I read the following somewhere and thought it was funny:

Sasa hawa KPLC wako na rights issue ama ni lights issue?

energy sector is good to invest in there is a lot of potential but KPLC is just one lame duck company that has no ambition. This is a company that at times tells its consumers not to consume its products. As Maina Kageni said KPLC knows the directions to your house when it wants to disconnect power but you have to provide a map when you want re-connection. It has too much red tape in its procurement and it will now be worse as the government now has majority stake. The management and staff are just uninspiring. IMO 10billion in rights issue is modest to achieve the task ahead.
KPLC is giving government majority shareholding to qualify for sovereign guarantees for its future debts so it will taking a lot of debt now that the balance sheet is clean.
Looking at the information memorandum for KPLC and KCB i would rather go with KCB

@Sparkly has been beating me over the head since 2010.

My transformation on the road to Damascus came in 2012 after which I started coming out of GoK-Controlled firms except KenyaRe. I exited KPLC and KQ in entirety except for odd lots.

Very expensive lessons but I am glad I learnt them in good time otherwise it would have been even more expensive.

KPLC and KQ went from less to more GoK control.
KCB went the other way.
The results are there for all to see.

Own your mistakes. The lesson is to learn from one's mistakes.

The dividend from KCB exceeds the value of KPLC shares!