TotalEnergies Marketing Kenya PLC has announced the appointment of Biova Agbokou as Chairperson of the Board of Directors, effective September 1, 2025.
The announcement was made via a formal notice signed by Company Secretary J.L.G. Maonga on September 2.
Agbokou succeeds Ms. Elodie Luce, who was commended for her “dedication and leadership” and wished success in her new assignment within the TotalEnergies Group.
“Biova brings a wealth of strategic and operational experience across multiple geographies and energy segments,” the company stated.
Global Leadership Experience
Agbokou currently serves as Vice President of Liquefied Petroleum Gas (LPG) at TotalEnergies Marketing & Services in Paris, a role she assumed in 2024. Her career spans over two decades at TotalEnergies, beginning in 2004 as an IT project manager focused on environmental, health, and safety systems.
She has held senior roles, including:
- Deputy Managing Director, East African Crude Oil Pipeline (EACOP), Kampala
- Managing Director and Country Chair, Madagascar
- Regional Director, Bordeaux, France
- HSEQ Director, TotalEnergies Guinea Equatorial
- Lead negotiator for acquisitions and divestments in Paris
Agbokou holds a Master of Science in Operations Research and Transportation from MIT and a Master of Engineering from CentraleSupélec in France.
FY2024 Results: Profit Halved Amid Margin Pressure
Separately, TotalEnergies Marketing Kenya reported a 51% drop in net profit to KSh 1.49 billion for the year ended December 31, 2024, down from KSh 3.02 billion in 2023.
The company attributed the decline to “reduced sales, aggressive price competition, rising finance costs, and increased operating costs not fully covered in margins.”
“Margins were primarily impacted by reduced sales compared to the previous year, aggressive price competition and increased costs not fully covered in the margins,” the company noted.
Despite the downturn, foreign exchange gains surged to KSh 2.07 billion, reversing a prior-year loss of KSh 385 million, “driven by the appreciation of the local currency.”
Key Financial Highlights (KSh ‘000)
| Metric | 2024 | 2023 | Change |
|---|---|---|---|
| Revenue | 151,487,770 | 156,432,095 | ↓ 3.2% |
| Gross Profit | 8,993,726 | 12,835,683 | ↓ 29.9% |
| Profit Before Tax | 2,063,131 | 4,619,420 | ↓ 55.3% |
| Profit After Tax | 1,487,433 | 3,022,924 | ↓ 50.8% |
| Finance Costs | 3,830,463 | 2,319,090 | ↑ 65.2% |
| Forex Gain / (Loss) | 2,072,802 | (385,142) | Rebound |
| EPS | 2.36 | 4.80 | ↓ 50.8% |
Operating expenses declined to KSh 7.51 billion from KSh 8.04 billion, reflecting “robust cost control measures and discipline.” However, finance costs rose sharply due to “the increased cost of borrowing.”
Dividend Maintained Despite Profit Decline
The board proposed a first and final dividend of KSh 1.92 per share for FY2024, unchanged from the previous year.
“The Directors recommend payment of a first and final dividend of KShs 1.92 per share… payable on or around 31 July 2025, subject to shareholders’ approval at the 71st Annual General Meeting,” the company stated.
Total assets stood at KSh 67.93 billion, down from KSh 75.32 billion in 2023. Cash and bank balances rose to KSh 11.44 billion, supported by KSh 7.34 billion in net cash from operating activities.
“Investments of KShs 2,475 million were made in line with the business strategy to enhance logistics, expand the network, and continue developing a profitable and sustainable multi-energy company,” the report added.
