Connecting Our world to yours

2019 Integrated Annual Report

We are specialists in prepaid products and the electronic distribution of virtual merchandise and value-added services including the full and seamless reconciliation of billions of nano transactions. The ability to process very small transactional values at minimal margin is a key differentiator for the Group.

We combine technical innovation with entrepreneurial flair to bring products and services associated with the developed world directly to the doorsteps of people who may be geographically and economically isolated from the mainstream. By so doing, we create jobs, support the growth of small businesses, and assist in bridging the digital divide. Our Company philosophy is to relentlessly drive financial inclusion for the mass market.


Below is a snapshot overview of Blue Label’s financial performance for the year ending 31 May 2019

Revenue of



Increase in gross profit of 16% to



Increase in gross profit margin from 8.54% to


Headline loss of


cents per share

Core headline lof of


cents per share**

*On inclusion of the gross amount generated on “PINless top-ups”, prepaid electricity and ticketing, the effective increase equated to 10%from R52.7 billion to R57.8 billion

*On exclusion of negative contributions by Cell C, Oxigen Services India group, fair value downward adjustments and impairments, core headline earnings per share from the balance of the entities within the Blue Label Group equated to 98.98 cents per share

View highlights

The RITE strategy and the six capitals

The key elements of Blue Label's strategy to grow and maintain shareholder value are Reach, Innovation, Trust and Efficiency. This strategy was developed during the 2018 financial year and has been deeply embedded in the operations of our business units and in Blue Label's culture. In allocating our capital to our strategy's levers and among the various value drivers, we need to consider the trade-offs between the six capitals which describe the resources available to us. The IIRC describes the six capitals as stocks of value that are affected or transformed by the activities and outputs of an organisation.

All our decisions are made through seeking to maximise positive outcomes and mitigate negative impacts.

Continues to expand all our distribution channels in banking, retail, independent and informal markets. Expanding our reach also encompasses adding innovative products to our product portfolio. We are a magnet for foot traffic.

on reach


Platform renewal, improvement, innovation and transformation remain key to our central mandate of delivering world-class, customer-centric solutions across our businesses. Agile systems create the needed flexibility to service our markets.

on innovation


We have redesigned our operating structure to improve the ability to service customers according to their needs. Building trust with merchants, suppliers and customers is key to business success.

on trust


Efficiency of business processes and capital allocation will dominate our actions into the future. We need to deliver returns to all stakeholders.

on efficiency