NAIROBI, Kenya, Mar 12 – Kenya Electricity Generating Company (KenGen) has disbursed Sh3 billion in dividends to the National Treasury for the financial year ending June 30, 2024, following a strong financial performance that saw the company post a Sh6.8 billion net profit.
Speaking during the cheque handover ceremony at Stima Plaza in Nairobi, National Treasury and Economic Planning Cabinet Secretary John Mbadi lauded KenGen’s financial strength, emphasizing its crucial role in Kenya’s economic development.
“Their stability, cost efficiency, and reliability in energy supply are key indicators of our nation’s economic performance. We value your work for the economic survival of our country and will continue to support new projects with funding from development partners,” Mbadi said.
The announcement follows an earlier dividend payout of approximately Sh1.3 billion to private and institutional shareholders on February 13, 2025.
KenGen Chairman Alfred Agoi attributed the company’s strong financial performance to improved electricity generation capacity, operational efficiencies, and prudent financial management.
“Our dividend payout is not merely a financial milestone but a clear reflection of effective policy collaborations and our commitment to Kenya’s growth,” Agoi stated.
Managing Director and CEO Peter Njenga echoed these sentiments, noting that KenGen’s profitability is a result of strategic investments in renewable energy and infrastructure.
“Our performance demonstrates our ability to balance immediate shareholder returns with long-term investments in Kenya’s energy future. This dividend is a tangible affirmation of our strategic focus, which has optimized our operations and reinforced our leadership in the power generation sector,” Njenga said.
Energy Principal Secretary Alex Wachira reiterated the government’s commitment to supporting KenGen’s expansion in renewable energy, including geothermal, hydro, solar, and wind projects.
“KenGen is well-run, consistently delivering profit year after year. Moving forward, our focus will be on supporting new projects through the National Treasury to help access funding from development partners,” Wachira stated.
KenGen remains a key player in Kenya’s energy sector, with an installed generation capacity of 1,785MW, of which over 93 percent is sourced from green energy.
The company continues to prioritize sustainable energy investments to strengthen national power security and economic growth.
The state-owned power producer, which is the largest electricity generator in East Africa, has also paid out a total dividend of Sh4.3 billion to its shareholders, marking a 117 percent increase per share from the previous year.
The government, which holds a 70 percent stake in the NSE-listed firm, has pledged further support to KenGen’s projects as part of its broader strategy to enhance the country’s energy capacity and transition to cleaner sources of electricity.
