Kenya Electricity Generating Company (KenGen) has disbursed KSh 3 billion in dividends to the National Treasury for the financial year ending June 30, 2024. This follows a strong financial performance that saw the company record a net profit of KSh 6.8 billion.
Speaking during the cheque handover ceremony at Stima Plaza, Nairobi, National Treasury and Economic Planning Cabinet Secretary John Mbadi commended KenGen’s financial stability and its critical 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 stated.
This comes after KenGen had earlier disbursed approximately KSh 1.3 billion in dividends to private and institutional shareholders on February 13, 2025.
KenGen Chairman Alfred Agoi attributed the strong financial results to increased electricity generation capacity, improved 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 remarked.
Managing Director and CEO Peter Njenga echoed these sentiments, stating that KenGen’s profitability is driven by 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 reaffirmed 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, which remains the largest electricity generator in East Africa, has an installed generation capacity of 1,785MW, with over 93 percent sourced from green energy.
The company continues to prioritize sustainable energy investments to enhance national power security and economic growth.
With the latest dividend payout, KenGen has now distributed a total of KSh 4.3 billion to its shareholders, marking a 117 percent increase per share compared to the previous year.
The government, which holds a 70 percent stake in the NSE-listed firm, has pledged further support for KenGen’s projects as part of efforts to boost the country’s energy capacity and accelerate the transition to cleaner power sources.
