I am pleased to present the annual report of Dis-Chem for the 2024 financial year. It is with great pride that I reflect on the achievements and milestones attained by our Company over the past year despite the numerous challenges posed by the ever-evolving business landscape.
Larry Nestadt
As we navigate through uncertain times, we must acknowledge the dedication and resilience of our team, whose unwavering commitment has been instrumental in steering Dis-Chem towards continued growth and success. Together, we can make better health a reality.In this report, I will outline the company’s key highlights, accomplishments, and strategic initiatives and provide insights into our vision for the future and our unwavering commitment to delivering value to our shareholders.
Operating environment
In exercising our duty of strategic oversight, the Board has remained deeply committed to guiding the Company towards sustainable growth and value creation. We have diligently assessed the company’s strategic direction throughout the reporting period, ensuring alignment with our long-term vision and objectives. By engaging with management, stakeholders, and external experts, we have facilitated robust discussions on emerging trends, market dynamics, and opportunities for innovation. Our strategic oversight has also extended to risk management, with a concerted effort to identify and mitigate potential risks that may impact the company’s performance and reputation. As stewards of shareholder interests, we have upheld the highest governance, transparency, and accountability standards, fostering a culture of integrity and ethical conduct throughout the organisation. Looking ahead, the Board remains steadfast in its commitment to providing strategic guidance and leadership as we navigate the evolving business landscape and strive to deliver sustainable value for all stakeholders.
Stakeholder engagement
Over the past year, the Board has prioritised steering the business towards delivering value for shareholders ethically and responsibly. Simultaneously, the focus remained on making meaningful contributions to all stakeholders through salaries, taxes, levies, and various forms of donations and support. This approach ensures a balanced commitment to the community’s shareholders and broader stakeholders. We invite all our stakeholders to join the journey to a “Better Health Starts Here”.
Risk management
Effective risk management is paramount to safeguarding our organisation and preserving stakeholder trust in today’s complex business environment. One of the key risks we have identified is the potential breach of personal data under the Protection of Personal Information (POPI) Act. This risk significantly impacts our customers’ privacy and regulatory compliance obligations.
Regrettably, Dis-Chem customers were impacted by a personal data breach through a third-party incident during the reporting period. In response to this development, we conducted a thorough investigation to ascertain the extent of the breach and assess our internal controls and processes.
I am pleased to report that Dis-Chem was cleared of any wrongdoing following a comprehensive investigation, and it was determined that the breach did not originate from within our systems or processes. While this incident underscored the ever-present threat of cybersecurity breaches, it also highlighted the effectiveness of our risk management protocols and the resilience of our cybersecurity infrastructure.
Moving forward, we remain steadfast in our commitment to upholding the highest data protection standards and compliance with regulatory requirements, including the POPI Act. We will continue to invest in advanced cybersecurity measures, enhance employee training and awareness, and strengthen our partnerships with trusted third-party vendors to mitigate the risk of future incidents and safeguard the interests of our customers and stakeholders.
ESG
Our commitment to Environmental, Social, and Governance (ESG) principles is central to our corporate ethos at Dis-Chem. We are proud to present our first standalone Sustainability Report, which is now available on our Group website. Dis-Chem believes integrating ESG into our core business and decision-making processes is essential for long-term sustainability. Our sustainability pillars include good environmental stewardship, investing in employees and the communities we serve, practising good business ethics, and providing customer-centric service.