Sharp Daily
No Result
View All Result
Friday, August 8, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya Power Looking To Expand Its Network In New Ksh. 10 Billion Investment Plan

Brian Bulinga by Brian Bulinga
May 26, 2023
in News
Reading Time: 2 mins read

On Wednesday, 24th May 2023, the Kenya Power and Lighting Company announced plans to heavily invest in expanding its network throughout the country. The expenditure for the project is targeted to be Kshs. 10 billion during the financial year beginning in July 2023.

The project will include construction of new substations and power lines with this being with the aim of strengthening its electricity distribution network within the country.

Dr. (Eng) Joseph Siror, the Managing Director and CEO of Kenya Power, highlighted the investment as being aligned with the company’s strategy of strengthening its network to ensure improved quality and reliability of service to its customers.

Read more: Kenya Power Managing Director Defends Increased Tariffs

RELATEDPOSTS

Why young professionals should care about pensions

July 23, 2025

Why the obsession with foreign investors is holding back local wealth

June 10, 2025

The CEO was speaking during the launch of BasiGo’s first public electric bus charging station. He added that the strategic grid investments would provide sufficient capacity for the anticipated increase in the country’s energy demands resulting from growth in new e-mobility and clean cooking areas.

“In the last two years, the country has witnessed an unprecedented interest from local and international stakeholders looking to invest and develop Kenya’s e-mobility sector. To adequately support e-mobility and other sectors of the economy, we will sustain investments to strengthen the grid and enhance network stability and flexibility for quality and reliable service,” he said.

With the planned investment in expansion, many Kenyans will hope that the rising electricity costs might wane and finally stop, given the high costs of living that have continued to batter households’ incomes. Electricity has shot up, with Kenyans paying Kshs. 26.10 per unit from April 1st 2023, up from Kshs 21.99 per unit, a 19% increase for those consuming between 30 and 100 units per month.

Read more: Tough Times For Kenya Power As It Records A KSh1.1Bn Half Year Loss

The hope is that a better distribution infrastructure, coupled with enhanced investment and production from renewable sources, such as the Olkaria project, might reduce electricity wastage and therefore pass on the savings to consumers.

However, Kenya Power has announced a Kshs. 1.14 billion loss in February 2023 for the half-year ended December 2023, Kenyans might have to weather higher prices for a while longer as the firm waits to return to profitability.

 

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Should Social Media be Banned in the Workplace?

Next Post

The State Of Kenya’s Foreign Direct Investments

Brian Bulinga

Brian Bulinga

Related Posts

commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025

LATEST STORIES

Asset allocation dividing an investment portfolio among different asset categories.

Building a Retirement Portfolio in Kenya

August 8, 2025

Steps banks can take to align with fair lending practices

August 7, 2025

The hidden cost of outdated economic statistics

August 7, 2025

EABL posts 12.2% profit surge, strengthens regional footprint despite rising illicit trade

August 1, 2025
1049795356

Maximizing Your Pension Contributions

August 1, 2025

The functional role of narrative in financial markets

August 1, 2025

Tanzania’s protectionist shift and what it means for Kenyan entrepreneurs and regional trade

July 31, 2025

Kenya’s Interest Rate Cut: A Turning Point for Growth

July 31, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024