Over the last two years, our company has accelerated its effort to embed Integrated and SDGs Thinking and as a result of this, we effected a number of changes in the organisation to transform our business model focus from “Short-Term Profitability” to “Long-Term Value Creation”. We started the thinking process in 2015 and set in motion a number of actions that saw us terminate lines of business while opening new ones in 2016/2017. As long-term in our business is defined as five years, we have geared ourselves for a transformation based on quantitative results by 2021. However, we are satisfied that we are already seeing early results based on the factors described below
Net Profit as well as margins are on the rise. For the first time in our history, Profit before Tax reached MUR 29Mn, led by our IT Business. Moreover, both our Fintech and Smart City startups are profitable in their first full year of operations which makes us one of the few in the world, a testament to the robustness of our business plans.
After the PwC Corporate Reporting Awards, we have been selected by ACCA Global as a case study in Integrated Reporting. Futhermore, we were the first African company to have been nominated by ICAEW/A4S/ Deloitte in two categories for the Finance for the Future 2018 Awards, namely: Embedding an Integrated Approach and Innovative Project. Finally, we were also nominated for “Companies to Inspire Africa 2018” published by the London Stock Exchange. The selection process of these global institutions reinforces the effectiveness of our ecosystem.
After the PwC Corporate Reporting Awards, we have been selected by ACCA Global as a case study in Integrated Reporting. Futhermore, we were the first African company to have been nominated by ICAEW/A4S/ Deloitte in two categories for the Finance for the Future 2018 Awards, namely: Embedding an Integrated Approach and Innovative Project. Finally, we were also nominated for “Companies to Inspire Africa 2018” published by the London Stock Exchange. The selection process of these global institutions reinforces the effectiveness of our ecosystem.
At Anglo African, we have also realised that due to the size of our company, it is difficult to create regional or lasting impact based on our internal actions. However, we believe that through our Decentralised Value Creation, the external impact of our subsidiaries can and are having a regional impact. In particular, our focus on Integrated and SDGs Thinking are already adding to our broad value creation, as recognised by respected global institutions.
Consolidation is now key to our company as any period of transition, especially as deep as the one we have gone through over the last 18 months [Business Model, People, Mindset, Markets, Etc …], is bound to generate instability. The new management team is now busy pushing ahead full steam while at the same time remaining vigilant to any risk in order to maintain our projected profitability trend, with 20% PAT Efficiency by FY2021 being the litmus test!
Our future is in Decentralised Value Creation; once our subsidiaries embrace Integrated Thinking in an inclusive way, connecting all the different capitals that are important for their businesses; improve or terminate business activities so that the value created in the medium- to long-term is in line with our vision, with SDGs embedded, we will have a bright future… We are confident about this as the future is all we’ve got!