REPORTING SCOPE AND BOUNDARY
This first integrated report of Currimjee Jeewanjee and Company Limited (“CJ”) provides information relating to its strategy, business model, operating context, material risks and opportunities, governance and operational performance for the period 1 January 2018 to 31 December 2018. This report covers CJ, its subsidiaries and associates (CJ Group) and excludes the subsidiaries which are under the control of Currimjee Industries Limited, namely Quality Beverages Limited, Soap & Allied Industries Limited, Central Distributors Company Limited, Margarine Industries Limited. Please refer to page 10 for Group Structure. We have published the annual financial statements (“AFS”) of the CJ Group which have been prepared in accordance with International Financial Reporting Standards (“IFRS”). In the present reporting process for all our reports contained herein, we have been guided by the principles and requirements contained in the IIRC’s International <IR> Framework, the GRI’s Standards, the National Code on Corporate Governance 2016, Committee of Sponsoring Organizations (COSO) framework for Enterprise Risk Management (ERM) and the Companies Act of 2001.
OUR APPROACH TO MATERIALITY
This report provides information that we believe is of material nature in the ability of the Group to generate value over the short, medium and long term. In order to determine our materiality, we have considered our business models, our interactions with our relevant capitals, our operating context, the relevance to our key stakeholders and our business strategies. In addition to CJ, we have presented business models for the Telecoms, Media & IT and Real Estate clusters as these are considered to be material as at end of 2018. As for our Tourism & Hospitality cluster, we shall present a business model in 2019 given that Anantara Le Chaland will be operational in 2019. Regarding Commerce & Financial Services and Energy, we have provided a brief on how they are structured to create value for all our stakeholders.
With the creation of new structures and governance rules, the Group has, to date, set up a strong organisation managed by a team of local and international experts.
Our story begins way back in 1884 when a 22-year-old, adventurous young man, Currimjee Jeewanjee, stepped off the ship in Port Louis after a two-month journey from India. He had a clear vision of where he wanted to go and had strong values that governed the way he did business and how he measured success. These are some of the traits we have tried to maintain.
Although a lot has changed over the years, these strong values the founder embedded in the Company’s foundation have remained the same: Foresight, Integrity, Responsibility, Passion and Openness.
The Group has always played an active role in the sustainable development of Mauritius. We continue to create opportunities and contribute to a better tomorrow for future generations.
129 Years - An epic journey
The history of the Currimjee Group is intricately linked to the history of our nation, and as Mauritius progressed, so did the Group over the last 129 years…
From trading, the Group diversified into manufacturing, marketing and distribution in the 1950s and 1960s and into services and high technology in the closing decades of the 20th century. We have grown over the years to become one of the leading Group in Mauritius and now form an integral part, through our wide range of activities, of the day-to-day lives of each and every Mauritian household.
Together, building a better tomorrow for a value-driven culture.
Through our continuous commitment to our people, progress and strong values, we will continue to lead the way. We are a proudly Mauritian organisation with a rich heritage of entrepreneurship and foresight, ever learning from our past to build something better for today and for the generations to come.
5 values at heart : Foresight, Integrity, Responsibility, Passion, and Openness.
Today, Currimjee Jeewanjee and its subsidiaries collectively employ 1,081 talented individuals while servicing more than 800,000 customers. This places a specific responsibility on the Group to ensure that we continue to invest and innovate to be able to meet our customers’ expectations. Being responsible corporate citizens, the creation of sustainable value for our stakeholders and the society is also of utmost importance.
Our First Integrated Annual Report
On behalf of our Board of Directors and Leadership team, it gives me great pleasure to present Currimjee Jeewanjee’s first Integrated Report <IR>. Based on the guiding principles set out in the International Integrated Reporting Council’s framework, we have taken the first steps towards sharing a holistic vision of how we derive and create value for all our stakeholders.
Back in 2015, the Group celebrated 125 years of presence in Mauritius and undertook a major rebranding exercise alongside renewing our purpose and values. These set of values heavily inspired our decision to deliver our first <IR>.
"Together building a better tomorrow through a value-driven culture" is the main theme for this year’s IR. I believe that this report will henceforth be an essential element of the Group’s communication with its stakeholders while also providing information to anyone who has an interest in the Group’s activities and performance.
This journey supported the evolution of the organisation’s “Integrated Thinking” approach, resulting in more inclusive decision-making, management and reporting processes based on the connectivity and dependencies between different departments and businesses of the Group. Indeed, this has strengthened the team and will contribute to enhancing our value creation over time.
In 2015, CJ underwent a rebranding exercise and reviewed its set of values. Our adopted purpose of “Together, building a better tomorrow through a value-driven culture” and the series of activities in conjuction with the organisation’s initiatives that followed have reinforced the synergy across the different units of the Group.
As a result, we have a more engaged workforce geared to deliver beyond our customers’ expectations and ensuring sustained value creation for our key stakeholders.
Our strategic planning process and governance systems are instrumental in allowing us to reinforce sustainable value in the medium to long term.
Repositioning CJ’s businesses mainly through review of its portfolio
Addressing risk concentration through diversification of our business portfolio
Build organisational strength and achieve optimum operational excellence by…
Create long-term stakeholder value through…