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How Kenya Power Sank From Making Billions in Profits to Financial Darkness

When Mr Bernard Ngugi was appointed the Kenya Power chief executive officer on October 29, 2019, he promised to ensure the company’s business sustainability and make money for the shareholders.

He didn’t. As he might have found out, Kenya Power was in deep trouble. But 21 months later, Mr Ngugi has either been shown the door – or simply jumped out – as the company continues to sink into financial blackouts, debts and possible collapse.

And in the regular game of musical chairs at the listed company, the board yesterday announced that it had appointed Ms Rosemary Oduor as the acting managing director and chief executive. The statement said that Mr Ngugi “resigned” after working with the company for 32 years.

Read more: Daily Nation


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