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Annual Report 2016
ANNUAL REPORT 2016
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Annual Report 2016
INTRODUCTION 3
MEMBERSHIP 7
PRESIDENT’S REPORT 10
EXECUTIVE COMMITTEE 11
CORPORATE GOVERNANCE 12
MARKETING REPORT 13
PATRONS, SPONSORS, AFFINITY PARTNERS 14
EVENTS 17
INFORMATION & MEDIA 18
FINANCIAL REPORT 19
INDEX
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Annual Report 2016
The Republic of South Africa represents a significant
source of revenue and intellectual capital to the island of
Mauritius. And with its favourable business environment,
first world infrastructure and stable economic and political
situation, Mauritius represents an enticing investment
destination for South Africans.
INTRODUCTION
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 endeavours 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 has to offer the other.
Data provided by Statistics Mauritius provides a recent historical snapshot of some key market indicators from
the Island’s perspective:
Perhaps the most telling indication of the close commercial ties enjoyed by South Africa and Mauritius:
Top Country of Origin for Arrivals in Mauritius for business purposes
Data provided by Statistics Mauritius
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.
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
2013 2014 2015 Jan to June 2016
Arrivals in Mauritius for Business Purposes 2013 - June 2016
South Africa
France
UK
India
China
Reunion
Madagascar
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Annual Report 2016
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.
Consistently in the Top 5 Imports by Country of Origin
Consistently in the Top 5 Domestic Exports by Country of Destination
0
2000
4000
6000
8000
10000
12000
1Q 2014 3Q 2014 1Q 2015 3Q 2015 1Q 2016
Imports by Country of Origin
South Africa
France
China
India
Vietnam
0
500
1,000
1,500
2,000
2,500
3,000
3,500
1Q 2014 3Q 2014 1Q 2015 3Q 2015 1Q 2016
Domestic Exports by Country of Destination
France
United Kingdom
South Africa
U.S.A.
Italy
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Annual Report 2016
South Africans travel to Mauritius for leisure purposes throughout the year.
Consistently 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.
Consistently in the Top 5 Source of Direct Foreign Investment
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
1Q 2014 3Q 2014 1Q 2015 3Q 2015 1Q 2016
Tourist Arrivals by Country of Origin
South Africa
UK
India
China
France
0
1,000
2,000
3,000
4,000
5,000
6,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2016 1Q
2016
Foreign Direct Investment by Country of Origin
France
United Kingdom
South Africa
United Arab Emirates
USA
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Annual Report 2016
With the completion of a second 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 follows:
� 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:
Board of Investment
Mauritius Exporters Association
South African Department of Trade & Industry
SA Dept. Of International Relations & Co-operation
GIBS Centre for Dynamic Markets
Chinese Business Chamber
Current Honorary Member:
South African High Commission to Mauritius
OBJECTIVES
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Annual Report 2016
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 100 corporate and 50 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
MEMBERSHIP
Corporate
66%
Individual
30%
Associate
&
Honorary
4%
010203040506070
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&
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&
Insu
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En
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Min
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Fin
an
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Ma
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me
nt…
HR
& T
rain
ing
Leg
al
Se
rvic
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Log
isti
cs &
Ou
tso
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Ma
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fact
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ng
Pro
pe
rty
&
Co
nst
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ion
Re
tail
Sm
all
Bu
sin
ess
To
uri
sm &
Ho
spit
ali
ty
Tra
nsp
ort
ati
on
Individual
Corporate
CEO
11%
MD
13%
Director
38%
Profess.
5%
Manager
33%
ACTIVE MEMBERS AS OF END JUNE 2016
NOMINEE PROFILE AS OF END JUNE 2016
MEMBERSHIP BY BUSINESS SECTOR AS OF END JUNE 2016
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Annual Report 2016
BANKING & INSURANCE
Investec Bank (Mauritius) Limited
AfrAsia Bank Limited
Standard Bank (Mauritius) Ltd
Bank One Limited
Metropolitan Health (Mauritius) Ltd
Standard Chartered Bank Mauritius
Premium Brokers
Swan
CONSTRUCTION & PROPERTY
Building & Civil Engineering Co Ltd
Kosto (Ltd) Mauritius
Arup Sigma Ltd
General Construction Company
Rehm Grinaker Construction Co Ltd
La Balise Marina
Les Villas de Belle Ombre
Park Lane Properties Ltd
Inter Island Construction Ltd
Le Parc de Mont Choisy IRS
Saint Aubin Ltee
Atlantic Leaf Properties Limited
Tower Bridge Projects Mauritius Ltd
Matkovich Golf Course Construction
Mark Wilshire Golf
Maingard Properties
Riteseal Mauritius
Mara Delta Property Holdings
Kubiko Ltd
Texture Ltd
ENERGY, LOGISTICS & OUTSOURCING
Engen Petroleum (Mauritius) Ltd
Regis Management Services
United Africa Feeder Lines
International Facilities Services Mauritius Ltd
CCI Global Ltd
Air Tec Africa
Mauritius Freeport Development Company
SABMiller Procurement
Likusasa Group
Dodo Relocations
MANUFACTURING
Explast Ltd
Sterns Casting & Refining Ltd
Shadeports Plus
Roger Fayd'Herbe & Co Ltd
FINANCIAL MANAGEMENT SERVICES
AssetHouse Ltd
Frontière Finance 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
Tsusho Capital (Mauritius) 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
PSG Wealth 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
Nedcor Trade Services Ltd
AIP Holdings Limited
Safyr Wealth Services Ltd
CIM Global Business
Adansonia Management Services
International Proximity
Skybound Capital
Baines Trust & Corporate Services
Alliance Financial Services
LCF Securities
TRAVEL, TOURISM & HOSPITALITY
South African Airways
Holiday Inn Mauritius Airport
Angsana Hotel Balaclava
Intercontinental Mauritius Resort
The Beachhouse Restaurant
Uniglobe Travel
Check-In Travel
Atom Travel Service
Concorde TGA
Rev Voyages
Jes Travel Consultants
Rogers Aviation
Vision Sport Mauritius
CORPORATE MEMBERS END JUNE 2016
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Annual Report 2016
LEGAL
Eversheds Mauritius
ENSafrica (Mauritius)
MULTI NATIONAL HEAD OFFICE
AECI (Mauritius) Ltd
Aspen Global Incorporated
Vodacom International
Brenntag Chemicals Mauritius Ltd
Borwood International
EDUCATION, HR & TRAINING
Northfields International High School
African Leadership Unleashed
RETAIL
Woolworths (Mauritius)
HM Rawat Communications Ltd
Grays Inc. Ltd
The Gourmet Emporium & L'Epicerie Ltd
Crystal Inc.
INDIVIDUAL MEMBERS END JUNE 2016
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. Roger Martin Ms. Linda Huddy
Mr. Shanaka Katuwawala Mr. Richard Charrington
Mr. Charl Stevens Ms. Sameera Vayid
Mr. Peter Bacon Mr. Patrick Cochran
Ms. Deborah Dove Mr. Jean Roland Bechard
Mr. Kader Mungly Mr. Norman Ross
Mr. Ramsay Patmore Mr. Shameer Muhammad
Mr. Mitch Barrett Mr. Stuart Beattie
Dr. Lesley Emanuel Mr. Francois Roux
Mr. Ronald Dicks 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. Gerard Bosman
Ms. Diona Armoogum Mr. Japie Hechter
Mr. Ernst Nolte
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Annual Report 2016
The 2015/2016 year capped off another event filled year for our
Chamber with a total of 6 breakfast meetings and 1 evening
function. Unfortunately, all the positive strides we made as a
Chamber were overshadowed by the loss of one of our founders
and very active member, Miro Dvorak. We will forever miss
Miro’s contribution as a willing participant as well as for his legal
mind, but most of all we miss his friendship. Rest in peace my
friend.
Our membership continues to grow at a steady rate and it seems
that word of mouth is responsible for most of this. We do believe
that the larger our network, across multiple business sectors, the
more relevant we become as a lobby 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.
Issues currently presented to government by the Chamber
include among others: the definition of “permanent” residence
permit (in practice only valid for 10 years), eligibility to purchase
primary residence anywhere on the island and barriers to
effective directorship and shareholding. Members can be rest
assured that the Chamber will continue to keep these concerns
as a priority.
As part of our agenda, we will shortly be sending all members a
very simple survey. The rationale behind this survey is to try and
identify the impact expats have on the Mauritian economy, and
use that data to promote our agenda in Mauritius. We have
elected to run this survey internally, without cost, and pending
the outcome may appoint an independent survey with a broader
reach so the data cannot be disputed. I would urge everyone to
please support this initiative as this data will be made available
to all members as well.
Our SAA discounts seem to have been well received by members
with our travel spend having increased over 1000% from this
time last year. We thank SAA for helping us finalise this contract
and their continued involvement as patrons of the SA Chamber.
In conclusion I would like to thank the committee for all their
support over the year and I look forward to welcoming a few new
faces to the committee at the AGM.
RICHARD ROBINSON President
PRESIDENT’S REPORT
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Annual Report 2016
RICHARD ROBINSON
PRESIDENT
FOUNDER MEMBER
Managing Director of AssetHouse Ltd, a
financial services company. South African
born, Richard has been living and working in
Mauritius since 2004. He holds a BCom from
Rhodes University and CFP – Free State
University.
BILAL ADAM
CO-OPTED VICE-TREASURER
Investment Manager
Investec Wealth & Investment (Mauritius)
CRAIG MCKENZIE
FOUNDER MEMBER
Chief Executive Officer
Investec Bank Mauritius
TIM REDMAN
Development Director
Le Parc de Mont Choisy
MARK ELSBURY
Managing Director
Kilmun Holdings
RUDOLF PRETORIUS
CO-OPTED TREASURER
CEO Adansonia Management Services, Rudolf is a
Chartered Accountant and serves as director and
non-executive directors on a number of South
African, Mauritian and US financial services
boards. He has been resident in Mauritius since
2010.
JACINDA REDMAN
SECRETARY
Administration & Marketing Manager
South African Chamber of Commerce
JOHN MCILRATH
FOUNDER MEMBER
Managing Director
AirTec Global Ltd.
HANNELIE STRYDOM
Managing Director
Gemini Consulting
PETER BACON
Director
Sun International/Woolworths
EXECUTIVE COMMITTEE JUNE 2016
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Annual Report 2016
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 second Chamber AGM was held on the 9th September 2015, 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 3 board meetings during the course of the year under review, with
the required minimum quorum.
2015/2016
Member Industry 03.11.15 02.02.16 14.04.16
Richard Robinson Financial
Services
√ √ ×
Miro Dvorak Legal √ √ ×
Henk Barnhoorn* Financial
Services
√ × N/A
Keith Grunow* Manufacturing × × N/A
Tim Redman Property √ × √
Rudolf Pretorius** Financial
Services
N/A N/A √
Jacinda Redman Marketing √ √ √
Peter Bacon Hospitality √ √ √
Hannelie Strydom HR Consulting √ √ √
John McIlrath Transportation × × √
Mark Elsbury Hospitality √ √ ×
Craig Mckenzie Banking × × ×
Bilal Adam Banking √ √ √
Board Meeting Attendance 2015/2016
*tendered resignation 30.04.16
**co-opted 30.04.16
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.
CORPORATE GOVERNANCE
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Annual Report 2016
The past year has been an exciting and busy time for the
South African Chamber of Commerce.
Our influence continues to grow both in terms of our
relationship with the private and public sectors, and in
terms of membership. With a 20% growth in members over
the previous financial year, and the same level of growth
predicted for the next year, our voice will continue to gain
more authority. Our members come from a wide variety of
industry sectors, with specific growth this year from the
hospitality and property segments.
In 2015, we were delighted to negotiate a Tier Level 1
Corporate Rate with our Patron South African Airways. This
entailed many of our larger corporate members ceding
their own SAA rates to the Chamber and thus allowing ALL
Chamber members – including individual members – to
benefit from the highest level of discount available.
Particular thanks in this regard to GMG Trust, Vodacom,
Likusasa, Investec Bank, Pwc and Regis.
Earlier this year, the Chamber also concluded a
Memorandum of Understanding with the Chinese Business
Chamber. In terms of the MOU the two Chambers will
actively support and assist each other in achieving their
objectives and sharing best practices.
Events and presentations remain an important part of
Chamber life. During the 2015/20165, we were pleased to
host 6 events in total. Our presentations offered analysis on
the South African and Mauritius Budget Announcements, a
global economic presentation, a member success story, a
workshop on the role of the Mauritius Freeport and an
inspiring story of personal triumph. I do hope to see many
more members attending our functions or sponsoring an
event.
Just a reminder that Membership data, upcoming events
and all the latest Chamber newsletters are available on our
website. I invite you to take a further look on
www.sachamber.mu
With very best wishes, JACINDA REDMAN
Marketing and Administration Officer
MARKETING REPORT
“A very special thank you
to all our guest speakers
for their time and effort
in providing our
members with
interesting and useful
information”
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Annual Report 2016
South African Airways During 2015/2016, 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.
PATRON
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!
With this development, the Chamber also appointed several more travel agents authorised to sell the
Chamber corporate rate from SAA:
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Annual Report 2016
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.
AFFINITY PARTNERS
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Annual Report 2016
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.
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.
EVENT SPONSORS
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Annual Report 2016
Aspen – A Pharmaceutical Success Story - 12th August 2015
Samer Kassem, CEO of Aspen Global provided guests with some
insight into the phenomenal international success of South African
pharmaceutical manufacturer, Aspen. Additional HR presentations by
Hannelie Strydom & Mark Leisegang.
Labourdonnais Waterfront Hotel
SPONSORED BY GEMINI CONSULTING
Mauritius Freeport – All You Need to Know – 17th August 2015
Presentations from Mauritius Freeport Development, Shoprite and
the Board of Investment offered a holistic view on the role of the
Mauritius Freeport.
Labourdonnais Waterfront Hotel
SPONSORED BY AIR-TEC
Global Investment Agility – 22nd September 2015
Our most successful event ever with more than 120 guests,
economists Anneliese Peers and Prof Piet Strydom provided guests
with a wealth of interesting economic information on a global scale.
Labourdonnais Waterfront Hotel
SPONSORED BY INVESTEC BANK
South African Budget Analysis – 1st March 2016
Robyn de Kock from Eversheds South Africa was back for a second
time to give members an in-depth analysis on the South African
budget announcement – after a tumultuous few months that saw the
Rand plunge to new lows.
Labourdonnais Waterfront Hotel
SPONSORED BY CIM GLOBAL BUSINESS & SOUTH AFRICAN AIRWAYS
Changing Dynamics in Africa – 12th April 2016
Professor Lyal White from the Gordon Institute of Business Science in
Johannesburg presented a fascinating synopsis of the state of African
economies and what the future might hold for the continent as a
whole.
Labourdonnais Waterfront Hotel
SPONSORED BY THE SA CHAMBER OF COMMERCE
The Fat Kid Diaries – 17th June 2016
We saw the financial year out with an inspiring presentation from Ron
Rutland who cycled through every country in Africa to raise
awareness of breast cancer, despite no formal training and minimal
organisation.
The Beach House Restaurant
SPONSORED BY THE BEACH HOUSE
EVENTS
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Annual Report 2016
INFORMATION & MEDIA
A total of 55 emails were sent to members via the
Chamber’s Mailchimp account during the 2015 /
2016 financial year at a rate of about 1 per week.
Average open rate has grown to 34%. Nevertheless,
we would like to see this open rate grow and will
maintain content that is both relevant and
interesting. Issues covering the number of
Occupation Permits issued to South Africans,
changes to the IRS/RES schemes and South African
economic news were all hot topics.
The Chamber website has seen a large increase in
traffic since 2013
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Annual Report 2016
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, 2016.
As per the adopted Constitution, the Chamber is subject to a
formal audit which was conducted by Moollan & Moollan. The
Chamber received a clean audit opinion for the year ended
June 30, 2016.
The Chamber ended this year with a total membership of 161
(2015: 137) which consisted of 107 corporate and 54
Individual members. This resulted in membership fee
revenues and other income of Rs1,063,000 (2015: Rs954,500).
Total expenses of Rs847,187 (2015: Rs833,347) ended only
marginally higher than 2015. Expenses remained in line with
the agreed Budget with all deviations approved by the Board.
The key expenses during the year were compensation related
costs of Rs611,232 (2015: Rs555,000) and costs of Rs94,627
(2015: Rs130,845) 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 Rs847,187 and revenues of
Rs1,063,000 the Chamber ended the year with a surplus of
Rs215,813 (2015: Rs121,153) compared to the budget of
Rs139,160.
The Chamber’s financial position ended positively with cash of
Rs808,996 compared to Rs387,008 last year. This included an
amount of Rs444, 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
Rs23,000 which relates to outstanding membership fees.
The FY2016 budget has a conservative growth target of 22
new members, which will result in revenues of approximately
Rs1,274,000 (an approx. 7% increase on membership fees
only). With expenses budgeted at Rs927,920 and no capital
items, we estimate that the Chamber will end the FY17 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
Acting Treasurer
FINANCIAL REPORT
20 | P a g e
Annual Report 2016
The South African Chamber of Commerce in Mauritius
Association Registration Number 13259
Registered Address
Suite 208 La Croisette
Royal Road, Grand Bay
Tel: + (230) 269 4400 – Fax: + (230) 269 6400
[email protected] / www.sachamber.mu