Kenya Power replaces directors who quit in a huf

The power distributor has been implementing a turnaround strategy since 2019. [Benjamin Sakwa, Standard] Kenya Power has appointed two more board members who will replace some of the directors who quit in May this year. The firm, in a statement yesterday, said it had appointed Sarah Mbwaya and Brig (Rtd) James Gitiba as non-executive directors. The new directors are expected to firm up the board's quorum that was hit following the resignation of Eng Elizabeth Rogo, Eng Abdulrazaq Ali and Dr Caroline Kittony-Waiyaki in May, while another director, Sachen Gudka left in December last year. The company said they had left to "pursue other interests." Ms Mbwaya is an electrical and electronics engineer with over 30 years of senior management experience across different fields, including energy and ICT. Brig (Rtd) Gitiba, on the other hand, served in senior positions in the military, including as a military assistant to the Chief of the General Staff, Commanding Officer, Transport Battalion and a military observer with the UN Mission in Sierra Leone from August 2000 to August 2001. He also served as deputy commander and chief of operations for the UN Mission in Southern Sudan from April 2008 to May 2009. The new members are expected to help fast-track the implementation of the firm's turnaround plan. Kenya Power, however, is still grappling with uncertainties, with its chief executive as well as a number of general managers still in an acting capacity. It is yet to replace Bernard Ngugi, who quit last August barely two years into his first term at the helm of the power distributor. In May, the firm replaced Eng Rosemary Oduor, the then acting chief executive with Eng Geoffrey Muli, also in an interim capacity. The power distributor has been implementing a turnaround strategy since 2019 that saw it post a profit in the year to June 2021 but still had negative working capital. It is also central to the sector-wide reforms being steered by the Energy Ministry, which are aligned with the recommendations of the Presidential Task Force on Review of Power Purchase Agreements. Among the major recommendations of the task force was a 30 per cent reduction in power prices. A 15 per cent cut on power prices was implemented in January this year with the expectations of a second tranche in the course of the year. The January cut on power costs is expected to hurt the firm's earnings for the year to June 2022, which are yet to be published. A report by the International Monetary Fund (IMF) published last week projects an annual revenue loss of Sh26.3 billion for the firm. The IMF cautioned the government against further reduction in power costs.

Kenya Power replaces directors who quit in a huf

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Kenya Power replaces directors who quit in a huf

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