Kenya’s Power and Lighting Company paid electricity suppliers a meagre KSh4.73 billion ($33.3m) in nine months ending March 2023 as its financial woes have been exacerbated by rising generation costs and a depreciating shilling. By HeraldAloo.
Posted on July 25, 2023 09:31
An official at Kiambere Power Station show the operations of the plant to a visitor in Machakos District December 8, 2006. Kenya’s sole electricity distributor, the Kenya Power and Lighting Company , said on Friday its pretax profits for the year to June 2006 has risen by 26 percent, boosted by an increase in demand for power and a booming economy. KPLC posted a pretax profit of 2.49 billion Kenya shillings compared with 1.9 billion shillings the previous year.
Kenya’s state utility paid electricity suppliers a meagre amount in nine months ending March 2023 as its financial woes have been exacerbated by rising generation costs and a depreciating shilling. The Kenyan government has been struggling with the financial burden of soaring global fuel prices and dollar scarcity, with the Power and Lighting Company unable to pay Independent Power Producers .Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa. Unlocked.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa could get 13,000MW more power from existing stations — RamokgopaThe government is working on about 25 projects in existing substations that could potentially unlock about 13 gigawatts (GW) of energy, Ramokgopa said.
Read more »
Wagner aside, Russia exerts soft power through fertiliser - The Africa Report.comAs WagnerGroup mercenaries plan to redeploy in Africa, Russia has a second strand to its influence on the continent: much-needed fertilizer. RussiaAfricaSummit agriculture
Read more »
South Africa will have power cuts for another ten years, warns expertAccording to Hohm Energy’s head of business intelligence and public relations South Africans should expect regular stage 7 load-shedding by 2028.
Read more »
City Power awaits safety clearance before restoration of power in Joburg CBD - SABC NewsCity Power in Johannesburg says it is waiting for emergency services to declare the city’s underground gas explosion site safe before it can begin the process of restoring power to the affected residential and business properties affected.
Read more »
Africa: Russia-Africa Summit Provides a Global Stage for Moscow to Puff Up Its InfluenceAnalysis - Forty-three African heads of state attended the 2019 Russia-Africa summit. They had high hopes that Russia would emerge as a new source of investment and trade for the continent. Russian president Vladimir Putin promised to double Russian trade with Africa in five years to US$40 billion.
Read more »
Africa Live: Russia able to replace Ukraine grain to Africa - Putin - BBC NewsThe death toll from a building collapse in Cameroon's biggest city, Douala, has increased to 16. The four-storey building fell onto another residential building in the early hours of Sunday morning. It is not currently known what caused the collapse.
Read more »