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KenGen eyes more loans as debt drops to five-year low

KenGen managing director Albert Mugo: We are in talks with development finance institutions. PHOTO | FILE

The Kenya Electricity Generating Company’s debt level has dropped to a five-year low, giving the power firm headroom to chalk up more loans for financing of new projects.

The drop in debt level was helped by the June rights issue that saw KenGen’s debt-to-equity ratio drop thanks to the Sh26.4 billion injected in new equity.

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