The National Treasury is now seeking to have Kenya Power board members ousted.
The company has received a letter from the Treasury Cabinet Secretary Prof. Njuguna Ndung’u, the government floated a proposal to be added to the annual general meeting (AGM) on December 16, calling for the expulsion of the company’s directors.
“As a shareholder with 50.1 per cent shareholding in Kenya Power, we require the Board of Directors to table before the AGM an ordinary resolution for the removal of directors according to Article 129 of the company’s Memorandum and Articles of Association,” said Prof Ndung’u.
“The special notice is to be included in the agenda of the company’s 101 AGM to be held by December 31, 2022, and shall recommend the removal of Vivienne Yeda as a Director of the company,” said the CS in the letter addressed to Kenya Power Secretary Imelda Bore.
The firm has announced that, as of the date of the AGM, Vivienne Yeda, the current Board Chairperson, will no longer serve as a director for Kenya Power.
Ms Yeda’s departure follows the exits of Elizabeth Rogo, Abdulrazaq Ali, and Caroline Kittony-Waiyaki from the firm in June.
Despite directors Yida Kemoli, Sarah Mbwaya, James Gitiba, and Justice (Rtd) Aaron Ringera running for re-election to the organization’s main decision-making body, the Treasury made its move.
Kenya Power, the nation’s primary energy distributor, has frequently made headlines for the wrong reasons, primarily as a result of recurrent leadership disputes, bad management, and unsatisfactory service provision.
Kenya Power was recently called out by Auditor-General Nancy Gathungu, for spending Ksh2 billion in the fiscal year 2021–2022 without the National Treasury’s consent.
The company’s erroneous purchasing of products and services was brought to light by Ms Gathungu, who also questioned the competence of the 36 employees the firm hired last year without following the proper procedure and put the corporation at risk of legal action from suppliers for violating procurement regulations.
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