By: Raphael Ndakala Atanda
Car & General held its 85th Annual General Meeting on Thursday, June 19, 2025 for the year ending 31 December 2024. During the virtual meeting, shareholders approved the recommended dividend of Shs 64,165,293 which is equal to Shs 0.80 per share.
Shareholders approved the retirement of Madabhushi Soundararajan as a member of the Board. Soundararajan joined the Board in 2008. They also approved the appointment of Nikhil Rustam Hira as an Independent Non-Executive Director.
Car & General saw various challenges during the period due to constraints in the Kenyan market, especially the boda boda business. Operational sustainability was achieved by the company’s transition to other business lines.
As a result, turnover for the twelve-month period ending 31 December 2024 was Shs 21 billion against Shs 27 billion achieved in the fifteen-month period ending 31 December 2023 compared to Shs 2.1 billion in prior year. EBITDA (Earnings before interest, tax, depreciation and amortization) was Shs 1.5 billon and the Group made a profit before tax of Shs 526 million against a loss of Kshs 273 million in the previous year. The Company believes that uncertainty will persist in 2025 given the challenging global geo-politics although East Africa will see less turbulence.
Speaking after the AGM, Car & General CEO said, “Key to success will be maintaining strict fundamentals in terms of higher efficiency levels in all areas of business, maintaining market share in core products and achieving productivity across all business. We have a balanced business with five distinct business lines; automotive and equipment distribution, real estate investment, financial services, poultry and helmet manufacturing. This diversity, coupled with a broader geographical reach is the backbone of our sustainability.”
Car & General is a diversified distributor of TVS motorcycles, Piaggio three wheelers, Kubota tractors, Toyota forklifts, Cummins generators, Develon earthmovers among other equipment in East Africa. Car & General was the pioneered the use of two and three wheelers as taxis in Kenya over two decades ago.
Raphael Atanda works at Car & General (Kenya) Plc as Head of Communications, raphael.atanda@cargen.com
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