The National Assembly's Public Investments Committee on Commercial Affairs and Energy has expressed concerns that Kenya Power Lighting Company (KPLC), the country's electricity distribution firm, might collapse amid its growing financial crisis.
While grilling Kenya Power Chief Executive Officer (CEO) Joseph Siror on Wednesday, July 9, the lawmakers established what they described as "a worrying picture of a company battling deep-seated structural and operational issues, despite serving as the backbone of the country's power supply." This was after going through the utility's audited financial statements for the financial years 2018/19 to 2022/23. According to the Auditor-General's report for the year ending June 30, 2019, the company's current liabilities stood at Ksh115.2 billion against assets of Ksh44.2 billion, leaving a negative working capital of Ksh71 billion.
Members of the National Assembly during a vote to entrench the NG-CDF, NGAAF, and Senate Oversight Fund into the Constitution on July 1, 2025.
Photo National Assembly "This marked the third consecutive year of deficits, raising doubts about the company's ability to remain solvent," stated the MPs.
