2022 in summary

Dear stakeholder

2022 was a year of survival and recovery.
We now have our eyes firmly locked on the prospect of thriving.

While 2022 was a difficult year due to weak economic conditions, continued COVID-19 trading restrictions and civil unrest in South Africa, there were still several highlights. These include the continued growth of our brand footprint, steady execution of our corporate strategy and a marked improvement across all our financial metrics.

We also stayed true to our purpose of nurturing our franchise partners so that they can positively impact their communities. While limiting our profitability in the short term, our continued support to franchise partners will result in a stronger and more sustainable business in the future.

As the economy recovers, we are well-positioned to grow our business and enhance our position as Africa’s leading food services franchisor. Our strategy is designed to meet tomorrow’s key challenges and take advantage of the opportunities.

We invite you to read more about our commitment to delivering long-term value for all stakeholders in this report.

Darren Hele

Chief Executive Officer (CEO)