- The Kenya Power and Lighting Company (KPLC) on January 8 announced an impressive 367 per cent increase in its share price.
- One of the key strategies involved is developing mechanisms to monitor and evaluate all projects, initiatives, and interventions to ensure accountability.
The Kenya Power and Lighting Company (KPLC) on January 8 announced an impressive 367 per cent increase in its share price.
In a statement, the company highlighted this significant surge at the Nairobi Securities Exchange (NSE), with its shares rising from Ksh 1.38 in December 2023 to Ksh 6.44 as of Tuesday, January 7, 2025.
“This impressive performance is largely driven by a turnaround strategy that the Company has been implementing under the leadership of the Board of Directors and with support from the Government of Kenya,” read the statement.
One of the key strategies involved, developing mechanisms to monitor and evaluate all projects, initiatives, and interventions to ensure accountability.
These frameworks generated data provided insights and offered key lessons for future decision-making and initiative prioritization.
KPLC also established a communication framework designed for both internal and external audiences, ensuring that all stakeholders are informed about current and upcoming initiatives. The framework also focuses on documenting and sharing the results of these initiatives.
To achieve its communication objectives and effectively connect with key stakeholders, KPLC leveraged its existing structures, including its Sales and Marketing teams and Corporate Communications departments.
The company reported a net profit of Ksh 30 billion for the financial year 2023/24, attributed to several factors, including:
- A 21 per cent increase in sales, reaching Ksh 231.12 billion, driven by the addition of new customers, increased economic activity, and a revised cost-reflective tariff structure.
- A decrease in finance costs by Ksh 24.84 billion, resulting from the Kenyan Shilling strengthening against major global currencies.
- A profit before tax of Ksh 43.67 billion, compared to a loss before tax of Ksh 4.43 billion in the previous period.