KenGen Lifts Dividend, Bolttech Acquires mTek, and High Court Upholds Sh773M Tax Ruling

Kenya's primary power producer, KenGen, has increased its dividend payout to KSh 0.90 per share following a 54 percent surge in profit after tax to KSh 10.48 billion for the year ended June 30. This financial growth was attributed to lower operating costs and improved foreign exchange movements. In corporate acquisitions, global insurtech organization Bolttech has acquired Nairobi-based digital insurance platform mTek. This move marks a significant consolidation in East Africa's rapidly expanding insurtech market. Additionally, a recent High Court decision has bolstered Kenya's fight against tax evasion. The court upheld a significant portion of a Sh773 million tax assessment against a construction company involved in a "missing trader" scheme.