Nairobi, April 30 -- Vivo Energy's revenues in the Kenyan market dipped by $233 million (Sh36.49 billion) in the year ended December 2023 as a weakening shilling and depressed demand for fuel hit the oil major.

The multinational says its Kenyan unit booked revenues of $1.557 billion (Sh243.87 billion using the exchange rates at the end of the review period), a drop of 13 percent from the $1.79 billion (Sh221 billion) made in 2022.

Vivo sold 1.342 billion litres of fuel in Kenya compared to 1.49 billion litres a year earlier, in the same period that the shilling significantly weakened against the dollar- the currency used to pay for fuel imports.

"A challenging and volatile 2023 landscape across many of our markets; a shortage of the do...