Kenya Power is looking to transfer its power transmission assets valued at about Ksh70 billion ($460.52 million) to the Kenya Electricity Transmission Company (Ketraco), as part of an ambitious balance sheet-restructuring plan aimed at improving the utility’s wobbling cash-flow position.
Chief Executive Joseph Siror told The EastAfrican that the balance sheet clean-up will address the firm’s persistent negative working capital position, mitigate forex exposure and contain the mounting finance costs related to the depreciation of the local currency against the dollar and the euro.
