Unga Group Managing Director Joseph Choge during Unga Group’s re-launch of Amana brand of products on 24th August 2023 at Ngano House, Nairobi.
Photo credit: Billy Ogada | Nation Media Group
Depreciation of the Kenyan shilling and constrained access to foreign exchange have driven Unga Group Plc to a loss of Sh959.3 million for the year ended June 30, 2023.
This reverses a profit of Sh311.3 million posted in the preceding 12-month period to June 2022, which included gains from the transfer of business assets. Unga’s profit erosion was despite revenues increasing by 33 per cent driven by high prices of raw materials and finished goods.
