Kenya Power

Ever curious about where the electricity that powers your everyday life comes from? Watch how the Ministry of Energy and Petroleum fosters collaboration amongst the sector agencies to make this happen. #PoweringKenyans ^OS

During the year ending June 30 2024, we realised a net profit of KShs.30 billion. This achievement was driven by a 21% increase in electricity sales, equivalent to KShs.231.12 billion, resulting from our commitment to connecting 447,251 new customers to the grid and our response to growing economic activity, especially in the manufacturing sector.💡 Our Commercial and Industrial, and Domestic customer categories showed remarkable growth rates of 5.1% and 5.5%, respectively. Despite power purchase costs increasing to KShs.150.61 billion, we effectively managed our expenses, leading to a higher gross margin. Speaking during the results announcement, our Managing Director and CEO, Dr. (Eng.) Joseph Siror highlighted that the strengthening of the Kenyan Shilling and effective cost management strategies supported our financial success. We remain focused on financial sustainability, operational excellence, and customer-centric initiatives. We are committed to implementing high-impact projects and fostering a culture of excellence within our workforce.  #KPLCFinancialResults2024 💡⚡

Join our General Manager Finance, Stephen Vikiru, on NTV tonight, from 7:30 PM, as he discusses the Company’s full-year earnings with host Julians Amboko. Don’t miss this in-depth discussion on the #KPLCFinancialResults2024, shedding light on performance and future insights.

Kenya Power announces KShs. 30 Billion in net profit for the financial year 2023/24. Performance highlights: ⚡ 21% increase in sales to KShs. 231.12 billion. ⚡ 447,251 new customers connected to the grid. ⚡ KShs.24.84 billion decrease in finance costs. ⚡ Commercial and Industrial and Domestic customer categories recorded the highest sales growth, at 5.1% and 5.5%, respectively. ⚡Working capital has improved from negative 75 billion in the FY 2019-2020 to negative 27B in the year #KPLCFinancialResults2024

This year, Kenya Power has returned to profitability after facing numerous challenges in the energy sector and the economy. The Company declared a 30 Billion Shilling Profit After Tax, a significant achievement given the capital-intensive nature of power and distribution costs. Kenya Power will issue a dividend to shareholders for the first time in over seven years, delivering a return on investment to the Kenyan taxpayer. The government is committed to eliminating these challenges in operations and service delivery. ~ Principal Secretary, Ministry of Energy & Petroleum, Alex Wachira. #KPLCFinancialResults2024

We have developed a robust forex mitigation strategy, which we plan to implement. This approach will significantly reduce the impact of forex fluctuations on the organisation’s financial performance and limit this exposure by considering currency expandable options, focusing more on driving growth and improving service delivery ~ General Manager Finance, Stephen Vikiru. #KPLCFinancialResults2024 

Our key achievements over the past year: 💡 Revenue Growth: Achieved a 21% increase, reaching KSh 231.1 billion! 💡 Network Expansion: Connected 447,251 new customers, expanding our customer base to 9.7 million. 💡 Green Energy Commitment: Over 90% of our energy mix is green, supporting sustainable and reliable power. 💡 Digital Transformation: Engaged 2.1 million users on our self-service platforms, reducing in-person visits by 75%. 💡 EV Growth: Sales from EV charging contributed 1.2 GWh, marking a promising area for future growth. Our medium-term strategic focus areas are enhancing financial sustainability, improving operational excellence, entrenching customer centricity, and strengthening our human capital ~ Dr. Eng. Joseph Siror, MD & CEO. #KPLCFinancialResults2024

In the last year, we have connected 447,251 customers to the grid. The number of customers who subscribed to our digital self-service platforms is 2.1 million, up from 1.7 million. This increase in subscriptions is due to a substantial reduction in foot traffic in our banking halls ~ MD & CEO, Dr. Eng. Joseph Siror. #KPLCFinancialResults2024

Happening now: Announcing our full year business performance results for the year ended 30th June 2024. #KPLCFinancialResults2024

Have you ever wondered why we leave a strip of empty land between power lines? This is called a wayleave, it ensures smooth maintenance and reliable service. Ni muhimu kuacha hii area ikiwa free, bila any interference.