This archive report was first published on 17 June 2020.
On June 17, 2020, Kenya Reinsurance Corporation Limited announced the postponement of its Annual General Meeting (AGM) for the year ended December 31, 2019.
The company cited the delayed approval of its annual financial statements by the auditor general as the reason for the postponement, in accordance with the Public Audit Act.
Public companies in Kenya are required to hold their AGMs within six months of their accounting reference date. However, the absence of the auditor general has caused delays in the release of financial reports for state-owned corporations.
Former Auditor General Edward Ouko left office in August 2019, marking the end of his eight-year non-renewable tenure.
As a result of the Covid-19 pandemic, listed companies in Kenya have been conducting their AGMs electronically.
Justice David Majanja extended the time for Kenya Re to hold its AGM for the year ended December 31, 2019, by six months.
