• Government of Kenya owns 50.1% shares in Kenya Power
• Kenya Power’s 49.9 other shares were offered to private investors
• Billionaire Chris Kirubi is Kenya Power’s individual largest shareholder with over KSh 225 million shareholding
• Other shares are owned by companies like Africa Opportunity Partners Ltd, Parametric Portfolio Associates LLC, Norges Bank Investment Management and Robeco Institutional Asset Management BV

Every Kenyan, whether connected to the national power (electricity) grid or not comes in contact with Kenya Power either directly or indirectly.

This is because, those with electricity connected to their homes have to pay bills for consumed power and other expenses, others have to pay for connection and others depend on services made possible by electricity.

Who are Kenya Power

Kenya Power, formally known as Kenya Power and Lighting Company is one of Kenya’s top electricity distributor and/or transmitter.

This means if you want electricity connected to your home you must apply for the same through Kenya Power and their authorised agents.

As at June 2020, TrendingLeo.co.ke established that Kenya Power and Lighting Company (KPLC) Public Limited Company (PLC) or the rebranded Kenya Power sells electricity to at least 7.5 million Kenyans.

The company owns and operates majority, if not all Kenyan electricity transmission and distribution systems in the literally monopolised sector.

Many Kenyans, time and again seek to know who owns Kenya Power, which they interact with regularly whether physically, indirectly of virtually.

Kenya Power has been on the spot many times over irregular billing, short-notice hiking of electricity bills, changing of tariffs and cashless payment systems failure.

Little is usually done to address these complaints leading many Kenyans to believe that the company is controlled by wealthy untouchable individuals, even associating it with the first family matriarch Mama Ngina.

TrendingLeo.co.ke, though established that Kenya Power has a majority ownership by the Kenyan government.

According to the company, government owns 50.1% of shareholding at Kenya Power.

The remaining shareholding of 49.9% in Kenya Power belongs to private investors.

Kenya Power is currently listed in the Nairobi Stock Exchange (NSE).

Chris Kirubi: A Kenyan Billionaire

According to Forbes, Kenyan billionaire Chris Kirubi became Kenya Power’s individual largest shareholder with over KSh 225 million worthy of shares.

The real estate developer, disc jockey and a lover of expensive cars was reported to have silently piled his shareholding at KPLC in 2010 when it was listed to NSE.

In 2010, Kenya Power offered over 480 million shares to the public.

Business Daily reported that despite Kirubi accumulating such offers at Kenya Power, he only account for 0.79% and would hardly influence decision making of the electricity distribution company through a vote.

Other Shareholders

Africa Opportunity Partners Ltd.	24,073,061	1.23%
Parametric Portfolio Associates LLC	15,998,808	0.82%
Norges Bank Investment Management	14,989,380	0.77%
Robeco Institutional Asset Management BV	3,150,000	0.16%

TrendingLeo.co.ke established that Kenya Power is the second largest electricity distributor after Kenya Electricity Generating Company (Kengen).

Kenya Power has a market value (market capitalisation) of over KSh 38.2 billion putting it in the league of Kenya’s top public companies.

In August 2020 though, Kenya Power indicated it expected its profits to dip by about 25% owing to the vagaries of COVID-19 on the economy.

Kenya Power and Lighting Company (KPLC) expects its profits to decline by at least 25 per cent this year due to the adverse effects of Covid-19.

This means Kenya Power will make less than KSh 196 million in 2020 if not get into a loss compared to 2019 when it recorded profits of KSh 262 million.

The 2019 profit was however a huge dip from 2018’s after tax profit of KSh 3.27 billion.