Statement of Directors’ Responsibilities

The Kenyan Companies Act, 2015 requires the Directors to prepare consolidated and separate annual financial statements for each financial year that give a true and fair view of the financial position of the group as at the end of the financial year and of its profit or loss for that year. It also requires the Directors to ensure that the group maintains proper accounting records that are sufficient to show and explain the transactions of the group and disclose, with reasonable accuracy, the financial position of the group. The Directors are also responsible for safeguarding the assets of the group, and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors accept responsibility for the preparation and presentation of these consolidated and separate annual financial statements in accordance with the International Financial Reporting Standards and in the manner required by the Kenyan Companies Act, 2015. They also accept responsibility for:

• designing, implementing and maintaining such internal controls as they determine necessary to enable the presentation of consolidated and separate annual financial statements that are free of material misstatement, whether due to fraud or error;
• selecting suitable accounting policies and applying them consistently; and
• making accounting estimates and judgments that are reasonable in the circumstances.

Having made an assessment of the group’s ability to continue as a going concern, the Directors are not aware of any material uncertainties related to events or conditions that may cast doubt upon the group’s ability to continue as a going concern.

The Directors acknowledge that the independent audit of the consolidated and separate annual financial statements does not relieve them of their responsibilities.

The consolidated and separate annual financial statements set out on pages 35 to 82, which have been prepared on the going concern basis, were approved by the Board of Directors on March 10, 2023 and were signed on their behalf by: