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The Government has increased its shareholding in the Kenya Electricity Generating Company (KenGen), firming its majority owner's grip on the power generator.
The State's shareholding increased to 73.92 per cent as of June 2016 from 70 per cent in June 2015, after a rights issue in June this year. The National Treasury, which holds the Government ownership in KenGen, converted a Sh20.2 billion debt into equity, which had the effect of pushing up its shareholding. Treasury now owns 4.62 billion shares out of the total 6.24 billion shares.
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