IBERSOL | Integrated Management Report - 2024

INTEGRATED MANAGEMENT REPORT 2024 KFC ended 2024 with 11 restaurants in operation, following new openings: a Drive Thru in Viana and another in Camama. On the other hand, we continued with our remodelling plan, having refurbished the image of the restaurant located in Maculusso. The macroeconomic context in Angola continues to be conditioned by the evolution of the Kwanza against the main international currencies (USD, Dollar and Euro), as well as by domestic inflation which has led to a loss of purchasing power for the general population. The exchange rate fluctuated in two stages: one of strong devaluation until mid-2024 and a second of appreciation and even stabilisation towards the end of the year. However, inflation remains high at close to 20 per cent at the end of the year. With a view to counteracting our consumers’ economic difficulties, we continued to invest in a strong promotional component (Street Wise with three different price offers: “Wednesday Promotion”, “Crazy Fridays” and the “A lot for a little” campaign), which is highly competitive in terms of price. The brand reinforced its digital communication plan via Facebook and Instagram, having seen the number of fans on Facebook and Instagram grow, while maintaining its focus on other means of communication, such as digital tools, billboards and radio. We have maintained a clear commitment to the ongoing training of our employees in order to develop the know-how of local staff, in addition to training the teams of the new restaurants opening in 2024. As part of our social responsibility initiatives, we once again participated together with the Pizza Hut brand in the “AD HOPE” social support initiative against hunger. Also as part of social support, the company continued to offer used oil for recycling, which was used to produce soap for the most disadvantaged populations. ANGOLA 63