Kenya power company's warn of decline in profits
363 views · Published 22 October 2018 · 0:46 · Indexed 23 September 2026
Channel: CGTN Africa · 2018 · News & Politics
Kenya's power distribution company has issued a profit warning ahead of the official release of its financial results for June 2018. Kenya power's earnings dropped by at least 25 per cent compared to a similar period in 2017. The power firm is blaming the decline in profits on the overall slump in Kenya's economy and hydrological conditions. Most of Kenya's electricity is generated by hydro-power stations. The state-owned company says a delay in approving an increase on power tariffs also affected its performance. Kenya power recently appointed an interim senior management team to run the company. This followed the arrest of the CEO and other senior managers. They are facing corruption charges. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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