Real People Kenya has posted a sharp improvement in its financial results for the year ended December 31, 2024, reducing its net loss by 80% to KSh 19 million from KSh 93 million a year earlier.
- •Revenue increased by 13% to KSh 90.6 million, and the Group achieved a 30% reduction in operating expenses.
- •Consequently, the operating loss narrowed significantly to KSh 14 million from KSh 52 million in 2023.
- •Finance costs fell sharply to KSh 5 million from KSh 40.7 million the previous year, further boosting the overall financial improvement.
Financial Highlights:
| Metric | 2024 | 2023 | % Change |
|---|---|---|---|
| Revenue | KSh 90.6M | KSh 80.1M | +13% |
| Net Loss | (KSh 19.1M) | (KSh 93.0M) | +80% improvement |
| Operating Expenses | (KSh 112.5M) | (KSh 161.3M) | -30% |
| Finance Costs | (KSh 5.0M) | (KSh 40.7M) | -88% |
A major achievement during the year was the successful conclusion of a Management Buyout (MBO), initiated in 2024 and finalized in February 2025. The transaction saw the management team acquire full ownership of Real People Kenya through Risa Capital Limited. The company expects the MBO to unlock new opportunities for attracting both equity and debt funding to drive future expansion.
“The successful completion of the MBO transaction paves the way for discussions with existing noteholders and potential investors for capital injection,” the company stated.
With operational restructuring completed, Real People Kenya is now focused on recapitalizing the business to enhance its financial strength.
The Board of Directors did not recommend a dividend for the financial year ended December 31, 2024.
