KenGen #ticker:KEGN expects to write off Sh581.9 million out of the total of Sh23.9 billion it is claiming from Kenya Power #ticker:KPLC, the electricity generator has disclosed in its annual report for the year ended June 2020.
The credit loss has risen from Sh501.4 million the year before when the amount owed by the power distributor stood at Sh19.3 billion. The figures represent the initial losses suffered by the Nairobi Securities Exchange-listed firm from Kenya Power’s default.
