Financial Statements Report 2024

The Mauritius Investment Corporation Ltd (M IC) presents its financial statements and corporate governance report of the Mauritius Investment Corporation Ltd (MIC) for the financial year ended 30 June 2024. Below is a summary:

Key Highlights

1. Principal Activities:
   • Supporting financially distressed but viable companies in Mauritius affected by COVID-19.
   • Investing in companies for economic self-sufficiency, innovation, and long-term growth.
2. Governance:
   • Guided by the National Code of Corporate Governance (2016).
   • Maintains a Board Charter defining roles, responsibilities, and decision-making processes.
   • Board consists of independent and non-executive directors with diverse expertise.
   • Sub-committees include the Audit and Risk Committee and Corporate Governance Committee.
3. Financial Performance:
   • Dividends of MUR 490 million were remitted to shareholders.
   • Financial statements prepared in compliance with IFRS and audited by KPMG.
4. Risk Management:
   • Comprehensive risk management framework aligned with enterprise-wide risk monitoring.
   • Principal risks include operational, strategic, credit, market, liquidity, and IT risks.
5. Sustainability and ESG:
   • Developed a framework for responsible investing that incorporates environmental, social, and governance factors.
6. Compliance and Ethics:
   • Maintains a Code of Ethics and Business Conduct to uphold integrity and accountability.
   • Approved a whistleblowing policy to encourage reporting of compliance breaches.
7. Achievements:
   • Hosted the Africa Sovereign Investors Forum, focusing on sustainable development and innovative financing in Africa.

Visit the link to read our Financial Statements report for the year 2024.