confidence - Investing In Africa

Management Discussions & AnalysisOperation Review (cont’d)BSBMM also successfully installed Reuters in view of the introduction of theContinuous Foreign Exchange Market.BSBMM is now using the Moody’s Financial Analyst tool for credit risk portfoliomanagement to further enhance its risk management practices.BSBMM intends to provide training opportunities in specific banking skills withthe help of the Centre National de Formation Bancaire (CNFPB) whilst providingadditional responsibilities to some bright and deserving young Malagasy staffto enhance staff motivation, increase skills sets and enable appropriatesuccession and career planning.• Support ServicesService Delivery ChannelsSBM has an extensive distribution network with 47 Service Units including 3 inIndia, 1 in Madagascar; 4 counters – one at the airport in Mauritius, 3 inRodrigues (at the airport, at Mont Lubin and La Ferme); 102 ATMs (63 attachedto Service Units and 39 off-site); 1400 POS, Phone banking; Internet bankingand also an E-Commerce Portal.TopUp facilities for prepaid mobile phones (for buying of air time) were introducedat ATMs in November 2003, and this was followed in July 2004 via SMS on mobilephones. To date, the Bank is still the only bank that can offer TopUp via SMS. TopUpfacilities were further extended through an internet portal (www.topup.mu).As from June 2005, this service is alsoavailable on Point of Sales at variousmerchant locations.During May 2005, SBM launched thefirst fully operational Europay-MasterCard-Visa (EMV) chip card insub-Saharan Africa. Chip cards offernew payment options and services,greater security and moreconvenience and choice comparedto traditional magnetic stripe cards.Chip cards also provide additionallevels of security as they storeencrypted data using algorithms.Roll out of the EMV chip cardscommenced in August 2005 and willbe completed within the next twoyears and ATMs have been upgradedto accept the new chip cards.91“SBM is the only bank in Mauritius offering CHIP cards, which comprise new payment options and services,greater security and more convenience and choice compared to traditional magnetic stripe cards”