East African Cables Ltd has landed a lucrative Sh20.2 billion contract with Kenya Power to supply cables that will be used in the Last Mile Connectivity programme.
The cable-maker, which last year posted a Sh1.09 billion loss, hopes to appease its shareholders by making profits this year and paying dividends on account of the lucrative deal.
"Going with the Government's mantra of 'buy Kenya, build Kenya' Kenya Power will not be importing sub-standard cables from our oversees competitors anymore and instead, it has awarded us the contract," said Zeph Mbugua, the company's chairman during its Annual General Meeting (AGM) in Nairobi.
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