Kenya Power Chief Aims to Bring it Out of Finacial Woes into Profitability

Kenya Power Chief Aims to Bring it Out of Finacial Woes into Profitability

Electricity distributor Kenya Power’s new chief executive has said his top priority is to lead the company towards improved profitability while ensuring the business fulfills its socio-economic purpose.

Bernard Ngugi, who has been in charge of Supply Chain at Kenya Power takes over from Eng. Jared Othieno who had been appointed Acting Managing Director and chief executive in July 2018 following the exit of Ken Tarus.

“This will be achieved by implementing our 5 Year Strategic Plan that broadly aims at delivering excellent customer service and ensuring our business sustainability,” Ngugi said.

“We believe that Mr. Ngugi will see the Company through an important stage of its development and growth as we work to diligently implement all our plans to strengthen the Company and the commercial aspects of our business,” said Kenya Power’s Chairman Amb (Eng) Mahboub Maalim.

Ngugi has over 30 years’ experience in the Company with expertise in financial and revenue accounting, internal audit and supply chain management. 

He holds a Master of Business Administration in Finance and Bachelor of Commerce in Accounting. He is a Certified Public Accountant of Kenya and a member of the Institute of Certified Public Accountants of Kenya. 

He is also a Certified Public Secretary of Kenya and a member of the Institute of Certified Public Secretaries of Kenya. Additionally, Mr. Ngugi holds a Graduate Diploma from the Chartered Institute of Purchasing and Supplies and is a member of the Kenya Institute of Supplies Management.

In September, the company issued a profit warning of up to 25 percent for the financial year ending June 30, 2019. The drop was attributed to among others, an increase in non-fuel costs in line with the company’s long term strategy of growing cheaper and cleaner renewable energy.