Kenya Power receives government approval to bill select customers in US dollars, euros, and Sterling pounds, marking a significant milestone for the utility company.
This move comes as Kenya Power seeks to mitigate foreign exchange losses and enhance its financial performance.
Finance Manager Stephen Vikiru highlights extensive engagement with regulatory bodies and government officials to secure necessary approvals, emphasizing the strategic importance of this decision.
With a remarkable turnaround, Kenya Power reports a net profit of Sh319 million in the half-year ending December 2023, compared to a net loss of Sh1.14 billion in the previous year.
This resurgence is attributed to a 31% increase in revenues, driven by higher electricity sales and the implementation of new tariff structures.
