Kenya Power named most Socially Innovative Company at Africa Investor Awards
Nairobi, September 20, 2016………Kenya Power emerged top in the innovation category at the just concluded African Investor’s CEO Institutional Investment Summit & Awards 2016.
The awards, organized by Africa Investor (Ai), a leading international investment and communications group in conjunction with New York based NASDAQ Exchange, were held yesterday, 19th September.
Kenya Power’s Managing Director & CEO Dr Ben Chumo received the award on behalf of the Company. Also feted was Kenya’s Nairobi Securities Exchange.
Kenya Power scooped the Most Innovative Ai SRI 50 Company award for its investment in the GPOBA (Global Partnership on Output-Based Aid) project.
Launched in 2014, GPOBA, a World Bank- funded electrification project implemented by Kenya Power, is targeted at connecting low end customers primarily those living in informal settlements and rural areas.
Customers make a contribution of Kshs 1,160 per household, and more than 1.4 million households have benefitted from the project in various parts across the country.
Beside improving the connectivity rate and adding the Company customer base, the Scheme addressed the perennial problem of electricity theft in informal settlement enabling the Company to make sales which previously was not possible.
Socially, the scheme has been able to address some challenges such as injuries, loss of life and property as a result of illegal and poor connection.
It has also provided opportunities for small business to emerge and thrive in informal settlements. The project is also a key highlight of the Company’s social role to promote inclusion of the poor to mainstream infrastructure at a lower cost.
The annual Africa Investor awards are preceded by sector-focused investment summits that exclusively hosts influential leaders from industry, finance, government and policy to identify and advance Africa investment projects. This year the summit was held alongside the annual United Nation General Assembly.
Nairobi, September 20, 2016………Kenya Power emerged top in the innovation category at the just concluded African Investor’s CEO Institutional Investment Summit & Awards 2016.
The awards, organized by Africa Investor (Ai), a leading international investment and communications group in conjunction with New York based NASDAQ Exchange, were held yesterday, 19th September.
Kenya Power’s Managing Director & CEO Dr Ben Chumo received the award on behalf of the Company. Also feted was Kenya’s Nairobi Securities Exchange.
Kenya Power scooped the Most Innovative Ai SRI 50 Company award for its investment in the GPOBA (Global Partnership on Output-Based Aid) project.
Launched in 2014, GPOBA, a World Bank- funded electrification project implemented by Kenya Power, is targeted at connecting low end customers primarily those living in informal settlements and rural areas.
Customers make a contribution of Kshs 1,160 per household, and more than 1.4 million households have benefitted from the project in various parts across the country.
Beside improving the connectivity rate and adding the Company customer base, the Scheme addressed the perennial problem of electricity theft in informal settlement enabling the Company to make sales which previously was not possible.
Socially, the scheme has been able to address some challenges such as injuries, loss of life and property as a result of illegal and poor connection.
It has also provided opportunities for small business to emerge and thrive in informal settlements. The project is also a key highlight of the Company’s social role to promote inclusion of the poor to mainstream infrastructure at a lower cost.
The annual Africa Investor awards are preceded by sector-focused investment summits that exclusively hosts influential leaders from industry, finance, government and policy to identify and advance Africa investment projects. This year the summit was held alongside the annual United Nation General Assembly.
