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The Directors are responsible for preparing the financial statements in accordance with International Financial Reporting Standards, International Accounting Standards and The Companies Act 2001 of Mauritius. The Directors must ensure that the provisions of The Companies Act 2001 of Mauritius, The Banking Act 2004 (amended August 2020) and Financial Reporting Act 2004 (amended 2018) are complied with. They must also ensure that the financial statements are free from errors, material misstatements or irregularities and that any non-adherence is disclosed, explained and quantified.


AfrAsia Bank’s sustainability strategy is centered around its 4 pillars: Workplace, Marketplace, Social and Environmental Responsibilities. Since 2016, the corporate sustainability and Corporate Social Responsibility (CSR) department has been actively growing these 4 pillars through various projects and the integration of the Sustainable Development Goals (SDGs).

For this financial year, the environmental and social performance of the Bank have been detailed in a separate, dedicated sustainability report. Based on the International Global Reporting Initiative (GRI) and the Integrated Reporting (IR) framework, this report focuses on how value is created at the Bank through the six capitals and features the extra-financial key performance indicators (KPIs) in a transparent and understandable manner. ABL submitted its first Global Reporting Initiative (GRI) Index last year as per its commitment to advocate sustainability and become known as a sustainable brand.

AfrAsia Bank’s 2021 sustainability strategy:

Social Responsibility: Social and Relationship CapitalEnvironmental Responsibility: Natural CapitalMarketplace Responsibility: Financial, Manufactured, Intellectual CapitalsWorkplace Responsibility: Human CapitalBeing an employer of choiceBuilding positive links with the communities around usMeasuring and reducing our environmental impactFocusing on client centricity and qualityPlanetAdvocatingSustainabilityInvestorRelationsPeopleResearch & DevelopmentSustainableBrand


Sustainable Human Resource (HR) is a core focus of the sustainability department this year. We will continue to report on various aspects of Human Capital in our Sustainability Report as per the GRI guidelines in our Sustainability Report 2020. Several projects are in the pipeline in collaboration with the HR department.

Strategy for development of Workplace Responsibility Pillar:

Workplace ResponsibilityFormalisation and review of all policies.Reporting on variousaspects according toGRI Standards since2018.In progress: Staff participation in CSR activities; Staff welfare (Dedicated Budget in HR department); and Project on Diversity & Equal Opportunity.Human CapitalSustainable HR


The focus for this upcoming financial year is the growth of the marketplace responsibility pillar. With the launch of the Green Car Loan in October 2019, ABL has taken its first step towards the development of an extensive Green Product Portfolio for its clients. We will undertake a transparent and balanced reporting for all our stakeholders in our Sustainability Report 2020. Details on projects under Manufacturing and Intellectual Capitals is disclosed.

Strategy for the development of Marketplace Responsibility Pillar with focus on the development of sustainable product portfolio:

MARKETPLACERESPONSIBILITYFINANCIALCAPITALINTELLECTUALCAPITALMANUFACTUREDCAPITALDEVELOPMENT OF SUSTAINABLE PRODUCT PORTFOLIOGreen Car LoanLaunched in October 2019AfrAsia Bank Structured Deposit - iSTOXX Global Cities of Tomorrow Select 30 IndexLaunched in June 2020In Progress1. Agence Française de Développement2. Other Internal Products


Strategy for development of Environmental Responsibility Pillar:

ENVIRONMENTALRESPONSIBILITYNATURAL CAPITALReporting on electricity consumption and paper usage since 2018Partnership with BEM recycling for Electronic wastesIn ProgressWaste review - new bins and new strategy for recycling


Strategy for the development of Social Responsibility Pillar:

EDUCATIONAfrAsia SchoolHEALTHPartnership with Link to LifeENVIRONMENTEducational App on environmental awarenessAFRASIA FOUNDATIONShaping A World of DifferenceSOCIALRESPONSIBILITYSOCIAL AND RELATIONSHIP CAPITAL

As a responsible bank, ABL commits to continue reporting on its environmental strategy and associated Key Performance Indicators (KPIs). This is in line with our plan to reduce our carbon footprint.

Our waste management strategy at both Ebene and Port Louis premises are being reviewed integrally to promote recycling and reduce waste.


The development of the social responsibility pillar is done through the AfrAsia Foundation; whose main project is AfrAsia School. Beneficiaries for AfrAsia School are carefully selected in collaboration with the Non-Governmental Organisation (NGO), Ti Rayons Soleil. Amongst the various programmes implemented are: Pre-primary education, food support system, after school care, adult literacy for the parents etc.

In addition, AfrAsia Foundation is involved in several projects such as the development of a gaming app on the environment, partnership with Link to Life (e.g. fundraising through Movember for the NGO) and other initiatives.

A council governs the fund management of AfrAsia Foundation and the accounts are audited by an external auditor on a yearly basis.

A dedicated section on the foundation and corporate social responsibility is available in our Sustainability Report 2020 through which all projects as well as the allocation of funds are detailed.


As part of its commitments towards the SDGs, ABL has been striving to create meaningful partnerships in the business community to promote the 17 SDGs as follows:

  • ABL is a participant of the United Nations Global Compact (UNGC) since 2015.
  • The Bank is one of the pioneers in the development of the local network of the Global Compact in Mauritius. The Head of Corporate Sustainability and CSR is the chairperson of the Advisory Council of the network.
  • Since 2018, ABL has launched the AfrAsia Bank Sustainability Summit, a platform through which international and local players in sustainability collaborate to share best practices and innovative ideas. This event marks the commitment of the Bank to increase the global understanding of sustainability.
  • Since 2019, AfrAsia Bank is a member of the GRI Community, which is a global community of practice and knowledge sharing on sustainability trends and reporting.

GRI Community member since 2019

Participant in the United Nations Global Compact
(UNGC) since 2015

For further details on the outlook of AfrAsia Bank through the sustainability lenses, the full report is published on the Bank’s website:

The Annual Report is published in full on the Bank’s website. (

The financial statements are set out in Section B of the Annual Report. 

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