Kenya Electricity Generating Company PLC (KenGen) has commenced drilling the first geothermal well for Ethiopia Electric Power (EEP) company. The commencement of the drilling sets into motion Phase II of the $70.4 million contract. KenGen’s managing director and CEO, Rebecca Miano, through a statement, said the works began over the last weekend in May where […]
Masinga dam. FILE PHOTO | NMG Power producer Kenya Electricity Generating Company (KenGen) plans to raise the Masinga Dam’s wall and install equipment to pump downstream water back to ensure a steady supply of cheap hydroelectric power throughout the year. KenGen will raise the dam by 1.5 metres from the current 1,056.5 metres, increasing water […]
[ Courtesy ] The government might use an additional Sh65 billion to bail out cash-strapped parastatals in the next financial year, the International Monetary Fund (IMF) has revealed. In its first review of the Sh256 billion programme, the IMF noted that government officials had indicated that State-owned enterprises (SOEs) undergoing restructuring would use the money […]
Treasury Cabinet Secretary Ukur Yatani. [Wilberforce Okwiri, Standard] The International Monetary Fund’s (IMF) ultimatum that Kenya reveals the Covid-19 millionaires is just one of the conditions of the Sh256 billion programme that it has with Nairobi. It is aimed at assisting the country to reduce its debt levels by increasing tax revenues and containing spending. […]
Auditor-General questions how the Government Investment and Public Enterprises Management department that oversights corporations has been playing its oversight role. Government’s ability to collect over Sh28 billion in loans advanced to various parastatals appears in doubt, with some loans outstanding for years. This is even as the government makes little effort in loan recovery with […]
Since the successful issue of the Sh25 billion KenGen #ticker:KEGN public infrastructure bond in 2009, the local corporate bond market has yet to scale back to the same heights. Beset by collapsed issuers and defaults in recent years, the segment seems to have taken a backward step in active issuance of corporate bonds as investors […]
Nairobi — Kenya Electricity Generating Company PLC (KenGen) has joined the UN-backed global campaign to combat global warming, becoming the first public service agency in Kenya company to do so. The campaign dubbed ‘Business Ambition for 1.50C’, is backed by a global coalition of the United Nations leaders, business organisations and Non-Governmental Organizations (NGOs). By […]
Kenya Power Managing Director Bernard Ngugi during an operation to curb illegal connections and theft of electricity in Huruma, Nairobi on March 15, 2021. PHOTO | DIANA | NGILA | NMG Millions of Kenya Power rural customers are spending a paltry Sh3.34 daily on electricity in what has failed to lift the sales of the […]
Image credit: 123rf. Kenya Electricity Generating Company PLC (KenGen) has joined the UN-backed global campaign to fight global warming. The Kenyan utility is the first public service agency in the country to join the initiative. The campaign dubbed Business Ambition for 1.5°C , is backed by a global coalition of the United Nations leaders, business […]
While liberalising the power sector has advantages, it also calls for a robust institutional framework and State interventions to plug any gaps. PART 2 Having concluded in Part 1 of this two-part series that the power sector challenges are like a tangled ball of wool, we take a closer look at some of the pieces […]
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