The State Trading Corporation is committed to good Corporate Governance in the performance of its activities.
To be a socially responsible, value-adding organization doing business based on best practices.
To consistently deliver quality strategic products at affordable prices to our customers in a socially responsible manner while maintaining high ethical standards in the conduct of our business.
- Importing and supplying strategic products.
- Enhancing the logistics to secure continuity of supply of strategic products.
- Ensuring end-to-end Customer Excellence whilst safeguarding the environment.
- Driving the development of Petroleum Hub.
- Optimizing the use of technology to improve processes and quality of service.
The Corporation has a Unitary Board, headed by a non-executive independent Chairman with eight members constituting of representatives of different Government Ministries/Departments as well as members nominated by the Minister in accordance with the STC's Act.
The board is assisted by the following sub committees:
Board has approved the following Charters:
ii. Staff and Remunerations Committee Charter
iii. Corporate Governance Committee Charter
* The internal Audit Division functionally report to the Audit & Risk Committee of the Board List of Managers. Being a parastatal body, STC is governed by the provisions of the PRB.
Being a parastatal body, STC is governed by the provisions of the PRB.
Commercial
It is responsible to ascertain the regular availability of Strategic Commodities on the local market and to ensure that consumers get quality products at affordable price. It also participates in promoting/developing Mauritius into a Petroleum Hub.
Risk and Treasury
To ensure efficient utilisation of funds and timely procurement of foreign currencies at competitive rates.
Finance
To ensure effective and efficient management and control of the Corporation’s Financial resources so that the organisational objectives are achieved. The Finance Division also ensures compliance with the applicable Financial Guidelines, Board decisions and applicable Laws & Regulations.
IT
It is responsible for the IT infrastructure and provides timely and effective support and assistance to users so as to ensure continuity of IT operations and to protect the confidentiality, integrity and availability of information.
Internal Audit
It assists the organisation in accomplishing its objectives by evaluating and making recommendations to improve the effectiveness of internal control, risk management and governance processes.
Communication
It is responsible for all internal and external communication of the STC using the appropriate channels of communication.
Supplies and Sales
It is responsible to ensure storage of rice and flour in safe and hygienic conditions. It sells and delivers these products to STC’s customers for onward distribution to the general public.
HR
It is responsible to ensure compliance with HR Regulations in force as well as, assists in the recruitment, development and retention of a high performing and diverse workforce. It also fosters a healthy, safe and productive environment for STC’s employees that promotes team building and good business ethics, in order to maximize individual potential and meet the organizational needs.
Administration
It ensures the provision of administrative and logistic assistance to all the other divisions of the Corporation. It is mainly involved in procurement of goods of services, maintenance of the premises and assets of the Corporation and the management of Registry.
Secretariat
It ensures that there is compliance to the provisions of STC Act, Statutory Regulations and the Company Act (where applicable) and that the business and affairs of the Corporation are conducted in accordance with its objects as contained in the Act . It serves as a necessary link between Board and Management and therefore coordinates the transmission, recording and follow up of decisions taken, instructions and advice from the Board to Management and requests for clearance on policy and strategy decisions from Management to Board. It also maintains the Corporation’s statutory as well as legal register.
STC has invested in the acquisition of hardware and software to enhance the security of its IT system. The Corporation ensures that the IT resources are properly and optimally used to provide information needed to achieve its business objectives. Our IT policy, as approved by Board, provides for security of data, accountability, safe use of IT equipment as well as compliance with laws and regulations.
The IT Policy mainly covers:
- Security and Integrity
Emphasis is drawn to the fact of how data/information is crucial for the proper functioning of the Corporation and how information may lose its integrity through loss, omissions, negligence of malicious intent.
- Confidentiality
The IT Policy explains how STC’s information is to be treated as private and confidential unless expressly stipulated otherwise. For e.g. Accounts and Reports are to be posted on STC’s website or to be disclosed to any authorized party. Confidentiality of all data is maintained through discretionary and mandatory access controls.
- Business Use
Computers and any other communication, storage, media and peripheral systems must be used primarily for business purposes.
- IT Equipment Acquisition and Usage Policy
Users are hereby guided on how to make proper use of computers and other IT equipment so as not to compromise the security and the integrity of the computer system.
- Internet Usage
This policy outlines guidelines on using STC’s internet connection so as to avoid inappropriate internet use that may create risks for STC’s reputation.
- Email Policy
E-mail and messaging facilities are provided by the Corporation for business use to enable users perform efficiently and communicate effectively. Users are guided on how to make good use of same and not to compromise the image of the Corporation.
- Copyrights and Licenses
The Corporation is committed to ethical conduct in matters to copyright and licenses and as such STC respects all copyrights and does not copy, retrieve, modify or forward copyrighted material.
- Business Continuity Plan
STC has a business continuity plan to ensure continued availability of business essentials and critical services.