@My2Cents - Why are you worried? If I recall, you looked at this a longer-term play. So chill...
This is when you need to read a few of Warren Buffett's writings...
- Demand climbs daily! Industrial production is up. New houses + offices all over the country.
- Lucky for us supply seems OK based on new IPPs coming online in 12-24 months. Hydropower may be a problem = higher electricity prices.
- New efficient [or better] infrastructure being developed/installed/upgraded.
- Prepaid meters seem popular. Better cashflow management
- New/cheaper loans for expansion/upgrades.
Yes, I watch the price but it does not matter for me [my core portfolio]. The profits will be good based on the economic growth in Kenya.
BTW, Buffett likes utilities in general...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett