Automobile Association of Kenya (AA Kenya) has called its Annual General Meeting (AGM) for Tuesday, 25th November 2025, to be held virtually at 10:00 am. The meeting will focus on key corporate matters, including approval of financial statements for the year ended 31st December 2024, declaration of dividends, re-election of directors, and a major proposal to split the company’s shares and progress toward its demutualization.
The AGM, which will be conducted online, underscores the association’s commitment to transparency and modernization as it transitions from a member-based association to a fully demutualized public company. Shareholders will be asked to consider both ordinary and special business, reflecting significant developments in AA Kenya’s corporate structure and governance.
According to the notice issued by the Company Secretary on 27th October 2025, the Board has recommended a first and final dividend of KSh 1.00 per share, payable on or about 31st October 2025 to shareholders on record as of that date. Each share has a par value of KSh 8.00.
The dividend proposal signals a continued return of value to shareholders despite a challenging macroeconomic environment that has affected Kenya’s motoring and insurance industries. AA Kenya’s move to maintain a steady dividend payout highlights its resilience and commitment to its investors as the company implements long-term growth strategies.
Shareholders will also receive and consider the Audited Financial Statements for the year ended 31st December 2024, together with the reports of auditors and directors. The meeting will seek approval for the reappointment of PKF Kenya LLP as the company’s external auditors for another year, ensuring continuity and stability in financial oversight.
Additionally, the Board will seek shareholder approval for the remuneration of directors for the same period, in line with the company’s governance and remuneration policies.
One of the key agenda items involves the re-election of the current Board of Directors until the completion of the ongoing demutualization process. The company is progressing toward full compliance with the Capital Markets Authority’s (CMA) requirements for transformation into a public limited company, a process that began several years ago.
Following completion, the normal rotation and election process for directors will resume, marking a significant milestone in AA Kenya’s corporate evolution.
The most notable agenda item under special business is a proposal to subdivide the company’s existing ordinary shares. The plan, anchored on Article 5 of AA Kenya’s Articles of Association, seeks to split the par value of each ordinary share from KSh 8.00 to KSh 0.50, resulting in sixteen new shares for every existing one.
The purpose of the share split, according to the notice, is “to enhance liquidity and broaden shareholder participation.” This adjustment would increase the total number of issued shares while maintaining overall capital value.
In addition, the Board is proposing the capitalization of retained earnings amounting to KSh 49,093,320 through the issuance of 6,136,665 new ordinary shares of KSh 8.00 each. These bonus shares would be allotted to existing shareholders in the ratio of one (1) new share for every five (5) existing ordinary shares held, further rewarding shareholders for their long-term investment.
The Board also revealed its intention to seek regulatory approval for the introduction of AA Kenya’s shares on the Nairobi Securities Exchange (NSE). This move, if approved, would mark a historic step in the company’s 100-year legacy, opening the door for broader investor participation and greater transparency.
“The Board of Directors is authorized to take all actions necessary to give effect to the resolutions, including the allocation of shares, filing of required documentation, and engagement with the Capital Markets Authority and other regulators,” the notice states.
Listing on the NSE would position AA Kenya as the first automotive mobility solutions provider to go public in East Africa, further cementing its leadership in road safety, driver training, insurance brokerage, and automotive assistance services.
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