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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Home Afrika

HAFR · Nairobi Securities Exchange · Incorporated in Kenya · Consolidated statements

On this page
Company details
Legal name
Home Afrika Limited
Incorporated in
Kenya
Listing
HAFR on the Nairobi Securities Exchange, active · ISIN KE2000007258 (observed 2026-10-07)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, final status not established · source

Read with these figures

  • Going-concern warning in the FY2023 auditor's report. Material uncertainty related to going concern (GMK Accountants LLP, p92); shown with the FY2023 column.
  • FY2025 auditor's opinion. Disclaimer of opinion (no opinion expressed), with no 'material uncertainty related to going concern' section (GMK Accountants LLP, p132).
  • No audit opinion: the auditor disclaimed an opinion. FY2025: Basis: Basis for Disclaimer of Opinion — (i); Basis for Disclaimer of Opinion — (ii); Basis for Disclaimer of Opinion — (iii) (PDF p132). Details below.
  • Annual report not confirmed as final. The published copy is unsigned. The FY2025 figures come from it.
Full wording and sources

  • Auditor's report, year to 2023-12-31: material uncertainty related to going concern

    The financial statements indicate that the group incurred a net loss of Kshs. 27,835,780 for the year ended 31 December 2023, and as of that date, the group had net current liabilities of Kshs. 2,979,304,455 and a deficiency in shareholders funds of Kshs. 2,586,545,675. These conditions indicate that a material uncertainty exists which may cast significant doubt on the group's ability to continue as a going concern. (Basis for Disclaimer of Opinion (i), PDF p92)

    Source: Home Afrika Integrated Annual Report 2023 (Home Afrika Limited Annual report and consolidated financial statements for the year ended 31 December 2023), p92 (dated 2024-04-25)

  • Auditor's opinion, year to 2025-12-31

    “We do not express an opinion on the accompanying consolidated financial statements of the group.”. The report has no 'material uncertainty related to going concern' section.

    Source: Home Afrika Limited 2025 Integrated Annual Report and Financial Statements, p132 (dated 2026-04-28)

  • Auditor's report, year to 2025-12-31: disclaimer of opinion (no opinion expressed)

    The auditor did not express an opinion on these financial statements (a disclaimer of opinion). Figures are shown as printed and are not covered by an audit opinion. The auditor (GMK Accountants LLP) did not express an opinion on Home Afrika Limited's consolidated financial statements for 2025. It says it could not obtain enough evidence to form one. The reasons: the group had net current liabilities of Kshs 1.42 billion and negative shareholders' funds of Kshs 1.03 billion, and the auditor could not confirm that preparing the accounts on a going-concern basis is appropriate; two properties costing Kshs 28.3 million are not titled in the subsidiary's name and have not been impaired; and apartment blocks carried at Kshs 570 million face bank foreclosure, with no evidence the impairment provision is adequate. The published copy of the report shows the partner's name and a handwritten date but no visible signature. These figures are unaudited in effect and are shown only as published. (auditor's report, PDF p132; verified on the page images 2026-10-08)

    Source: Home Afrika Limited 2025 Integrated Annual Report and Financial Statements, p132 (dated 2026-04-28)

  • Auditor's report, year to 2023-12-31: disclaimer of opinion (no opinion expressed)

    The auditor did not express an opinion on these financial statements (a disclaimer of opinion). Figures are shown as printed and are not covered by an audit opinion. The auditor (GMK Accountants LLP) did not express an opinion on Home Afrika Limited's consolidated financial statements for 2023, saying it could not obtain sufficient appropriate audit evidence. Basis for Disclaimer of Opinion: (i) the group made a net loss of Kshs 27,835,780, had net current liabilities of Kshs 2,979,304,455 and a deficiency in shareholders' funds of Kshs 2,586,545,675, indicating a material uncertainty about going concern, and the auditor could not obtain evidence for the directors' going-concern assumptions; (ii) two properties in work in progress (sports facility and club house, cost Kshs 28,285,376) are not titled in the name of Home Afrika Communities Limited and have not been impaired; (iii) apartment blocks under construction in inventory (carrying value Kshs 570 million) are subject to foreclosure by the bank, and the auditor could not obtain evidence of the adequacy of the impairment provision (PDF p92).

    Source: Home Afrika Integrated Annual Report 2023 (Home Afrika Limited Annual report and consolidated financial statements for the year ended 31 December 2023), p92 (dated 2024-04-25)

  • Annual report for 2025: final status not established

    The report of the independent auditor (GMK Accountants LLP, PDF pp132-133) is a DISCLAIMER OF OPINION on the consolidated and company financial statements (going concern; titles of work-in-progress properties; impairment of apartment blocks subject to foreclosure). It closes with the typeset firm name 'GMK Accountants LLP, Certified Public Accountants' and engagement partner CPA Peter Waweru (P/No. 2422) with no visible signature (name printed, unsigned); only the date blank is completed by hand '28/04/' before the printed '2026' (PDF p133, page image). The board approval under the consolidated statement of financial position has the date blank completed by hand '28/04/' 2026 and two handwritten signatures over unnamed 'DIRECTOR' lines (PDF p136, page image). No audit opinion is expressed, so the figures are not established as audited.

    Source: Home Afrika Limited 2025 Integrated Annual Report and Financial Statements (dated 2026-04-28)

  • Annual report for 2023: final status not established

    The report of the independent auditor (GMK Accountants LLP, PDF pp92-93) is a DISCLAIMER OF OPINION on the consolidated financial statements (going concern; titles of two work-in-progress properties; impairment of apartment blocks subject to foreclosure). It closes 'For and on behalf of; GMK Accountants LLP, Certified Public Accountants, NAIROBI' with engagement partner CPA George Mwangi (practising certificate No. 1622) named in the text and no visible signature (name printed, unsigned); the date blank is filled '25th April' (orange type) before the printed '2024' (PDF p93, page image). The board approval under the consolidated statement of financial position has the date blank filled '25th April' 2024 and two handwritten signatures over unnamed 'DIRECTOR' lines (PDF p96, page image). No audit opinion is expressed, so the figures are not established as audited.

    Source: Home Afrika Integrated Annual Report 2023 (Home Afrika Limited Annual report and consolidated financial statements for the year ended 31 December 2023) (dated 2024-04-25)

  • Revenue

    KES 509 million

    508,666,441 KES units · p134

    Change not shown.

  • Operating profit / (loss)

    KES 189 million

    189,411,481 KES units · p134

    Change not shown.

  • Profit / (loss) for the year

    KES 118 million

    117,889,421 KES units · p134

    Change not shown.

  • Total assets

    KES 3.81 billion

    3,808,603,788 KES units · p136

    Change not shown.

  • Total equity

    −KES 1.03 billion

    (1,031,187,323) KES units · p136

    Change not shown.

  • Cash from operations

    KES 396 million

    396,328,180 KES units · p140

    Change not shown.

Large amounts are rounded for reading (KES million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

No change rate is shown: the auditor did not express an opinion on the 2025 statements (disclaimer of opinion).

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in KES units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, final status not established; reported for the year · source
  • FY2024 — annual report, final status not established; comparative in the FY2025 filing · source
  • FY2023 — annual report, final status not established; reported for the year · source
    • Auditor's report, year to 2023-12-31: material uncertainty related to going concern. The financial statements indicate that the group incurred a net loss of Kshs. 27,835,780 for the year ended 31 December 2023, and as of that date, the group had net current liabilities of Kshs. 2,979,304,455 and a deficiency in shareholders funds of Kshs. 2,586,545,675. These conditions indicate that a material uncertainty exists which may cast significant doubt on the group's ability to continue as a going concern. (Basis for Disclaimer of Opinion (i), PDF p92)
    • Auditor's report, year to 2023-12-31: disclaimer of opinion (no opinion expressed). The auditor did not express an opinion on these financial statements (a disclaimer of opinion). Figures are shown as printed and are not covered by an audit opinion. The auditor (GMK Accountants LLP) did not express an opinion on Home Afrika Limited's consolidated financial statements for 2023, saying it could not obtain sufficient appropriate audit evidence. Basis for Disclaimer of Opinion: (i) the group made a net loss of Kshs 27,835,780, had net current liabilities of Kshs 2,979,304,455 and a deficiency in shareholders' funds of Kshs 2,586,545,675, indicating a material uncertainty about going concern, and the auditor could not obtain evidence for the directors' going-concern assumptions; (ii) two properties in work in progress (sports facility and club house, cost Kshs 28,285,376) are not titled in the name of Home Afrika Communities Limited and have not been impaired; (iii) apartment blocks under construction in inventory (carrying value Kshs 570 million) are subject to foreclosure by the bank, and the auditor could not obtain evidence of the adequacy of the impairment provision (PDF p92).
    • Annual report for 2023: final status not established. The report of the independent auditor (GMK Accountants LLP, PDF pp92-93) is a DISCLAIMER OF OPINION on the consolidated financial statements (going concern; titles of two work-in-progress properties; impairment of apartment blocks subject to foreclosure). It closes 'For and on behalf of; GMK Accountants LLP, Certified Public Accountants, NAIROBI' with engagement partner CPA George Mwangi (practising certificate No. 1622) named in the text and no visible signature (name printed, unsigned); the date blank is filled '25th April' (orange type) before the printed '2024' (PDF p93, page image). The board approval under the consolidated statement of financial position has the date blank filled '25th April' 2024 and two handwritten signatures over unnamed 'DIRECTOR' lines (PDF p96, page image). No audit opinion is expressed, so the figures are not established as audited.
  • FY2022 — annual report, final status not established; comparative in the FY2023 filing · source
    • Annual report for 2023: final status not established. The report of the independent auditor (GMK Accountants LLP, PDF pp92-93) is a DISCLAIMER OF OPINION on the consolidated financial statements (going concern; titles of two work-in-progress properties; impairment of apartment blocks subject to foreclosure). It closes 'For and on behalf of; GMK Accountants LLP, Certified Public Accountants, NAIROBI' with engagement partner CPA George Mwangi (practising certificate No. 1622) named in the text and no visible signature (name printed, unsigned); the date blank is filled '25th April' (orange type) before the printed '2024' (PDF p93, page image). The board approval under the consolidated statement of financial position has the date blank filled '25th April' 2024 and two handwritten signatures over unnamed 'DIRECTOR' lines (PDF p96, page image). No audit opinion is expressed, so the figures are not established as audited.

Income statement

Income statement, KES units. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), comparative reported in the annual report for 2025; FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportreported for the yearsource limitationsFY2022Annual reportcomparative in FY2023 filingsource limitations
Revenue from contracts with customers 508,666,441 781,906,719 377,195,320 237,396,323
Cost of sales (229,302,895) (408,431,394) (262,356,384) (136,700,078)
Gross profit 279,363,546 373,475,325 114,838,936 100,696,245
Other operating income 46,562,469 31,350,350 13,042,482 12,296,875
Selling and distribution expenses (13,845,251) (11,404,217) (7,146,950) (7,220,898)
Administrative expenses (88,568,362) (136,527,855) (80,262,576) (90,608,083)
Other operating expenses (34,100,921) (33,131,114) (37,208,466) (39,413,533)
Operating profit1 189,411,481 223,762,489 3,263,426 (24,249,394)
Finance costs (70,683,656) (78,694,316) (25,512,991) (40,412,546)
Profit before tax2 118,727,825 145,068,173 (22,249,565) (64,661,940)
Taxation3 (838,404) (11,601,668) (5,586,215) (446,106)
Profit for the year4 117,889,421 133,466,505 (27,835,780) (65,108,046)
Total comprehensive income for the year5 117,889,421 133,466,505 (27,835,780) (65,108,046)
- Non-controlling interest6 83,681,754 80,470,957 (11,375,199) (5,106,035)
Notes and alternative reported figures (6)
  1. Printed under different labels across filings: “Operating profit”; “Operating profit/(loss)”.
  2. Printed under different labels across filings: “Loss before tax”; “Profit before tax”.
  3. Printed under different labels across filings: “Tax charge”; “Taxation”.
  4. Printed under different labels across filings: “Loss for the year”; “Profit for the year”.
  5. Printed under different labels across filings: “Total comprehensive income for the year”; “Total comprehensive loss for the year”.
  6. “- Non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Profit attributable to: - Non-controlling interest (p134).

Balance sheet

Balance sheet, KES units. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), comparative reported in the annual report for 2025; FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportreported for the yearsource limitationsFY2022Annual reportcomparative in FY2023 filingsource limitations
Property And Equipment1 44,387,493 47,612,666 49,346,569 56,053,965
Investment Property2 343,031,042 343,031,042 343,031,042 343,031,042
Intangible Assets3 247,929 254,043 379,168 565,922
Financial Assets45 2,000 2,000 2,000 2,000
Non-current assets (unlabelled subtotal) 387,668,464 390,899,751 392,758,779 399,652,929
Inventories 2,761,125,726 3,000,918,623 3,401,751,171 3,582,144,154
Trade And Other Receivables6 649,383,273 341,435,975 226,568,128 622,441,994
Cash And Cash Equivalents7 10,426,325 5,997,290 33,821,780 3,190,807
Current assets (unlabelled subtotal) 3,420,935,323 3,348,351,888 3,662,141,079 4,207,776,955
Total Assets8 3,808,603,788 3,739,251,638 4,054,899,859 4,607,429,884
Deferred Income910 19,399,865 239,217,084 796,443,392 1,087,477,331
Trade And Other Payables11 1,263,169,332 1,505,759,153 1,456,383,550 1,599,298,705
Deposit From Sale Of Plots And Units1213 1,597,665,503 2,448,770,133 2,598,749,767 2,223,142,404
Borrowings 1,088,599,722 1,019,528,965 931,613,712 1,330,490,255
Private Placement Bond1415 680,950,000 680,950,000 680,950,000 820,660,028
Deposit For Shares1617 91,620,390 143,146,022 152,446,022 155,346,022
Current Tax18 31,923,999 33,834,126 24,859,091 19,079,000
Current liabilities (unlabelled subtotal) 4,773,328,811 6,071,205,483 6,641,445,534 7,235,493,745
Net Current Liabilities1920 (1,418,855,787) (2,722,853,595) (2,979,304,455) (3,027,716,791)
Total Liabilities21 4,773,328,811 6,071,205,483 6,641,445,534 7,235,493,745
Net Liabilities2223 (1,031,187,323) (2,331,953,844) (2,586,545,675) (2,628,063,861)
Share Capital24 405,255,320 405,255,320 405,255,320 405,255,320
Share Premium25 68,842,038 68,842,038 68,842,038 68,842,038
Accumulated Deficit26 (1,140,187,630) (2,357,272,397) (2,531,393,271) (2,584,286,656)
Equity Attributed To Owners Of The Parent27 (666,090,272) (1,883,175,039) (2,057,295,913) (2,110,189,298)
Non-Controlling Interest28 (365,097,051) (448,778,805) (529,249,762) (517,874,563)
Total Equity29 (1,031,187,323) (2,331,953,844) (2,586,545,675) (2,628,063,861)
Notes and alternative reported figures (29)
  1. Printed under different labels across filings: “Property And Equipment”; “Property and equipment”.
  2. Printed under different labels across filings: “Investment Property”; “Investment property”.
  3. Printed under different labels across filings: “Intangible Assets”; “Intangible assets”.
  4. “Financial Assets” is an issuer-specific line, not mapped to a shared definition: Non-current financial assets (note 14).
  5. Printed under different labels across filings: “Financial Assets”; “Financial assets”.
  6. Printed under different labels across filings: “Trade And Other Receivables”; “Trade and other receivables”.
  7. Printed under different labels across filings: “Cash And Cash Equivalents”; “Cash and cash equivalents”.
  8. Printed under different labels across filings: “Total Assets”; “Total assets”.
  9. “Deferred Income” is an issuer-specific line, not mapped to a shared definition: Current liability (note 18).
  10. Printed under different labels across filings: “Deferred Income”; “Deferred income”.
  11. Printed under different labels across filings: “Trade And Other Payables”; “Trade and other payables”.
  12. “Deposit From Sale Of Plots And Units” is an issuer-specific line, not mapped to a shared definition: Current liability (note 19): customer deposits received on plots and units sold.
  13. Printed under different labels across filings: “Deposit From Sale Of Plots And Units”; “Deposit from sale of plots and units”.
  14. “Private Placement Bond” is an issuer-specific line, not mapped to a shared definition: Current liability (note 22).
  15. Printed under different labels across filings: “Private Placement Bond”; “Private placement bond”.
  16. “Deposit For Shares” is an issuer-specific line, not mapped to a shared definition: Current liability (note 22).
  17. Printed under different labels across filings: “Deposit For Shares”; “Deposit for shares”.
  18. Printed under different labels across filings: “Current Tax”; “Current tax”.
  19. “Net Current Liabilities” is an issuer-specific line, not mapped to a shared definition: Current assets less current liabilities, printed negative.
  20. Printed under different labels across filings: “Net Current Liabilities”; “Net current liabilities”.
  21. Printed under different labels across filings: “Total Liabilities”; “Total liabilities”.
  22. “Net Liabilities” is an issuer-specific line, not mapped to a shared definition: Total assets less total liabilities, printed negative (equals total equity).
  23. Printed under different labels across filings: “Net Liabilities”; “Net liabilities”.
  24. Printed under different labels across filings: “Share Capital”; “Share capital”.
  25. Printed under different labels across filings: “Share Premium”; “Share premium”.
  26. Printed under different labels across filings: “Accumulated Deficit”; “Accumulated deficit”.
  27. Printed under different labels across filings: “Equity Attributed To Owners Of The Parent”; “Equity attributed to owners of the parent”.
  28. Printed under different labels across filings: “Non-Controlling Interest”; “Non-controlling interest”.
  29. Printed under different labels across filings: “Total Equity”; “Total equity”.

Cash flow

Cash flow, KES units. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), comparative reported in the annual report for 2025; FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportreported for the yearsource limitationsFY2022Annual reportcomparative in FY2023 filingsource limitations
Cash From Operations1 467,011,836 385,809,311 395,618,598 46,073,438
Interest Paid23 (70,683,656) (78,694,316) (25,512,991) (40,412,546)
Net Cash From Operating Activities4 396,328,180 307,114,995 370,105,607 5,613,332
Cash Paid For Purchase Of Property And Equipment5 (1,684,450) (3,089,138) (188,120) (627,000)
Proceeds From Disposal Of Property And Equipment6 –7 –7 619,772 –7
Net Cash (Used In) Investing Activities8 (1,684,450) (3,089,138) 431,652 (627,000)
- Borrowings9 (4,395,217) (4,395,217) (4,395,217) (4,395,217)
- Deposits For Shares1011 (51,525,632) 12,200,000 2,900,000 3,000,000
- Hire Purchase1213 –14 (2,678,216) (3,399,944) –14
- Borrowings159 (334,293,846) (334,293,846) (334,293,846) –14
Net Cash (Used In) Financing Activities16 (390,214,696) (329,167,280) (339,189,008) (1,395,217)
Increase/(Decrease) In Cash And Cash Equivalents17 4,429,035 (25,141,423) 31,348,252 3,591,115
At Start Of Year18 5,997,290 31,138,713 (209,539) (3,800,654)
At End Of Year19 10,426,325 5,997,290 31,138,713 (209,539)
Tax paid Not reported in this filing20 Not reported in this filing20 –21 (47,560)
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
Notes and alternative reported figures (18)
  1. Printed under different labels across filings: “Cash From Operations”; “Cash from operations”.
  2. “Interest Paid”: mapping to a shared definition is uncertain. Printed 'Interest Paid' (note 27) without saying whether it covers borrowings only; equals finance costs on p134.
  3. Printed under different labels across filings: “Interest Paid”; “Interest paid”.
  4. Printed under different labels across filings: “Net Cash From Operating Activities”; “Net cash from operating activities”.
  5. Printed under different labels across filings: “Cash Paid For Purchase Of Property And Equipment”; “Cash paid for purchase of property and equipment”.
  6. Printed under different labels across filings: “Proceeds From Disposal Of Property And Equipment”; “Proceeds from disposal of property and equipment”.
  7. Printed under different labels across filings: “Net Cash (Used In) Investing Activities”; “Net cash (used in) investing activities”.
  8. Printed under different labels across filings: “- Borrowings”; “- borrowings”.
  9. “- Deposits For Shares” is an issuer-specific line, not mapped to a shared definition: Financing activities, printed under 'Repayment:'.
  10. Printed under different labels across filings: “- Deposits For Shares”; “- deposits for shares”.
  11. “- Hire Purchase” is an issuer-specific line, not mapped to a shared definition: Financing activities, printed under 'Proceeds'; '-' for 2025.
  12. Printed under different labels across filings: “- Hire Purchase”; “- hire purchase”.
  13. “- Borrowings”: mapping to a shared definition is uncertain. Printed under 'Proceeds' but negative, and identical for both years: (334,293,846) (p140); kept as printed.
  14. Printed under different labels across filings: “Net Cash (Used In) Financing Activities”; “Net cash (used in) financing activities”.
  15. Printed under different labels across filings: “Increase/(Decrease) In Cash And Cash Equivalents”; “Increase/(Decrease) in cash and cash equivalents”.
  16. Printed under different labels across filings: “At Start Of Year”; “At start of year”.
  17. Printed under different labels across filings: “At End Of Year”; “At end of year”.
  18. Not reported in this filing: Not printed: the statement of cash flows has no income tax paid line (p140).

Per share and shares

Per share and shares. Columns: FY2025 — annual report (final status not established), as reported for the year; FY2024 — annual report (final status not established), comparative reported in the annual report for 2025; FY2023 — annual report (final status not established), as reported for the year; FY2022 — annual report (final status not established), comparative reported in the annual report for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Annual reportreported for the yearsource limitationsFY2022Annual reportcomparative in FY2023 filingsource limitations
Earnings / (loss) per share (per share)1 0.08 0.13 (0.04) (0.15)
Profit / (loss) attributable to shareholders (KES units)2 34,207,667 52,995,548 (16,460,581) (60,002,011)
Notes and alternative reported figures (2)
  1. Earnings / (loss) per share: printed as “- basic and diluted”.
  2. Profit / (loss) attributable to shareholders: printed as “- Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Home Afrika Limited 2025 Integrated Annual Report and Financial Statements

    Year ended 31 December 2025 · Annual report · final status not established

    Audit: GMK Accountants LLP (Certified Public Accountants), disclaimer of opinion (no opinion expressed)

    Auditor's sign-off: CPA Peter Waweru (practising certificate No. 2422), GMK Accountants LLP (typeset; no visible signature)

    Final status: The report of the independent auditor (GMK Accountants LLP, PDF pp132-133) is a DISCLAIMER OF OPINION on the consolidated and company financial statements (going concern; titles of work-in-progress properties; impairment of apartment blocks subject to foreclosure). It closes with the typeset firm name 'GMK Accountants LLP, Certified Public Accountants' and engagement partner CPA Peter Waweru (P/No. 2422) with no visible signature (name printed, unsigned); only the date blank is completed by hand '28/04/' before the printed '2026' (PDF p133, page image). The board approval under the consolidated statement of financial position has the date blank completed by hand '28/04/' 2026 and two handwritten signatures over unnamed 'DIRECTOR' lines (PDF p136, page image). No audit opinion is expressed, so the figures are not established as audited.

    Document date
    28 Apr 2026
    Auditor's report
    28 Apr 2026
    Board approval
    28 Apr 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · KES units (printed “Kshs”)
    • The auditor (GMK Accountants LLP) did not express an opinion on Home Afrika Limited's consolidated financial statements for 2025. It says it could not obtain enough evidence to form one. The reasons: the group had net current liabilities of Kshs 1.42 billion and negative shareholders' funds of Kshs 1.03 billion, and the auditor could not confirm that preparing the accounts on a going-concern basis is appropriate; two properties costing Kshs 28.3 million are not titled in the subsidiary's name and have not been impaired; and apartment blocks carried at Kshs 570 million face bank foreclosure, with no evidence the impairment provision is adequate. The published copy of the report shows the partner's name and a handwritten date but no visible signature. These figures are unaudited in effect and are shown only as published. (auditor's report, PDF p132; verified on the page images 2026-10-08)
    • Basis: Basis for Disclaimer of Opinion — (i); Basis for Disclaimer of Opinion — (ii); Basis for Disclaimer of Opinion — (iii) (PDF p132).
    • Equity attributable to owners on the statement of financial position ((666,090,272); 2024: (1,883,175,039), p136) differs from the 'Total' column of the consolidated statement of changes in equity ((735,444,238); 2024: (1,952,529,005), p138). The SOCE also records a 2025 'Prior year adjustment' of 1,182,877,100 to accumulated deficit (reversal of 2024 intercompany transactions in Home Afrika Communities Limited) without restating the 2024 comparatives. Statement of financial position figures kept as printed.
    • Financing activities: '- Borrowings' under 'Proceeds' is printed negative and identical for both years ((334,293,846)), and '- Borrowings' under 'Repayment:' is identical for both years ((4,395,217)) (p140). The printed lines sum to (390,214,695) and (329,167,279) against printed totals (390,214,696) and (329,167,280). Kept as printed.
    • EPS is headed '(Loss) per share (Shs)' but the printed values are positive (0.08; 2024: 0.13) while profit is reported (p134). Kept as printed.
    • The running page header of the financial statements section prints 'For The Period Ended 1 December 2025'; statement headings, the directors' statement and the auditor's report print 31 December 2025.
    • The statement of financial position prints only current liabilities; 'Total Liabilities' repeats the current-liabilities subtotal, and 'Net Liabilities' equals total equity (p136).
    Technical details
    File
    195 pages, with a text layer
    SHA-256
    3c3fab0a8a3b729ac9bb3eef7d99815e46dd907ab597f36035590488a283c195
    Entity as printed
    Home Afrika Limited (the "company") and its subsidiaries (the "group")
    Issuer copy
    retrieved 2026-10-08T19:51:50Z

  • Home Afrika Integrated Annual Report 2023 (Home Afrika Limited Annual report and consolidated financial statements for the year ended 31 December 2023)

    Year ended 31 December 2023 · Annual report · final status not established

    Audit: GMK Accountants LLP (Certified Public Accountants), disclaimer of opinion (no opinion expressed) · includes a material-uncertainty paragraph

    Auditor's sign-off: CPA George Mwangi (practising certificate No. 1622), GMK Accountants LLP (typeset; no visible signature)

    Final status: The report of the independent auditor (GMK Accountants LLP, PDF pp92-93) is a DISCLAIMER OF OPINION on the consolidated financial statements (going concern; titles of two work-in-progress properties; impairment of apartment blocks subject to foreclosure). It closes 'For and on behalf of; GMK Accountants LLP, Certified Public Accountants, NAIROBI' with engagement partner CPA George Mwangi (practising certificate No. 1622) named in the text and no visible signature (name printed, unsigned); the date blank is filled '25th April' (orange type) before the printed '2024' (PDF p93, page image). The board approval under the consolidated statement of financial position has the date blank filled '25th April' 2024 and two handwritten signatures over unnamed 'DIRECTOR' lines (PDF p96, page image). No audit opinion is expressed, so the figures are not established as audited.

    Document date
    25 Apr 2024
    Auditor's report
    25 Apr 2024
    Board approval
    25 Apr 2024
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023, FY2022
    Basis
    consolidated statements · KES units (printed “Kshs”)
    • The auditor (GMK Accountants LLP) did not express an opinion on Home Afrika Limited's consolidated financial statements for 2023, saying it could not obtain sufficient appropriate audit evidence. Basis for Disclaimer of Opinion: (i) the group made a net loss of Kshs 27,835,780, had net current liabilities of Kshs 2,979,304,455 and a deficiency in shareholders' funds of Kshs 2,586,545,675, indicating a material uncertainty about going concern, and the auditor could not obtain evidence for the directors' going-concern assumptions; (ii) two properties in work in progress (sports facility and club house, cost Kshs 28,285,376) are not titled in the name of Home Afrika Communities Limited and have not been impaired; (iii) apartment blocks under construction in inventory (carrying value Kshs 570 million) are subject to foreclosure by the bank, and the auditor could not obtain evidence of the adequacy of the impairment provision (PDF p92).
    • Basis: Basis for Disclaimer of Opinion — (i) going concern; (ii) titles of two work-in-progress properties; (iii) impairment of apartment blocks subject to foreclosure (PDF p92).
    • Financing activities: '- deposits for shares' under 'Repayment:' is printed positive, '- hire purchase' and '- borrowings' under 'Proceeds' are printed negative, and '- borrowings' under 'Repayment:' is identical for both years ((4,395,217)) (p100). The 2023 lines sum to (339,189,007) against the printed total (339,189,008). The accumulated deficit falls from (2,584,286,656) to (2,531,393,271) although the year's loss attributable to owners is (16,460,581) (p96, p94). Kept as printed.
    • The statement of financial position prints only current liabilities; 'Total liabilities' repeats the current-liabilities subtotal, and 'Net liabilities' equals total equity (p96). Cash and cash equivalents at end of year in the statement of cash flows (31,138,713; 2022: (209,539)) differ from cash and cash equivalents on the statement of financial position (33,821,780; 2022: 3,190,807) (note 17); the cash continuity checks against the balance sheet therefore fail by those differences, as printed.
    Technical details
    File
    140 pages, with a text layer
    SHA-256
    3df3893f55c745f57d0a1191f91d596e21395a5ee78f5fb81d035c3af957bede
    Entity as printed
    Home Afrika Limited (the "company") and its subsidiaries (the "group")
    Issuer copy
    retrieved 2026-10-08T19:52:16Z

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