OUR BUSINESS AND STRATEGY MATTERS IMPACTING VALUE CREATION (cont’d) Business Strategies r $POTUBOU FOHBHFNFOU XJUI NVMUJQMF TUBLFIPMEFST UP JNQSPWF UIF EFMJWFSZ DIBOOFMT PG DPODFTTJPO BOE DPNNFSDJBM services. This entails constant dialogue with relevant stakeholders in the Government agencies with which MYEG has concessions. GLOBAL AND DOMESTIC MACROECONOMIC CONDITIONS r *O ': HMPCBM FDPOPNJD HSPXUI IBE NPEFSBUFE UP KVTU "NPOH GBDUPST IBNQFSJOH FDPOPNJD SFDPWFSZ to pre-pandemic levels were continued disruptions in global and international supply chains, ongoing geopolitical tensions and conflicts, trade wars, higher energy costs including oil and gas and a higher interest rate environment, brought on by the revision of rates by the US Federal Reserve. Adding to these were a slower than expected recovery of major economies, notably China. r *O MJOF XJUI HMPCBM FDPOPNJD HSPXUI USFOET .BMBZTJB T HSPTT EPNFTUJD QSPEVDU iGDP”) moderated to 3.7% in FY2023. Growth moderated amid a challenging external environment, due mainly to slower global trade, the global tech downcycle, geopolitical tensions and tighter monetary policies. r /FWFSUIFMFTT .:&( T àOBODJBM QFSGPSNBODF SFBDIFE OFX IJHIT JO ': CPMTUFSFE CZ DPOUJOVFE SPCVTU demand for the Group’s existing products and services amid broader resilient household spending in the economy underpinned by improving labour market conditions and given the nature of the Group’s offerings being essential services required by all levels of society. The roll-out of new digital services, particularly decentralised applications, also contributed to MYEG’s increased overall performance. Risks r 8FBLFS FDPOPNJD DPOEJUJPOT NBZ BGGFDU DPOTVNFS BOE CVTJOFTT DPOàEFODF BT XFMM BT JOWFTUPS BQQFUJUF UIVT leading to reduced demand for products and services and weakened investment inflows. Notably, big-ticket items such as cars, houses may see reduced demand as well as reduced applications for business licences and more. With reduced business and consumer activity, service and income tax revenues may also be affected. Opportunities r "T CVTJOFTTFT BOE DPOTVNFST DIPPTF UP EPXOTDBMF FYQFOEJUVSF BOE DPOTVNQUJPO UIFSF BSF TUJMM PQQPSUVOJUJFT for the provision of economical, cost-effective solutions. Competitively priced products and services that meet customers expectations while providing savings and budget optimisation will be able to thrive amidst a challenging, cost-driven market environment. Refer to Strategies to Sustain Value Creation for more information. r *O BEEJUJPO CVTJOFTTFT BOE DPOTVNFST XPVME TFFL BMUFSOBUJWFT JODMVEJOH MFWFSBHJOH UFDIOPMPHZ BOE FYQBOEJOH to new markets, which dovetails with MYEG’s strategic push into the Web3 space through the introduction of decentralised services on the Zetrix blockchain as well as other technologically driven services. Business Strategies r .BDSPFDPOPNJD DPOEJUJPOT BSF CFZPOE UIF (SPVQ T DPOUSPM )PXFWFS .:&( T TUSBUFHJD SFTQPOTF JT UP DPOUJOVF its pursuit of product and market diversification to diversify its revenue streams and to reduce its exposure to socio-economic upheavals in any single geographic market. Refer to Strategies to Sustain Value Creation Section. Significant Capitals r 5IF (SPVQ T FYQBOTJPO BOE EJWFSTJàDBUJPO QMBOT BSF TVQQPSUFE CZ BO BHJMF CVTJOFTT NPEFM UIBU JT NBSLFU agnostic (not dependent on specific domestic conditions and has a high replication factor). MYEG’s business model enables fast market entry and the quick rollout of products, which supports the Group’s ability to respond swiftly to changing socio-economic conditions and market demands. ANNUAL REPORT 2023 43 $POTUBOU FOHBHFNFOU XJUI NVMUJQMF TUBLFIPMEFST UP JNQSPWF UIF EFMJWFSZ DIBOOFMT PG DPODFTTJPO BOE DPNNFSDJBM *O ': HMPCBM FDPOPNJD HSPXUI IBE NPEFSBUFE UP KVTU "NPOH GBDUPST IBNQFSJOH FDPOPNJD SFDPWFSZ *OMJOFXJUIHMPCBMFDPOPNJDHSPXUIUSFOET .BMBZTJB THSPTTEPNFTUJDQSPEVDU i /FWFSUIFMFTT .:&( TàOBODJBMQFSGPSNBODFSFBDIFEOFXIJHITJO': CPMTUFSFECZDPOUJOVFESPCVTU 8FBLFSFDPOPNJDDPOEJUJPOTNBZBGGFDUDPOTVNFSBOECVTJOFTTDPOàEFODFBTXFMMBTJOWFTUPSBQQFUJUF UIVT "TCVTJOFTTFTBOEDPOTVNFSTDIPPTFUPEPXOTDBMFFYQFOEJUVSFBOEDPOTVNQUJPO UIFSFBSFTUJMMPQQPSUVOJUJFT *OBEEJUJPO CVTJOFTTFTBOEDPOTVNFSTXPVMETFFLBMUFSOBUJWFTJODMVEJOHMFWFSBHJOHUFDIOPMPHZBOEFYQBOEJOH .BDSPFDPOPNJDDPOEJUJPOTBSFCFZPOEUIF(SPVQ TDPOUSPM )PXFWFS .:&( TTUSBUFHJDSFTQPOTFJTUPDPOUJOVF
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