AA Kenya is set to join the Nairobi Securities Exchange (NSE) after shareholders approved a listing by introduction, marking a major milestone in the organisation’s transformation from a member association into a fully listed mobility services company.
This move comes as AA Kenya continues to strengthen its position as the leading mobility service provider in Kenya, operating over 60 branches in all major towns nationwide and delivering a wide range of mobility solutions to individuals, businesses, and institutions.
What Listing by Introduction Means
A listing by introduction allows a company to join the stock exchange without issuing new shares to the public at the time of listing. Instead, existing shareholders make their shares available for trading once the company is admitted to the exchange.
Companies typically use this route when:
- They already have a broad shareholder base
- They do not require immediate capital injection
- They want to enhance transparency, liquidity, and market visibility
For AA Kenya, the listing opens the door to future capital raising while allowing investors to trade shares on an open market for the first time.
AA Kenya’s Mobility Leadership
AA Kenya enters this next phase with a century‑long legacy and a nationwide footprint in mobility services. The organisation provides:
- Driver training programs
- Vehicle inspection and valuation
- Technical training on defensive driving
- Guidance on vehicle running costs through AA mileage rates
- Issuance of international driving licenses and car passports
- Roadside rescue and emergency support
- Insurance intermediation
AA Kenya is the only authorised issuer of international driving licenses and car passports in Kenya.
Internationally, the organisation is a proud member of the Federation Internationale de l’Automobile (FIA), the global motoring body representing more than 100 million motorists and their families.
This strong institutional foundation positions AA Kenya as a trusted mobility partner and a resilient candidate for public listing.
Key Approvals from the AGM
Shareholders endorsed several structural and capital actions to support the upcoming NSE listing:
1. 16‑for‑1 Share Split
Existing KSh 8.00 shares will be split into sixteen new shares with a par value of KSh 0.50 each, making the stock more affordable and improving liquidity.
2. Bonus Issue
A 1:5 bonus issue will allocate 6,136,665 new shares to shareholders on the register as at October 31.
3. Authority to Allot New Shares
The board received approval to allot up to KSh 49.09 million in new shares over a defined period, creating room for future capital raising after the NSE listing.
These measures aim to broaden ownership, increase liquidity, and support long‑term growth as AA Kenya transitions into a listed entity.
Financial Performance in 2024
AA Kenya reported solid growth across key financial metrics, driven by higher activity in motoring services, driving schools, and insurance brokerage.
Financial Highlights (YoY Performance)
| Metric | 2024 | 2023 | YoY % |
|---|---|---|---|
| Turnover | 913.92 Mn | 833.94 Mn | ▲ +9.6% |
| Direct Expenses | 505.31 Mn | 446.79 Mn | ▲ +13.1% |
| Gross Margin | 408.61 Mn | 387.15 Mn | ▲ +5.5% |
| Other Operating Income | 39.69 Mn | 6.99 Mn | ▲ +468% |
| Administrative Expenses | 283.11 Mn | 265.91 Mn | ▲ +6.5% |
| Other Operating Expenses | 93.62 Mn | 89.31 Mn | ▲ +4.8% |
| Operating Surplus | 71.57 Mn | 38.92 Mn | ▲ +83.9% |
| Finance Costs | 13.97 Mn | 5.79 Mn | ▲ +141.2% |
| Surplus Before Tax | 57.60 Mn | 33.13 Mn | ▲ +73.8% |
| Tax Charge | 2.61 Mn | 1.39 Mn | ▲ +87.4% |
| Surplus for the Year | 54.99 Mn | 31.74 Mn | ▲ +73.3% |
| Net Assets | 286.22 Mn | 231.23 Mn | ▲ +23.8% |
| Total Assets | 295.04 Mn | 240.46 Mn | ▲ +22.7% |
Performance Drivers
Management attributed the growth to:
- Increased driving school enrolment
- Strong demand for roadside assistance
- Higher volumes in inspection, valuation, and insurance services
Margins improved despite higher costs, supported by a significant rise in other operating income.
