Kenya Power To Take A Debt Of Sh56 Billion

(Last Updated On: November 20, 2014)

Kenya-Power

Kenya Power is planning a massive infrastructure upgrade in the coming year. This will be financed mainly by a debt of around Ksh56 billion. It has already signed a 7 year loan of Ksh17 billion with Standard Chartered Plc and many more loans are coming soon.

A Ksh9 billion loan agreement with Exim Bank of China has been finalized and will meet with World Bank to get another huge loan.

Funds will be used to acquire transformers and other construction material. These will be used in the construction of new substations and upgrading of the aging power transmission network hence improving quality and reliability of power. An additional 1 million new customers are expected into the grid. Currently Kenya Power has only 2.8 million customers out of a population of 42 million.