We reach the end of another year, one that has not been without its challenges, especially externally due to the Ukraine war and the subsequent negative economic consequences that have affected everyone, especially our markets. However, positively Covid has been contained with life returning to normal and in Kenya we held a peaceful election that has resulted in an energetic new President.
D&S has had another successful year with a satisfactory financial performance and many important initiatives taken including completion of a new warehouse in Lusaka, the opening of 10 new branches and ongoing redevelopment of the Dundori Rd Head Office premises. A major milestone was retirement of long serving CEO David Gatende and succession by former CFO George Mbugua as well as strengthening the executive team with the appointment of Michael Kanyugi as the new CFO, Desmond Rao as the Chief Information Officer and Benard Karimi as the Group Internal Audit Manager. The evolutionary change has been most successful and we are well placed for the new year.
With the lifting of the Covid constraints this year's Christmas c0elebrations have returned to normal with parties being held throughout the Group. A tradition for the Christmas celebration is awards for Divisions of the Year and though there were many excellent
contributions, Commended Divisions are Supply under Henry Davis for the way they have greatly improved stock management efficiency and Group Shared Services, formerly the Finance Division now headed by Michael Kanyugi, for their excellent work in centralization of group systems and improving management controls. Division of the Year is D&S Tanzania who have had an excellent year closing above budget and establishing D&S Zanzibar as a separate and most successful entity. Well done MD Ben Munyao and his team. Another success has been the Improving Lives initiative where 107 projects have been initiated that have impacted over 200,000 people. This demonstrates our purpose of contributing to the wider society where our products really do improve people's lives.
Looking ahead 2023 will be another busy year with many initiatives planned including the construction of a dedicated Engineering Centre in Tatu, several new branch openings, establishment of a new Service Centre, introduction of the Paygo credit scheme and continued digitalization as we pursue the year’s focus of 'the Future is Digital'.
To conclude I send everyone my warmest Season's Greetings and my deepest appreciation to all D&S stakeholders including customers, suppliers and most importantly staff for your great support over the past year as without you we would be unable to achieve what we have. I also pass everyone my best wishes for a healthy, successful 2023.
