This archive report was first published on 7 August 2020.
On August 7, 2020, the virtual annual shareholder meetings of top listed firms in Kenya were marked by concerns over free food, umbrellas, and T-shirts.
Transcripts of the meetings, provided by firms such as Safaricom, KCB, Equity Group, Standard Chartered Bank, and DTB Group, indicate that retail shareholders were keen on freebies following the switch to online meetings.
The State ban on physical gatherings had stalled the holding of AGMs, where most firms provide the giveaways.
Shareholders were not comfortable with the arrangement, citing lost freebies and resultant costs such as internet bundles for attending digital meetings.
Companies had to explain to shareholders why it was not possible to distribute the AGM freebies.
"Will there be food?" a shareholder asked Safaricom management during the recent virtual AGM.
DTB Group responded to a shareholder's question by saying, "There will be no gifts sent out to shareholders."
