Kenya Power's net profit improved to Sh319m in H1 2023 due to increased electricity sales and cost-reflective tariffs, with revenue rising 31% to Sh113.6bn.

Kenya Power's net profit improved to Sh319m in H1 2023, up from a loss of Sh1.1bn in H1 2022, driven by increased electricity sales and cost-reflective tariffs. Revenue rose 31% to Sh113.6bn. The company aims to maintain profitability by enhancing sales, revenue collection, and system efficiency. CEO Dr. Joseph Siror is optimistic about the Kenyan shilling's performance against major currencies, which may help mitigate forex exposure.

February 23, 2024
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