NAIROBI, Kenya – The National Treasury has received a Sh4.3 billion dividend payout from Kenya Electricity Generating Company (KenGen), marking a significant financial boost for the government.
KenGen, the country’s largest power producer, disbursed Sh3 billion directly to the government, its majority shareholder.
This represents a 117 percent per-share increase from the previous year, following the company’s strong financial performance, which saw it post a net profit of Sh6.8 billion for the financial year ending June 30, 2024.
The latest payout comes after an earlier disbursement of Sh1.3 billion to private and institutional shareholders in mid-February.
Receiving the dummy cheque from KenGen’s leadership, National Treasury Cabinet Secretary John Mbadi praised the company for its financial stability and strategic alignment with national development goals.
“We are immensely proud of KenGen as a model of excellence. Their stability, cost efficiency, and reliability in energy supply are key indicators of our nation’s economic performance,” said Mbadi.
KenGen’s board chairman Alfred Agoi credited the company’s financial success to improved electricity generation, enhanced operational efficiencies, and prudent financial management.
“Our dividend payout is not just a financial milestone; it reflects effective policy collaboration and our commitment to Kenya’s growth,” said Agoi.
KenGen has been expanding its investment in renewable energy, with a focus on geothermal, hydro, solar, and wind projects.
Energy Principal Secretary Alex Wachira reaffirmed the government’s support in securing funding for these initiatives through the National Treasury and development partners.
“Moving forward, our focus will be on supporting new projects in geothermal, hydro, solar, and wind. This will ensure long-term energy sustainability and support economic growth,” said Wachira.
