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Kenya

APA insurance rolls out SME training in the country

Some of the areas of training include Financial Management, tax compliance and human resources management/FILE

NAIROBI, Kenya, OCT 3- APA Insurance has rolled out training programme for Small and Medium Enterprises (SMEs)in Kenya. 

The training that was launched in Nyeri with the first cohort of 60 business people is aimed at equipping SMEs with the Necessary Skills to thrive in their business.

APA CEO Ashok Shah says the programme will be rolled out throughout the country in the next few months.

“Some of the areas of training include Financial Management, tax compliance and human resources management,” Shah said.

The move comes even as SMES in the country are struggling to keep afloat.

In the last five years about 2.2 million SMEs closed shop according to latest data from the Kenya National Bureau of Statistics.

In FY18, the company’s profit before tax increased by 9 percent to Sh947 million, reflecting improved operational performance.

The group registered a 14 percent increase in premiums from Sh9.6 billion to Sh11 billion and grew its asset base from Sh23 billion in 2017 to Sh24 billion in 2018.

“In 2018 the Group has delivered concrete results against the backdrop of a difficult business environment. We have achieved a growth in premiums and in solid investment returns when many of our peers have shown losses in both operational and investment returns,” he said.

Shah added the company will continue with its plan to expand in the East Africa region.

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“APA Insurance is still the flagship and continues to grow and provides healthy dividends to the group with very strong ratios. The Group will continue to focus on growing APA Life Assurance and expanding APA Insurance’s general business in Uganda,” he said.

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