GenAfrica Asset Management Limited sometimes referred to as GenAfrica Asset Managers, announced a net profit of 76.1 million Kenyan Shillings at the end of the first half of 2020. This is an increase from the 68.9 million Kenyan Shillings profit recorded in the same period in 2019.
The company’s management fee increased from 255.9 million Kenyan Shillings to 275.1 million Kenyan Shillings. Its Total income also boosted from 260 million Kenyan Shillings, to 281.1 million Kenyan Shillings while its profit pretax, also increased to 111.9 million Kenyan Shillings from 101.5 million Kenyan Shillings.
Its Total Expenses however, moves up to 169.1 million Kenyan Shillings from 158.5 million Kenyan Shillings.
GenAfrica saw an increase in the size of its balance sheet to 549.1 million Kenyan Shillings from 412.8 million Kenyan Shillings. Its Total Shareholders Funds also rose from 315.4 million Kenyan Shillings, to 339.6 million Kenyan Shillings alongside the Total Comprehensive Income increased from 71.7 million Kenyan Shillings to 74.1 million Kenyan Shillings.
GenAfrica Asset Management Limited is licensed by the Retirement Benefits Authority as well as the Capital Markets Authority to operate as Fund Managers in Uganda and Kenya and is currently 90.84 percent owned by Kuramo Capital Management Limited. Its staff and management own 9.16 percent.
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