Tag: finance

Dr. Ken Tarus Acting MD & CEO Kenya Power

Dr. Tarus, 46, brings with him over 20 years’ corporate leadership and management experience, five of which are in the energy sector. Prior to his appointment, he was the Company’s General Manager in charge of Finance and a member of the executive management team for a period of two years.

Previously, Dr Tarus worked at the Rural Electrification Authority as head of Finance between 2012 and 2014 prior to which he was the Deputy Vice Chancellor for Finance, Planning and Administration at KCA University. He has held various leadership roles in the local banking sector as Head of Finance, IT and Administration at Bank of Africa, Financial Controller at Standard Chartered Bank and diverse positions at Kenya Commercial Bank.     

He holds a Doctor of Philosophy degree in Business Administration (Finance) from Kabarak University, an MBA from the University of Nairobi and a Bachelor of Commerce Degree from the same institution. Dr. Tarus is a Certified Public Accountant and a member of the Kenya Institute of Management.

Dr. Ken Tarus Bcom,MBA,PHD(B.Ad., Finance) Acting MD & CEO Kenya Power

Dr. Tarus, 46, brings with him over 20 years’ corporate leadership and management experience, five of which are in the energy sector. Prior to his appointment, he was the Company’s General Manager in charge of Finance and a member of the executive management team for a period of two years.

Previously, Dr Tarus worked at the Rural Electrification Authority as head of Finance between 2012 and 2014 prior to which he was the Deputy Vice Chancellor for Finance, Planning and Administration at KCA University. He has held various leadership roles in the local banking sector as Head of Finance, IT and Administration at Bank of Africa, Financial Controller at Standard Chartered Bank and diverse positions at Kenya Commercial Bank.     

He holds a Doctor of Philosophy degree in Business Administration (Finance) from Kabarak University, an MBA from the University of Nairobi and a Bachelor of Commerce Degree from the same institution. Dr. Tarus is a Certified Public Accountant and a member of the Kenya Institute of Management.

APPOINTMENT OF DR. KEN TARUS AS THE AG. MANAGING DIRECTOR & CEO

January 04th, 2017, Nairobi:

The Kenya Power Board of Directors is pleased to announce the appointment of Dr. Ken Tarus as the Acting Managing Director and Chief Executive Officer of the Company with effect from today (4th January 2017).

This follows the exit of the current MD & CEO, Dr. Ben Chumo, at the end of his contract period on Friday this week (6th January 2017). Dr. Chumo has been the head of the Company since January 2014 in a period characterised by exponential growth in customer connections and implementation of network improvement projects among other major corporate milestones.

Dr. Tarus, 46, brings with him over 20 years’ corporate leadership and management experience, five of which are in the energy sector. Prior to his appointment, he was the Company’s General Manager in charge of Finance and a member of the executive management team for a period of two years.

Previously, Dr Tarus worked at the Rural Electrification Authority as head of Finance between 2012 and 2014 prior to which he was the Deputy Vice Chancellor for Finance, Planning and Administration at KCA University. He has held various leadership roles in the local banking sector as Head of Finance, IT and Administration at Bank of Africa, Financial Controller at Standard Chartered Bank and diverse positions at Kenya Commercial Bank.     

He holds a Doctor of Philosophy degree in Business Administration (Finance) from Kabarak University, an MBA from the University of Nairobi and a Bachelor of Commerce Degree from the same institution. Dr. Tarus is a Certified Public Accountant and a member of the Kenya Institute of Management.

Kenya Power Chairman, Hon. Kenneth Marende, said the Board of Directors is confident that business operations of the Company will continue to run smoothly under the interim leadership of Dr. Tarus pending a competitive sourcing for a substantive Managing Director.

“With full responsibility for the leadership and development of the Kenya Power’s electricity distribution business, Dr. Tarus will play a key role in entrenching the Company as a leader in electricity subsector by aggressively pursuing its business growth and diversification strategy,” Hon. Marende said.

For more information, please contact:


Kevin Sang
Ag. Manager, Corporate Communications
Tel: (254) 20 3201639/22/1752
Mobile : +254 722 114597
E-mail : ksang@kplc.co.ke
Stima Plaza, Parklands, Nairobi
P O Box 45955 - 00100 Nairobi
http://www.kplc.co.ke  

 

APPOINTMENT OF DR. KEN TARUS AS THE AG. MANAGING DIRECTOR & CEO

APPOINTMENT OF DR. KEN TARUS AS THE AG. MANAGING DIRECTOR & CEO

January 04th, 2017, Nairobi:

The Kenya Power Board of Directors is pleased to announce the appointment of Dr. Ken Tarus as the Acting Managing Director and Chief Executive Officer of the Company with effect from today (4th January 2017).

This follows the exit of the current MD & CEO, Dr. Ben Chumo, at the end of his contract period on Friday this week (6th January 2017). Dr. Chumo has been the head of the Company since January 2014 in a period characterised by exponential growth in customer connections and implementation of network improvement projects among other major corporate milestones.

Dr. Tarus, 46, brings with him over 20 years’ corporate leadership and management experience, five of which are in the energy sector. Prior to his appointment, he was the Company’s General Manager in charge of Finance and a member of the executive management team for a period of two years.

Previously, Dr Tarus worked at the Rural Electrification Authority as head of Finance between 2012 and 2014 prior to which he was the Deputy Vice Chancellor for Finance, Planning and Administration at KCA University. He has held various leadership roles in the local banking sector as Head of Finance, IT and Administration at Bank of Africa, Financial Controller at Standard Chartered Bank and diverse positions at Kenya Commercial Bank.     

He holds a Doctor of Philosophy degree in Business Administration (Finance) from Kabarak University, an MBA from the University of Nairobi and a Bachelor of Commerce Degree from the same institution. Dr. Tarus is a Certified Public Accountant and a member of the Kenya Institute of Management.

Kenya Power Chairman, Hon. Kenneth Marende, said the Board of Directors is confident that business operations of the Company will continue to run smoothly under the interim leadership of Dr. Tarus pending a competitive sourcing for a substantive Managing Director.

“With full responsibility for the leadership and development of the Kenya Power’s electricity distribution business, Dr. Tarus will play a key role in entrenching the Company as a leader in electricity subsector by aggressively pursuing its business growth and diversification strategy,” Hon. Marende said.

For more information, please contact:


Kevin Sang
Ag. Manager, Corporate Communications
Tel: (254) 20 3201639/22/1752
Mobile : +254 722 114597
E-mail : ksang@kplc.co.ke
Stima Plaza, Parklands, Nairobi
P O Box 45955 - 00100 Nairobi
http://www.kplc.co.ke  

 

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.

 

Read More

Kenya Power seeks pole suppliers for second phase of Last Mile Connectivity Project

Nairobi, July 14, 2016………Kenya Power has commenced procurement of 195,299 wooden poles in preparation to implement the second phase of the Last Mile Connectivity Project.

 

Spearheaded by  Government under  National Electrification Programme (NEP), this phase of the Last Mile Project is financed by the World Bank to a tune of Sh15 billion and targets to connect 312,500 households to the national grid.

 

A total of 44,701 concrete poles will also be procured under this phase, said Kenya Power’s Managing Director and CEO, Dr Ben Chumo.

 

“Implementation of this phase is expected to start later this financial year. We aim to connect over a million new customers every year going forward in order to achieve the targeted milestones,” said Dr Chumo, indicating that the Company’s demand for poles will rise in the short term.

 

Under this phase, Kenya Power will procure prepaid meters, poles, cables, conductors and 1,000 transformers for grid extension, on behalf of contractors as per the World Bank’s procurement guidelines.

 

The first phase of Last Mile Connectivity Project is ongoing with contractors already mobilized and on the ground. It is financed by the Government and the African Development Bank a cost of Sh13.5 billion targeting 314,000 households.

 

“The works under this phase is being implemented in all the 47 counties by 10 contractors. This initial phase of the project, earmarked for completion by June 2017, is projected to use a total of  319,203 poles,” Dr Chumo said.

 

Last year, Kenya Power procured 377,000 poles locally, both wooden and concrete, in support of “Buy Kenya Build Kenya Initiative”. The Company’s spend on poles in the last three years stands at Sh7.9 billion.

 

“We are now buying all our poles locally unlike in the past where we used to import from as far as Brazil, Congo and south Africa”, Dr Chumo said. “Currently we have a total of 35 manufacturers and suppliers,” he added.

 

The Company’s demand for poles has been growing over the years due to undertaking of network upgrade programmes that involve replacement of wooden poles with concrete ones and extension of low and medium voltage lines.

 

In the last two years, Kenya Power has been involved in implementation of the Government- funded National Lighting Programme targeting 52 towns across the country in a bid to enhance security and transform Kenya into a 24-hour economy.

 

In addition, since 2014, 1.14 million new customers have been supplied with electricity under the Global Partnership on Output- Based Aid (GPOBA) programme funded by the World Bank to aid cheap connections, mainly in slum areas, creating demand for poles.

 

 

For more information, contact:

Kenya Power Corporate Communications Dept.

Tel. 3201630/43 or/39

E-mail communications@kenyapower.co.ke

KPLC AND AFD SIGN A 56 MILLION EURO (6 BILLION KENYAN SHILLING) FINANCING AGREEMENT FOR THE IMPLEMENTATION OF KENYA POWER’S DISTRIBUTION

KPLC AND AFD SIGN A 56 MILLION EURO (6 BILLION KENYAN SHILLING) FINANCING AGREEMENT FOR THE IMPLEMENTATION OF KENYA POWER’S DISTRIBUTION MASTERPLAN

Kenya Power Managing Director and Chief Executive Officer, Dr. Ben CHUMO, together with the Regional Director of AFD Nairobi Office, Mr. Yves BOUDOT, in the presence of the French Ambassador to Kenya, H.E. Mr. Rémi MARECHAUX, have today signed a financing agreement for the provision by AFD of a 56 M€ loan to Kenya Power.

Read More

Shs. 20 billion fund for electricity projects

Tuesday, 15th September, 2015

Thousands of Kenyans will benefit from access to affordable electricity connection following increased funding of electricity projects by the African Development Bank (AfDB) and the Government of Kenya (Gok).

Read More

Finance

Kenya Power has extensive financial relationships internally and externally, it is the job of the financial division to manage these relationships. Here the finance division is able to oversee the company’s investments, the modest regulated returns, and the long investment recovery period. In addition the Company in partnership with the World Bank has agreed to undertake a comprehensive evaluation of the Company’s operations and finances.