services Ltd International Proximity Alliance Financial Services Ltd LCF Securities Ltd Lemuel Corporate & Trust Management Services Ltd Anchor Capital (Mauritius) Ltd Coetzee & Partners Ana Balat Ltd KPMG Super Group Trading Limited TAM Asset Management International Ltd International Payments Tech KDT Investment Advisors Sunibel Corporate Services Ltd HR & TRAINING Gemini Consulting Africa HR Solutions Ltd Copper Quail Global Ltd


CORPORATE MEMBERS END JUNE 2017 (continue..)

LEGAL Eversheds Mauritius ENSafrica (Mauritius) Temple Group LOGISTICS & OUTSOURCING Regis Management Services United Africa Feeder Lines International Facilities Services Mauritius Ltd CCI Global (Mauritius) Ltd Mauritius Freeport Development Co. Ltd SABMiller Procurement (Mauritius) Likusasa Group MANUFACTURING Explast Ltd Sterns Casting & Refining Ltd Shadeports Plus Roger Fayd’Herbe & Co Ltd MINING AECI (Mauritius) Ltd PHARMACEUTICAL Aspen Global Incorporated TECHNOLOGY Borwood International TRANSPORTATION Air Tec Africa

PROJECT MANAGEMENT Tower Bridge Projects Ltd Kubiko Space Planning and interior fit out of corporate office environments Texture Limited RELOCATIONS Dodo Relocations RETAIL Woolworths (Mauritius) HM Rawat Communications Ltd Grays Inc Ltd The Gourmet Emporium & L’Epicerie Ltd Crystal Inc. Shoprite International Roche Bobois TRAVEL, TOURISM & HOSPITALITY Angsana Balaklava The Beach House Restaurant South African Airways Uniglobe Travel Ltd Check-In Travel Ltd Rogers Aviation Vision Sport Mauritius Ltd InterContinental Mauritius Resort Atom Travel Service Ltd Concorde Travel Jes Travel Consultants Rev Voyages Ltee Ocean Spirit Limited Extreme Leisure Activities Visas Zone


INDIVIDUAL MEMBERS END JUNE 2017

Ms. Ayesha Jeewa Mrs. Barbara Barnhoorn Mr. Shaun Swaney Mr. Didier de Senneville Mr. Anand Singh Cyparsade Mr. Mark Cridlan Mr. Rooknudien Mahomed Ms. Robyn Hyde Mr. Ross Alexander Mr. Kriek Roux Mr. Raffaele Granaudo Mr. Mark Olivier Mr. Wesley Carlson Mrs. Sharon Thompson Mr. Anthony May Mr. Mark Korten Mr. Derrick Mace Mr. Mark Elsbury Mr. Richard Charrington Mr. Charl Stevens Ms. Sameera Vayid Mr. Peter Bacon Mr. Patrick Cochran Ms. Deborah Dove Mr. Jean Roland Bechard Mr. Hassea Shivaan-Yudd Bashkar Dr. Jayshan Keejoo Mr. Ashwani Sood Ms. Hannelie Strydom Mr. Al Assad Peeroo

Mr. Kader Mungly Mr. Norman Ross Mr. Ramsay Patmore Mr. Shameer Muhammad Mr. Mitchell Barrett Mr. Stuart Beattie Dr. Lesley Emanuel Mr. Bilal Sassa Mr. Elidio Gualdi Mr. M. Cader Jaunbocus Mr. Rajesh Unnuth Mrs. Leoni Field-Richards Mr. Mark Richards Ms. Eloise Robbertze Mr. Jerry Botha Mrs. Juliet Phillips Mr. Jozef Tournel Ms. Tej Soodaye Mr. Nitin Pandea Mr. Japie Hechter Mr. Ernst Nolte Ms. Lynda Kok Shun Mr. Louis van Niekerk Mr. Grant Duff Ms. Michelle Carney Ms. Natasha Venatheten Mr. Jan Wandrag Mr. Murray Adair Mr. Trent Miller


PRESIDENT’S REPORT

2017 has been an incredibly hectic year for the Chamber. Firstly, we lost our super-efficient secretary, Jacinda Redman, but were very fortunate in finding two extremely able replacements in Aurore Martingale and Catherine Fleurant. In terms of events, both formal and informal, we managed to host at least one function every month and most of these were sponsored by member firms. We continue to be fully subscribed at our events but the committee has decided to try and broaden our range of topics, in order that we might attract a larger audience. Again, I would like to appeal to members to contact the executive committee with any suggestions on subjects which they feel would be beneficial for members. We have seen a steady flow of SA’s establishing residency in Mauritius, as well as corporate expansion from SA’s in the offshore sector. FDI from SA has however reduced considerably as the initial wave of property developments has slowed down. The Mauritian government have recently started targeting South African corporates and HNW individuals having realised that for the island to exploit its potential, it needs to attract both human and intellectual capital. We have engaged with various Government structures to try and facilitate both a residency and citizenship scheme for Mauritius, to compete with the likes of Portugal and Malta. Ultimately this is a political decision but there seems to be a growing realisation that this must happen if Mauritius is to remain relevant. Finishing off I would like to thank all members of the Chamber for all the positive feedback and support we have received, and to the committee for their commitment to the Chamber throughout the year. RICHARD ROBINSON President


EXECUTIVE COMMITTEE JUNE 2017

RICHARD ROBINSON PRESIDENT, FOUNDER MEMBER Managing Director AssetHouse Ltd

BILAL ADAM VICE-TREASURER CEO Investment Afrasia Bank Mauritius

CRAIG MCKENZIE FOUNDER MEMBER Chief Executive Officer Investec Bank Mauritius

KIM SETZKORN Director Geneva Management Group

TIMOTHY REDMAN VICE PRESIDENT General Manager Maradelta Property Holdings Ltd

JACINDA REDMAN SECRETARY South African Chamber of Commerce

HANNELIE STRYDOM Managing Director Gemini Consulting Ltd.

MARK ELSBURY Managing Director Kilmun Holdings

RUDOLF PRETORIUS TREASURER CEO Adansonia Mgmt Services

. JOHN MCILRATH FOUNDER MEMBER Managing Director AirTec Global Ltd.

PETER BACON Director Sun International / Woolworths


CORPORATE GOVERNANCE The Chamber was first registered as an Association on 6th March 2013 and conforms to the Registration of Associations Act 1978. The rights, powers, duties and obligations of the Chamber, the Executive Committee and the members are governed by the Constitution of the Chamber and the Act. A full version of the constitution is available on the Chamber website www.sachamber.mu under the section About / Chamber Constitution. All members were issued with a Certificate of Membership according the Constitution rules. Since the Chamber holds personal contact details of its members and employee, it is registered with the Data Protection Office. In terms of the law, the Chamber is required to store and handle data securely using both physical and digital safeguards. From 1st July 2015, the Executive Committee comprised 11 members. Mr Keith Grunow (Vice Treasurer) and Mr Henk Barnhoorn (Treasurer) tendered their resignations on 30th April 2016 owing to work commitments. Mr. Bilal Adam was appointed Vice-Treasurer and Mr. Rudolf Pretorius was co-opted to the executive committee as Treasurer. Mr. Miro Dvorak (Vice-President) passed away on 6th June 2016. The Chamber therefore ended its financial year with 10 executive committee members. For the year under review, the Executive Committee considered its composition as adequately balanced and that the Committee members had the range of skills and expertise required to adequately fulfil their tasks and promote the interests of the Chamber. All Executive Committee members and post holders are eligible for re-election. An invitation to all members for written nominations for the Executive Committee has been distributed. The third Chamber AGM was held on the 21st September 2016, at Northfields International High School. The required number of members were present and a quorum was achieved. The Annual Report and Financial Report were proposed and adopted. Nominations to the Executive Committee were approved. The Executive Committee held 6 board meetings during the year under review, with the required minimum quorum.

BOARD MEETING DATES FOR YEAR 2016/2017 MEMBER INDUSTRY 16.08.16 21.09.16 15.11.16 14.03.17 20.06.17 05.09.17 Richard Robinson Financial Tim Redman Property Rudolf Pretorius Financial Jacinda Redman Marketing Peter Bacon Hospitality Hannelie Strydom HR Consulting John McIlrath Transportation Mark Elsbury Hospitality Craig Mckenzie Banking Bilal Adam Banking Kim Setzkorn Financial Catherine Fleurant Financial - - - Aurore Martingale Financial - - - - -


MARKETING REPORT It is with much enthusiasm that I took over Jacinda’s marketing duties at the Chamber in October 2016. The 2016/2017 year showed a significant increase in the number of members approaching us to sponsor events. Accordingly, the Chamber hosted a total of 7 breakfast seminars and 3 networking evening functions. Social networks were started, with several channels launched – facebook, Pinterest, Google+, Twitter. The aim was to propagate the awareness of the Chamber on the web and to provide platforms where important news could be communicated instantly. With these channels in place, it becomes easier for potential members to contact us, and certainly helps to increase our ranking on search engines. A YouTube Channel was also created, where videos of the Chamber’s sponsored events are filmed and posted, giving the possibility to members to review any details discussed in our events. The various channels are steadily increasing, and we aim at increasing likes/views during the coming year. The Chamber also partnered with two business news platforms, namely Sundays Magazine and Platform Africa. These two entities offer preferential rates for members wishing to advertise through their media, and also gives the opportunity to our members to showcase their company through free interviews. Both now attend our events and provide free coverage on major topics discussed. Furthermore, a free column was negotiated in Sundays Magazine, allowing the Chamber to express its opinion on “Living in Mauritius”. The Chamber’s membership is still growing, with applications primarily emerging from the website and through word of mouth. With members originating from various industry sectors, the Chamber is constantly increasing its strength as a group. Our affiliations with both the Chinese Business Chamber as well as the French Chamber augurs well for the future and will greatly assist us to access the correct people in Government. As part of our agenda, we will be re-generating all Affinity partner programmes by negotiating more significant discounts for our members, while in return providing various platforms (social media, emailing, website) for our Affiliate partners to showcase their company. The website will also be reviewed to include additional useful info for members, and to fit with the revamped corporate identity. The SAA agreement, whereas members benefits from Tier 1 prices when travelling via SAA, is still being appreciated by our members, with a slight 4% decrease in the travel spend when compared to last year. We will continue to remind our members about the deal through email campaigns. We thank SAA for their continued participation as patrons of the SA Chamber. In conclusion, I would like to thank the committee for their trust in the work being done and I look forward to another rewarding and exciting year at the Chamber. CATHERINE FLEURANT Brand Manager


PATRON SOUTH AFRICAN AIRWAYS Leading airline on the African continent. Proud patron of the South African Chamber of Commerce in Mauritius During 2016/2017, our patron South African Airways provided business class return tickets for 2 of our guest speakers. We also negotiated a Tier Level 1 corporate rate with SAA which means that all our members benefit from the highest discounted rate available.

With this development, the Chamber also appointed several more travel agents authorised to sell the Chamber corporate rate from SAA:

BENEFITS

• All Chamber Corporate and Individual Members • Includes spouse and children • Valid for Business or Economy class travel • Valid for business or personal travel • Two bags of 23 kg each per person in economy class

when travelling to Africa

• Two bags of 32 kg each per person in business class when travelling to Africa

• No penalty fees for changes in same booking class

• No penalty fees for cancellations to bookings • PLUS: Complimentary lounge access at Mauritius

Airport for Corporate Nominees & Individual Members when travelling Economy class!


AFFINITY PARTNERS ENGEN PETROLEUM (MAURITIUS) With its modern service stations, products and services, Engen has quickly grown to be one of the most recognised brands in Mauritius. Introducing new concepts such as Quickshop, Corner Bakery and 24-hour service, Engen offers Chamber members an exclusive deal with respect to its Fleet card.

HOLIDAY INN MAURITIUS AIRPORT With its 435m² of conference rooms, the Holiday Inn Mauritius Airport is the perfect place for people on business in Mauritius. Holiday Inn Mauritius Airport offers Chamber members a 10% discount on Conferencing Packages and Meeting Rooms.

ANGSANA BALACLAVA MAURITIUS Angsana Balaclava Mauritius, one of the island’s premier hotels, offers all Chamber individual members and corporate nominees a range of discounts and special offers for Meetings, Incentives, Conferences and Events as well as accommodation, spa treatments and restaurants.

GRAYS INC. 20/Vin offers all Chamber nominees a complementary Club card which entitles the holder to a 10% discount on purchases, personalised service and other exclusive member promotions. Grays is also a valued sponsor of Chamber social wine tasting events. 20/Vin outlets are specialist wine and spirits boutiques showcasing the varied products manufactured, imported and exported by Grays.

SAINT AUBIN GROUP Saint Aubin Group, one of the oldest agro-industrial family-run businesses in Mauritius, offers all Chamber members a 10% discount at its three premium restaurant destinations: Le Saint Aubin, Riviere des Anguilles - Domaine des Aubineaux, Route Royal, Forest Side - Le Bois Cheri Restaurant, Société Usinière de Bois Chéri, Bois Chéri, and Grand Bois.

METROPOLITAN HEALTH Metropolitan Health is an innovative medical insurance administrator in the Mauritian market which has developed a local network of major private clinics, opticians, dentists and pharmacies. Metropolitan offers members a 10% discount on monthly premiums for medical aid packages. Exclusive to the Chamber.

GEMINI CONSULTING – EVENT SPONSOR Gemini Consulting is a people development company which aims to positively influence the way people work together in business and to make this change sustainable within the business environment. This is achieved through ensuring effective customer needs assessments followed by the implementation of standard or tailored value adding solutions.


AFFINITY PARTNERS (continue..) THE BEACH HOUSE - EVENT SPONSOR The Beach House is one of Grand Baie’s social landmarks with delicious food and a breath-taking seaside location which made it perfect for our Fatkid Diaries event in June.

INVESTEC WEALTH & MANAGEMENT – EVENT SPONSOR Investec Mauritius offers Investment Management, Transactional Banking and Lending facilities to High Net Worth Individuals and Corporates. Investec Mauritius, established 18 years ago, forms part of the Investec Group with a Primary listing on the LSE. The Group has £124 billion funds under management and total assets of £44 billion.

CIM GLOBAL BUSINESS – EVENT SPONSOR Cim Global Business is a leading management company in Mauritius with offices in both Mauritius and Singapore. Cim Global Business forms part of Cim Group, the largest non-bank financial services group in Mauritius whose parent company, Cim Financial Services Ltd, is listed on the Stock Exchange of Mauritius.

AIRTEC – EVENT SPONSOR AIR-TEC GLOBAL specializes in regional turbo-prop ACMI services (Aircraft, Crew, Maintenance and Insurance) and provides full operational support and assistance to clients in the Humanitarian and Medical support area and to Oil, Gas, petroleum and mining organisations.

PLATFORM AFRICA – PRESS COVERAGE Platform Africa is a high level forum for discussion on the role of Mauritius as a platform for Africa. It focuses on providing first hand news and views from those who are already doing business in Africa in the areas of finance, technology and energy, and covers wider themes such as sustainability, leadership and entrepreneurship.

EVOLUTION GROUP – PRESS COVERAGE Evolution and the international hotel group Sun Resorts have created a partnership in 2011, which resulted in the creation of the elegant magazine Sunday - a free bilingual quarterly distributed to the hotels in Mauritius and to high-net-worth individuals and subscribers in Mauritius. Evolution also distributes Kozé, a free pocket magazine showcasing the best Mauritian happenings. They are also a leader in the Annual Report publishing/printing.


EVENTS

PRESENTATION ON 2016 MAURITIAN BUDGET DATE: 03 August 2016 VENUE: Labourdonnais Waterfront Hotel DETAILS: Analysis was provided by Andre Bonieux from

PricewaterhouseCoopers representing the private sector and Ken Poonoosamy from the Board of Investment representing the public sector.

SPONSOR: Confident Asset Management

THE ROLE OF BUSINESS IN PARTNERSHIP WITH GOVERNMENT DATE: 13 September 2016 VENUE: Intercontinental Mauritius Resort DETAILS: Alan Mukoki, CEO of South African Chamber of

Commerce & Industry (SACCI), spoke about further developing trade ties between South Africa, Mauritius and the rest of the African continent.

SPONSOR: Intercontinental Mauritius Resort

SPECIAL VOLUNTARY DISCLOSURE PROGRAMME DATE: 19 September 2016 VENUE: Labourdonnais Waterfront Hotel DETAILS: Geneva Management Group Head of Tax, Ruaan van

Eeden provided SA Chamber members with comprehensive information on the Special Voluntary Disclosure Programme

SPONSOR: Geneva Management Group

THE SOUTH AFRICAN ECONOMY IN 2017 DATE: 17 April 2017 VENUE: Labourdonnais Waterfront Hotel DETAILS: The CEO of PSG Konsult, Francois Gouws, provided SA

Chamber members with comprehensive information on the current South African economy environment, explaining why PSG is positive about the future of Africa.

SPONSOR: PSG Wealth

DOING BUSINESS IN AFRICA DATE: 01 March 2017 VENUE: Labourdonnais Waterfront Hotel DETAILS: Steven Powell, a renowned specialist white-collar crime

prosecutor and forensics lawyer who specialises in leading forensic investigations, made a very captivating speech to the members present. He discussed about the compliance landscape in Africa, the recent corruption scandals, regulation, enforcement trends for 2016, the importance of third party due diligence and the top 10 things the DOJ expects to see in a company's compliance program.

SPONSOR: ENS Africa


EVENTS (continue..) WORLD CLUB 10’s HEYNEKE MEYER DATE: 26 April 2017 VENUE: The Beach House Restaurant DETAILS: Members were invited to meet Heyneke Meyer,

previously head coach of the South African National team, who talked about his life & experience as a Rugby coach.

SPONSOR: The Beach House Restaurant

LIVING & WORKING IN MAURITIUS & THE LEGAL SYSTEM DATE: 14 July 2017 VENUE: Temple Group Board room DETAILS: Christelle Parsooramen and Ravi Nagpal from Temple

Group, together with Nirmala Jeetah from the Board of Investment (BOI), provided SA Chamber members with comprehensive information on laws and regulations pertaining to living and working in Mauritius.

SPONSOR: Temple Group

BUDGET 2017 REVIEW, A HUNDRED DAYS IN DATE: 31 August 2017 VENUE: Labourdonnais Waterfront Hotel DETAILS: The Budget review was a successful event, which was

made captivating through our panel of speakers. Anthony Leung from PricewaterhouseCoopers (PwC) gave valuable insights on the Metro Express Project, while Wasoudeo Balloo from KPMG spoke about the Finance Bill and the recent tax measures. Rajneesh Phokeer from FSPA expressed his views on the Financial Services Sector.

SPONSOR: Confident Asset Management


Demographics

Mauritius South Africa

United States Russia

United Kingdom Colombia

France

New Visitors…

Returning Visitors28%

INFORMATION & MEDIA A total of 78 emails were sent to members via the Chamber’s Mailchimp account during the 2016 / 2017 financial year at a rate of about 1.5 per week. Average open rate is of 31%. Nevertheless, we would like to see this open rate grow and will maintain content that is both relevant and interesting. WEBSITE The Chamber website is increasing in pageviews, with an average of 1,068 visitors per month.

PRESS Sundays Magazine: Wealth Management in MU Business Magazine: Rise in Trade With SA CNBC Africa: Developing & Growing the Ocean Economy

SOCIAL MEDIA Social Media channels were introduced for the Chamber in December 2016. The following accounts were created:

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Social Media Reach


FINANCIAL REPORT The South African Chamber of Commerce (Mauritius), or ‘the Chamber”, has June 30th as its official financial year-end date. The current reporting year-end is 12 months to June 30, 2017. As per the adopted Constitution, the Chamber is subject to a formal audit which was conducted by VBS Business Services Ltd. The Chamber received a clean audit opinion for the year ended June 30, 2017. The Chamber ended this year with a total membership of 180 (2016: 161) which consisted of 122 corporate and 58 Individual members. This resulted in membership fee revenues and other income of Rs 1,204,645 (2016: Rs 1,063,000). Total expenses of Rs 1,011,036 (2016: Rs 847,187) ended only marginally higher than 2016. Expenses remained in line with the agreed Budget with all deviations approved by the Board. The key expenses during the year were salary related costs of Rs 842,682 (2016: Rs 611,232) and costs of Rs 53,750 (2016: Rs 94,627) associated with Marketing and Events. The reasons for the lower Events costs compared to last year, despite the fact that more Events took place during the year, are due to event sponsorships received. With total expenses of Rs 1,011,036 and revenues of Rs 1,204,645 the Chamber ended the year with a surplus of Rs 193,609 (2016: Rs121,153) compared to the budget of Rs 259,280. The Chamber’s financial position ended positively with cash of Rs 565,582 compared to Rs 808,996 last year. The unusually high cash balance at the end of the prior year included an amount of Rs 444,000 already collected from the 2016/2017 membership fees which were invoiced during the month of June 2016. The Chamber ended the year with Debtors of Rs 56,000 which relates to outstanding membership fees. The FY2018 budget has a conservative growth target of 12 new members, which will result in revenues of approximately Rs 1,392,000 (an approx. 7% increase on membership fees only). With expenses budgeted at Rs 1,087,310 and no capital items, we estimate that the Chamber will end the 2018 year in a healthy financial position. The Executive Committee is working on a number of strategies to deploy some of the excess cash in promoting the stated aims of the Chamber. RUDOLF PRETORIUS Treasurer


The South African Chamber of Commerce in Mauritius Association Registration Number 13259

Suite 208 La Croisette, Royal Road, Grand Bay Tel: + (230) 269 4400 | Fax: + (230) 269 6400 [email protected] | www.sachamber.mu

suite c 208, la croisette, grand baie, mauritius tel: …...suite c 208, la croisette, grand baie,...

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