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July 10, 2025
1mo ago

MPs Warn KPLC May Collapse Under Ksh70B Deficit

MPs Warn KPLC May Collapse Under Ksh70B Deficit

The MPs have demanded immediate action from the electricity company...

✨ Key Highlights

The National Assembly’s Public Investments Committee has raised alarms about the potential collapse of Kenya Power Lighting Company (KPLC), citing a financial deficit of Ksh70 billion.

  • Current liabilities of Ksh115.2 billion against assets of Ksh44.2 billion indicate deep financial distress.
  • Key issues include inflated electricity bills and procurement irregularities, particularly a Ksh55.9 million contract violation.
  • CEO Joseph Siror attributed the crisis to prior capital-intensive projects and emphasized recovery strategies, including reducing system losses and enhancing debt collection.

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MPs Warn KPLC May Collapse Under Ksh70B Deficit