The Kenya Power And Lighting Company (KPLC) is a state corporation that is tasked with distribution of electricity countrywide. Because of the critical role that it plays in the lives of Kenyans, the company is seen as one of the driving forces to Kenya’s success in industrialization.
Recently, the company has been hitting headlines for both positive and negative news. For instance, the company’s official financial reports for the year ended June, 2021 indicates that it posted a pretax profit of ksh 8.198 billion. This was seen as a point in the right direction given the company had posted a pretax loss of ksh 7 billion the previous year. The positive results were attributed to the company’s change of strategy that saw a reduction of operating costs from Sh47.8 Bn to Sh39.86 Bn.
Into 2022, the company also began implementing a presidential order to have the cost of power slashed by 30%. This was in a bid to save the common citizens from high costs of living and to ensure an increase in productivity. By 7th January, 2022, the cost of power was reduced by 15% and a further 15% slash is expected to be effected by the end of the first quarter of 2022.
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On a negative note, the company was largely blamed for a nationwide blackout that hit Kenya on 11th January, 2022 with after the collapse of 4 high voltage transmission pylons in Embakasi, Nairobi. The matter saw various government agencies swing into action on suspicion of sabotage by top officials.
Kenya Power Board Members
The following are the board members of the company as retrieved from the official website:-
Vivienne Yeda – Chairlady, Board of Directors. She holds a Bachelor’s and Masters of Laws and Master’s in Business Administration.
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Eng. Rosemary Oduor – She is the Acting Managing Director and CEO. She holds a Bachelor’s of Technology degree in electrical and communication engineering from Moi University and a Bachelor’s of Business Administration from University of Nairobi.
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Amb. Ukur Yattani – The Treasury CS holds a Bachelor’s of Arts degree in economics from Egerton University and Masters of Arts in Public Administration and Public Policy degree from University of York in UK.
Major Gen. (Rtd) Dr. Gordon Kihalangwa – He holds a diploma in strategic studies and international studies from University of Nairobi. He also has a PhD and Masters degree in international studies and diplomacy from Washington International University (USA).
Other board members:-
- Caroline Kittony Waiyaki
- Eng. Elizabeth Rogo
- Kairo Thuo
- Eng. Benson Mwakina
- Humphrey Muhu
- Imelda Bore
The Kenyan government, through the Treasury Ministry is the major shareholder of Kenya Power with over 50% of total shares. Other major shareholders are Standard Chartered Bank nominees and The Kenya Commercial Bank. Influential Kiharu MP is the 12th major shareholder of the company with over 9 million ordinary shares. Below is a list of the top 20 shareholders adopted from the company’s official report for the financial year ended June, 2021.
1). The National Treasury – 978 492 034 shares
2). Standard Chartered Nominees Resd A/C KE 11450- 32 518 589 shares
3). Standard Chartered Nominees Non-Resd A/C KE 11749- 24 076 800 shares
4). Hirani, Naran Khimji & Hirani Virji Khimji – 23 845 264 shares
5). Kenya Commercial Bank – 22 887 288 shares
6). NIC Custodial Services – 21 790 300 shares
7). Varsani Suresh Naran Ratna – 17 221 225 shares
8). Shah Mahendra Kumar Khetshi – 13 958 000 shares
9). Standard Chartered Nominees – 12 513 581 shares
10). Stanbic Nominees – 12 400 226 shares
11). Patel Sumantrai & Patel Ramaben – 10 397 300 shares
12). Nyoro, Samson Ndindi – 9 116 800 shares
13). Standard Chartered Kenya Nominees LTD-8,920,415 shares
14). Stanbic Nominees Limited-8,551,279 shares
15). Ruhari, Nehemia Ikuah-8,000,055 shares
16). Kaleb Investments Limited-7,986,700 shares
17). NIC Custodial Services A/C 077-7,196,799 shares
18). Pama, Atul-7,180,100 shares
19). Tapioca Limited-7,112,500
20). Co-op Custody Services Account 7,052,500
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