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KenGen sells five per cent stake to South Africans for Sh2.3bn

Mr Albert Mugo, KenGen MD. PHOTO | FILE

By  Victor Juma

Business Editor

Nation Media Group

Electricity producer KenGen has sold a 5.33 per cent stake to South Africa’s pension fund, Public Investment Corporation (PIC), for Sh2.3 billion.

Proceeds of the sale are being used to plug a financing gap that was left after last year’s sale of shares in a rights issue.  

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