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Why The IMF Advised Kenyan Government Not To Invest In KPLC

Recently Kenyans have been restless with the International Monetary Fund where they had expressed mixed feelings on because of the loan we were getting from the IMF. Later on the IMF highlighted some of the government organizations which were operating at a loss and advised the government to re look into the matter and if possible forensic audit should be conducted to make sure allocated funds are not misappropriated.

One of those firms was the Kenya Power and Lighting Company. This company has been making loses each and every time they file their financial report, they record losses of huge sums of money. The main reason for these loses are said to have been coming from the illegal connections of power where some use electricity for free.

In the recent past Kenya Power is said to have made a loss of 16 billion more than what is recommended by EPRA to be passed on to the electric consumers. This is the biggest power supply company which is currently enjoying the power monopoly in the market, since they bought the 11,462 gigawatt-hours from KenGen which was also coming up in this power supply business

Content created and supplied by: Breakingnow (via Opera News )

IMF International Monetary Fund Kenya Power and Lighting Company Kenyan Kenyans

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