Real estate investment company, Home Afrika Ltd, has recorded a 14.6% growth in after-tax profit to KES 192.4 million in the first six months ended June, from KES 167.8 million in the same period last year. After several years of losses, Home Afrika turned profitable in 2024 and has maintained the positive performance in 2025, marking a significant turnaround for the firm. Profit growth was primarily driven by an increase in revenue from contracts with customers and improved operational efficiency.
Revenue rose by 16.2% to KES 359.4 million, underpinned by higher title issuance, recognition of deferred income, and increased deposits for residential plots. Efficiency improved on the back of leaner operations and tighter cost controls. Finance costs fell 21.8% to KES 34.8 million due to the company’s ongoing debt restructuring. Earnings per share improved to KES 0.24 from KES 0.20 in the first half of 2024.
The completion of the Migaa Golf Course has played a key role in increasing the property developer’s revenue. Revenue from other income increased by 132% to KES 23.8 million, mainly from the golf activities and tournaments. The golf course has also stimulated additional residential plot sales.
The listed company’s asset base contracted by 16.6% to KES 3.6 billion relative to HY 2024. Total equity remained in the negative territory at KES 2.1 billion, an 11.5% improvement from a negative of KES 2.4 billion in the first half of 2024.
Home Afrika Blueprint
- Sales Growth: The firm plans to Increase sales through targeted project campaigns, digital marketing, and providing clients with innovative financing choices.
- Operational Efficiency: Home Afrika is set to streamline procedures and reduce wasteful spending to improve operations.
- Portfolio Expansion: The company is looking forward to expanding into attractive real estate markets while bolstering and sustaining the success of ongoing ventures.
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