BUSINESS OVERVIEW

In 2008, the decision was taken to centralize all administration and processing functions in Mauritius into a single Business Process Outsourcing (“BPO”) hub that would operate at arm’s length from other Group entities. This BPO hub is now known as Pivot International Limited (“Pivot”). Mauritius was chosen as the location for Pivot for a number of reasons:

• Regulated environment with sophisticated financial and banking sector
• Highly skilled, bilingual workforce
• Times zone (2 hour ‘head start’ versus countries on Central African Time)
• Double taxation treaties with most African countries
• No exchange control restrictions affecting the ability to repatriate funds

Each of the Select trading company’s have entered into a Service Level Agreement with Pivot under which Pivot provides accounting as well as risk loan book processing and administration services in exchange for an administration fee. Pivot’s systems enable loan officers to quickly and efficiently process loan applications with the benefit of robust credit vetting processes and online document management capabilities.