Welcome to our annual Compliance Week for year 2024, a cornerstone of our organisation’s commitment to integrity, accountability, and operational excellence. This week, we gather to reflect on our core values and sharpen our focus on the principles that ensure our long-term success.

Compliance is more than a legal or regulatory obligation; it reflects our corporate values and the foundation upon which trust is built with relevant stakeholders. As we step into this week, our mission is clear: to ensure that every employee understands their role in safeguarding the integrity of our operations and reinforcing the ethical framework that guides our actions.

This year, we are placing a significant emphasis on critical compliance pillars that are not just essential, but also pivotal to the future of our business, including our commitment to Internal Control over Financial Reporting (ICOFR).

Internal Control over Financial Reporting (ICOFR) is essential in ensuring the accuracy and reliability of our financial statements. It plays a pivotal role in maintaining investor confidence, complying with regulatory requirements, and contributing to the overall financial health of our business.

As a Group, our goal is to lead in compliance and corporate governance, as demonstrated by the recent recognition of two of our business units, Dangote Cement Plc and Dangote Sugar Refinery Plc, at the inaugural corporate reporting award jointly organised by the Institute of Chartered Accountants (ICAN) and the NGX Regulation Limited where both companies were nominees.

It was a delight that our Cement Business Unit received the overall combined best award in Financial Reporting, Corporate Governance, and Sustainability, along with the best award for excellence in Corporate Governance, surpassing other major industry players in both categories. This achievement serves as a call to all stakeholders to uphold and further improve our success in compliance and corporate governance by going beyond the standards we have set for ourselves.

This year, we have implemented several enhancements to our internal controls, some of which will be discussed during the week. I therefore invite all staff to attend the webinar on 7th November 2024, where we will discuss ICOFR. Everyone is responsible for ensuring that our financial reporting processes are robust and compliant with regulatory requirements.

Commitment to Continuous Improvement

While Compliance Week is a dedicated time to reflect on critical areas of our operation, our commitment to compliance must be a year-round effort. We must continuously ask ourselves: Are we doing enough to meet and surpass our ethical and regulatory obligations? Are we proactively addressing risks and maintaining the highest standards?

Our work on ICOFR is only part of this infinite journey. We will continue to invest in training, system enhancements, and employee engagement to stay ahead of the curve in this rapidly changing environment.

In closing, I want to highlight that compliance is not just the responsibility of a few. It is the responsibility of us all. Our shared commitment to ethical behaviour and operational integrity will ensure we continue to thrive.

I commend your dedication and unwavering commitment to the values now associated with the Dangote Group. Let us use this Compliance Week to recommit ourselves to excellence in everything we do.

Thank you.