Kenya Power & Lighting Company Plc has appointented M/s. Vivienne Yeda, OGW, as the Chairperson, Board of Directors. She becomes the first woman to hold the company's board chair position.

https://www.the-star.co....ties-hit-sh115-billion/

The government has committed to support insolvent Kenya Power whose liabilities now exceeds its current assets by Sh70.9 billion, with the Auditor General casting doubt on its financial soundness.

The power utility firm has an asset base of Sh44.2 billion, for the year ended June 30, 2019, against a liability of Sh115.2 billion, a figure likely to have gone up, meaning the listed company is technically insolvent.

The electricity distributor’s debt to its various independent power producers and suppliers was at a Sh47.9 billion by June.

This includes;
Sh23.7 billion owed to KenGen,
Sh19.5 billion owed to Independent Power Producers(IPPs), and
another Sh4.7 billion owed to Kenya Electricity Transmission Company (KETRACO).

Its commercial debt is to the tune of about Sh60 billion.

He said the government has further given Kenya Power, together with KenGen, a break on reimbursement of monies paid by the exchequer on their behalf.

“This is quite an impactful initiative towards the recovery of Kenya Power,” the PS said.

The firm has so far secured debt relief from 14 lending institutions, cutting interest costs.

It has access to a one-year moratorium on its 18 foreign commercial and government guaranteed loans from lenders such as China Exim Bank, Japan Development Bank and World Bank’s International Development Agency (IDA).

Parastatals, national and county governments had a pending electricity bill of Sh4.7 billion as at the end of June 2020, a figure that has hit a new high as of today.

County governments, health facilities and other devolved services alone had unpaid bills of Sh2.4 billion as at June 30.

I wonder what AFDB and World Bank are demanding as preconditions of the bailout by them

“In the first supplementary budget, we have secured Sh6 billion as part of the 11.9 billion owed to Kenya Power for the Rural Electrification Scheme. The balance will be paid in the next financial year,” said Mr Keter.

>>> Which will go to KenGen

Hapa hakuna kizungumkuti. This thing is a monkey, simple and clear.

Sad how investors have lost due to government management style

Solar looks fancy but it's costs far exceed the power bills.

Obiero being my mentor, I have also decided to accumulate more KPLC shares.

Also, VVS says that buy when there is bloodbath on the streets and Mnandi's eliot break is very positive about this monkey