The British American Tobacco Kenya (BAT Kenya) has announced changes to its Board of Directors. In a notice on February 22, BAT Kenya’s board announced the resignation of André Joubert as a director with effect from 31 March 2025.
According to the Nairobi Securities Exchange (NSE) listed cigarette manufacturer, André’s resignation was accepted after he communicated his desire to exit the company.
BAT Kenya further said that Joubert’s commercial and financial acumen, cross-market experience and professionalism contributed significantly to the company’s transformation agenda.
“André was appointed on May 28, 2020, and has communicated his desire to pursue other interests and opportunities outside the BAT Group. During his tenure, André demonstrated unwavering dedication, commitment, and passion to drive the success of the Company,” said BAT Kenya.
“The Board conveys its sincere gratitude to André for his sustained and exemplary contribution to the Company and wishes him the very best in his future endeavors.”
BAT Kenya announces resignation of Sidney Wafula as Alternate Director
BAT Kenya’s board further announced the resignation of Sidney Wafula who was an Alternate Director to André with effect from 31 March 2025.
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The cigarette manufacturer said that Sidney continues to serve in his current capacity as Head of Finance, BAT Sub-Saharan Africa Area.
He was appointed an alternate director on 24 June 2020 and brought a wealth of leadership and management experience having held other Senior Management roles within the BAT Group, including as a former Finance Director of the Company, Head of Finance for BAT’s Southern Africa Markets and Head of Finance BAT Egypt.
“The Board thanks Sidney for his invaluable contribution and wishes him well in his future endeavors,” said BAT Kenya.
The changes at BAT Kenya’s board come after the company announced that it has registered a net profit of Ksh4.4 billion in the year ended December 2024.
BAT Kenya’s financial results
This was a 19.4 per cent decline in profit, with the NSE listed company citing higher operating costs and lower income from exports due to a stronger shilling suffered during the period.
The company had posted a net profit of Ksh5.5 billion a year earlier.
Following the announcement of profit, BAT declared a final dividend of Ksh45 per share, maintaining its total distribution to Ksh50 per share including an interim payout made in September last year.
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The new dividend will be paid on June 25 to shareholders who will be on the register on May 23.
BAT Kenya’s net sales rose marginally to Ksh25.7 billion in the review period but higher costs and reduced income from export sales led to the profit drop.
On the other hand, finance costs stood at Ksh829 million capturing the impact of the shilling’s dramatic gain early last year on the company’s export sales.
This reversed a finance income of Ksh97 million a year earlier.
KRA responds to exposé
Earlier in the week, the Kenya Revenue Authority (KRA) responded to a report that exposed a potential tax discrepancy running into billions of shillings involving BAT Kenya.
The report published by the University of Bath’s Tobacco Control Research Group, in collaboration with The Investigative Desk and Tax Justice Network Africa, highlights the potential $28 million (approximately Ksh3.62 billion) tax discrepancy involving the cigarette manufacturer for the fiscal years 2017 and 2018.
In a statement on February 19, KRA said that it is committed to upholding the integrity of Kenya’s tax system, further adding that it is currently reviewing the findings of the report.
“KRA takes these allegations seriously and is committed to upholding the integrity of Kenya’s tax system. We are currently reviewing the findings of the report and will take appropriate action,” read part of the statement.
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