Street lighting project pushes Kenya Power into financial strain

The utility company had a negative net working capital of Sh763 million at the close of the 2016 financial year, down from a solid Sh20.4 billion it had at the beginning of the financial year.PHOTO: COURTESY

Recognition of a Sh4 billion liability for the Government-funded street lighting project saw Kenya Power report a negative working capital position in the year ended June 2016.

The utility company had a negative net working capital of Sh763 million at the close of the 2016 financial year, down from a solid Sh20.4 billion it had at the beginning of the financial year.