Weak shilling inflates KenGen debt by Sh3.2 billion

The weakening of the shilling inflated KenGen’s foreign currency loans by Sh3.2 billion in the year ended June, with the foreign exchange volatility forming part of costs that the company and other power producers pass on to electricity consumers.

The unrealized loss on revaluation of borrowings in the review period reversed a gain of Sh701.2 million that the Nairobi Securities Exchange-listed firm reported a year earlier.