Nairobi, Wednesday November 4th, 2020: The Kenya Electricity Generating Company PLC (KenGen) has a new Board Chairman, General (Rtd) Samson Mwathethe.
Gen. Mwathethe, who was appointed by the Board of Directors during a meeting earlier today, replaces Mr. Joshua Choge who has served in that position since January 3rd, 2014.
Gen. Mwathethe is the immediate former Chief of Defence Forces of the Republic of Kenya, having retired from the position in May 2020 after serving for five years. Currently, he heads the Oceans and Blue Economy Office.
While announcing the appointment, the KenGen Board said he brings to the organization immense wealth of experience in strategy and leadership. The experience will be instrumental in steering the organization on its noble mandate to generate reliable, safe and competitively priced electric energy for the nation and also diversify the business to expand revenue streams. “Under General Mwathethe’s leadership, KenGen is committed to strengthening its stakeholder relations as we continue to build a responsive and dynamic busines that takes into account emerging technological advancements and social trends,” the MD & CEO, Mrs. Rebecca Miano, said.
KenGen, she added, was delighted to welcome General Mwathethe as the new Chairman of the Board.
Gen. Mwathethe has held various command appointments including Vice Chief of the Defence Forces, Commander of the Kenya Navy, Deputy Commander Kenya Navy, Kenya Navy Logistics Commander, Base Commander Mtongwe and Fleet Commander. His other appointments included Chief of Systems & Procurement, Department of Defence, Commander of Individual Kenya Navy Ships, Staff Officer Operations at Navy Headquarters, 86 Squadron Commander and Staff Officer and Coordinator at the Department of Defence.
His professional and military training includes International Sub-Lieutenants Course (UK), International Principal Warfare (IPWO) Course, UK, Missiles Course (Italy) and Royal Navy Staff College Greenwich (UK). He also attended the Defence Resource Management Course in Monterey, USA in 1998, and the National Defence College in Nairobi in 2000.
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KenGen to pay Ksh 1.65billion in dividends
Unpublished
Nairobi, Tuesday November 3rd, 2020:
Kenya Electricity Generating Company PLC (KenGen) has announced dividend payout of Ksh.1.65 billion to its 190,000 shareholders.
This follows approval of the Board’s recommendation by shareholders to pay a final dividend of Ksh 0.25 for the year for every ordinary share of Ksh 2.50.
The shareholders made the decision during the company’s 67th Annual General Meeting (AGM) held today through a virtual platform.
The announcement comes at a time when Kenya and the world at large is facing challenges and restrictions brought about by the Coronavirus Disease (COVID-19).
Speaking during the AGM, KenGen Managing Director & CEO, Mrs. Rebecca Miano, expressed optimism in the company’s long-term diversification strategy which she said was already bearing fruit.
Mrs. Miano singled out two recent geothermal drilling contracts KenGen won and is currently implementing in Ethiopia, which she said has been instrumental in creating new revenue streams for the company.
In his address, KenGen Board Chairman, Mr. Joshua Choge, pointed out that the company’s capacity expansion projects will ensure KenGen continues to competitively retain its market leadership going forward.
Mr. Choge said that KenGen business remained stable during the period ending June 2019, despite going through one of the most challenging economic seasons experienced in the country and globally.
During the year ended June 2019, the company’s energy sales grew from 7,989 GWh in 2018 to 8,277 GWh despite the dilution of the market share following new entrants. KenGen’s total revenues remained stable growing by 1.5% from Ksh 45.30 billion in 2018 to Ksh 45.97 billion in 2019.
Additionally, the company is exploring business growth through collaboration and partnerships with development agencies.
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