Not true at all...they did the PIBO...KES25Billion did it reduce earnings or enhance them? do you know the differance between this bond and the PIBO?

Answer me this. To whom will the earnings of the new geothermal plants financed by the asset backed bond be attributable to?

@deal you know if you are staff or management I would understand you headstrong blinded loyalty. Look, I invest in several counters and I am also invested in the PIBO. What I am telling you from experience and not blinded sentiment on a company is that Kengen is on value destructive path. They took money in 2009 and promised revenue and dividend growth by 2012. Look at the prospectus if you have it. Compare their projections on the IM and their results, they were off mark in 2011 and 2012 and in 2013 they are supposed to have a huge leap in earnings and I don't have to wait until September to know they will be off the mark. I am judging Kengen on their management forecasts and not Business Daily lazy journalism numbers. Pick you phone and call KPLC and they will tell you THEY DON'T IMPORT from Uganda, but Uganda is listed as a supplier because on those off days when Uganda has lower loads on Owen falls dam grid they typically would throw some surplus to Busia to because there is a high KVA line to Busia, otherwise if they had other outlets to Uganda they would send the power there. You surely can't go and say now we import power from Uganda can you? I have no illusions and if you go back to 2009 I was one of those very optimistic Kengen investors until they started missing forecasts and I started seeing them pack debt at stupefying levels and I suddenly discovered management are running a very different strategy to what they sold to investors. Unless you are management of Kengen, I don't see why you are arguing against numbers with poorly researched stories and moronic netiquette! Go bring your numbers and lets have discourse like civilized beings! and please don't bring for us Business daily stories we all know how and when these are written!

I'm not bringing you business daily stories...I'm a value investor who knows when to buy a company....I used to track KenGen back in 2009 I remember telling folks here the right time to buy was coming...last year. when the buying time came, cross checked my figures then made my move...bought a huge stake at 7.40! Dividend yield at that price 8.1%...management makes forecasts...I make mine too...its not unusual for a company to underperform forecasts. ..I know KenGen very well...if you were not rude and so indulged in your thinking which informed you to buy KenGen at 2009 prices then I would share a few facts with you...for now let me rest my. case....lets compare notes going forward.

@the deal and kausha,lets use the forum constructively. No need being abusive(you started kausha). You 'd be shocked that the ones making the most money from equities dont have as much indepth knowledge as the two of you. I think you sometimes just need experience over time to know the psycological behaviour of stock punters.Look at whats going on now! Dont tell me the bear run on most counters is down to fundamentals.Most likely election jitters.

I believe KenGen is creating value to its shareholders at a very fast rate for the kind of business theyre in...its a market Wanjiku can dump his shares and walk away.

Page 38 of the 2012 Annual Report...is talking about energy trade as the next big thing...Southern African power pool...East Africa power pool interconnection....Kengen is not only Kenya.. its Africa folks.

This is what I believe when it comes to Kengen. They are generating power which in Africa is a huge growth market. They are the major supplier of KPLC. I don't care about earnings or dividends because they are investing in assets. At the end of the day,they are focusing on their business.The money will follow.

I'd listen to @deal if were ya'll that this is very much a commercial affair and also from our interests in SADC, I can confirm that there does exist a SA power pool which is under-invested & inadequate for SADC as it is. Thus, the EA pool can be connected to the SA pool and it won't matter where the elec.is generated but just cabling it and that has the support of govts, private sector & devt. banks. Then we can say bye to the 'dark continent' [from space] ;-)

Case in point: Mozambique to boost Zim power supplies http://www.newzimbabwe.c...er%20supplies/news.aspx | NamPower reviews Hwange agreement - Zimbabwe http://www.newsday.co.zw...eviews-hwange-agreement/

Let me weigh in on this discussion by directly addressing @Kausha & Aguytrying. Both of whom have been talking of the supposedly erosion/reduction of earnings as a result of Kengen issuing an ABB. Fine, so all the earnings -assumingly- goes to paying this bond as it has been advanced here by both of u... would that mean even the earnings from the recently upgraded facilities + the ongoing upgrades of other facilities would count for nothing??? http://www.the-star.co.k...le-103354/kengen-receive