G4S Botswana releases its 2021 Annual Report

By Published On: June 17th, 2022Categories: Corporate announcement, Earnings
G4s Botswana Limited 42021 Annual Report

G4S Botswana Limited (G4S.bw) 2021 Annual Report

CHAIRPERSON’S REPORT

The Year in Review

We have once again seen a very eventful year; as the world slowly tried to recover from the effects of COVID 19, there was a break-out of new variants further exacerbating the situation. On the economic front, hyper-inflation and rising fuel prices put pressure on our financial performance.

A new security threat to our cash in transit vehicles was introduced to the cash business nationwide through cash heists. A great collaborative effort with the Botswana Police has gone a long way to prevent the situation from deteriorating and assisted us in protecting the lives of our front-line employees. Amidst these challenges, I am pleased to report a marginal growth in revenue. The team worked extremely hard to continue to protect shareholder value and provide excellent service to our customers.

Governance

I am pleased that the Board and its Committees continued to oversee issues of governance and worked hard ensuring that all regulatory matters are complied with. The Board has a good mix of skills and experience which allows us to provide strategic guidance with no operational interference. This year the Board participated in a Board assessment carried out by an independent assessor in line with requirements and this will continue to be carried out to achieve continuous improvement of governance. During the period under review, the Board welcomed a new member, Renso Smit, who replaced Edward Ueckermann who he has moved on to pursue other interests. We are grateful to Edward for the value that he added to the Board during his tenor and wish him well in his new journey. As the business landscape changes the Board will look for new talent to join as Board members.

Looking Ahead

We remain hopeful that we will be able to navigate the current economic challenges through the strategy that we have developed. We will continue to engage our customers to find win-win solutions to mutual problems and engage our competitors to develop some solid collaborations to address common issues.

We believe we will be able to find exceptional technology from Allied Universal who have now globally acquired G4S which will aid our strategy of providing affordable integrated security solutions to our customers.

A Word of Gratitude

We continue to purposefully commit to zero harm to our employees and customers and are grateful that we have not lost any one of them through the armed robberies that have so far been the number one threat to our cash business. We were not spared from the impact of COVID-19 and lost a few of our employees to the pandemic. We are grateful to the families of our employees who continued to encourage them to continue as frontline workers in the midst of the fear of COVID that permeated every industry, especially while the Delta variant was aggressively taking the lives of many.

I am particularly pleased by how they have braved all the armed robberies and attacks we experienced and remained resilient in service provision. The leadership of the executive is quite evident and I appreciate their efforts in leading from the front in the terrain of virtual management which most companies are still new at especially in our type of business which often requires physical interaction.

I would like to express gratitude to our investors who have trusted us with their priceless investments. We remain indebted to our valuable customers for trading with us and putting our products and services to great use.

I wish to thank the Board for their leadership and provision of their varied skills and the G4S Group for their support to the Botswana business.


G4S Botswana Limited (G4S.bw)

Share price: 265.00 Thebe (0.00 | 0.00% – 10/08/22)