KenGen Pays Treasury Dividends, Ksh1.38B for FY ending 2021

The Kenya Electricity Generating Company (KenGen) has paid the National Treasury Ksh.1.38 billion dividends, for the financial year ended

This payout cheque was handed over to the National Treasury PS Dr. Chris Kiptoo at a ceremony held at the National Treasury Building.

The dividends arose from the National Governments’ 70 percent shareholding in the energy producing company.

Speaking during the event, PS Dr. Kiptoo reiterated the government’s commitment to support the energy sector in key strategic areas that will transform it into more profitability.

The PS said the government is undertaking portfolio review of donor funded projects and their implementation status to ensure no stalling of projects, and added that the government will put stringent measures in place that will enable cash from loans get absorbed on time, and projects to be completed within the stipulated time.

Present during the cheque presentation was Energy PS Alex Wachira who urged the KenGen board of management to come up with more and better business strategies that will steer the institution to greater profitability, especially investment in geothermal power and renewable energy which will eventually bring down the cost of energy in the country.

“KenGen has capacity to generate more power to the East Africa pool , which they can trade in to earn foreign exchange,” He said.

KenGen Business Development Director, Elizabeth Njenga who Represented the CEO said the dividend payment to the National Treasury exemplifies the company’s unwavering commitment to providing value to shareholders, while creating profitable returns.

The Government owns 70 per cent stake at KenGen, while 30 per cent is owned by private shareholders.

Also present were officials from the National Treasury, KenGen Board Chairman, Mr. Migos Ogamba and other officials from KenGen.

KenGen Pays Treasury Dividends, Ksh1.38B for FY ending 2021