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Kenya Power HY 2019
#241 Posted : Sunday, July 26, 2020 9:33:25 AM
Rank: Elder

Joined: 12/4/2009
Posts: 8,675
Location: NAIROBI
kmucheke wrote:
Save Kenya Power from collapse by Jaindi Kisero in BD.

The previous board was mainly composed of cronies of influential politicians. Still, the problems at Kenya Power are so deeply ingrained.

The priority of priorities in Kenya Power is addressing balance sheet issues. The shareholders must to something very urgently to clean the company’s balance sheet.

Kenya Power is the only power off-taker for both KenGen and for the independent power producers. When it continues to ail, the ramifications are felt across the board.

Indeed, part of the reason Kenya Power is where it is today is because it — for political reasons — finds it difficult to operate on the basis of full-cost recovery. Failure to subsidise the social tariff has been a big impediment.

The new team can scale up drastically in reducing transmission losses, in reducing theft of electricity by consumers, in collecting debts and in curtailing corruption in procurement.

A great deal can be achieved by eliminating fiefdoms in the ranks of the workforce left by the out-going management and board and in re-introducing clear lines of command in the company. The list of what needs to be done to improve the company’s fortunes is long indeed.

...inject capital to recapitalise the company and consider forging an alliance with a strategic partner that can bring technical expertise and management.

In the long term we must debate whether it really makes sense for Kenya Power and other strategic commercial State corporations to remain listed on the stock exchange.

A monopoly that rakes in more than Sh130 billion a year in revenues, is broke and is now tottering dangerously.

If the government does not take drastic measures to bail out Kenya Power from its current situation, the company will collapse.

All the above issues are not new and the board has its work cut out.

However there still remains the problem of external political interference.

The board is a passive one,which is least involved.
#242 Posted : Sunday, July 26, 2020 10:18:29 PM
Rank: Elder

Joined: 12/4/2009
Posts: 8,675
Location: NAIROBI
Kenya power has disconnected power to the whole of Makongeni.
#243 Posted : Monday, August 03, 2020 11:01:39 AM
Rank: Member

Joined: 11/17/2018
Posts: 147
Location: Mars
Interesting interview from Bernard Ngugi. He does inspire confidence. There are clearly concerted efforts to turn the utility around.

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