KenGen Shareholders Back Governance Overhaul Aimed at Reassuring Investors
By James Nyaigoti, Nairobi, Thursday, February 12, 2026: Shareholders of Kenya Electricity Generating Company PLC (KenGen) today approved changes to the company’s governance framework in a move aimed at strengthening board independence and minority shareholder protections, as the state-backed utility seeks to bolster investor confidence. The resolution was approved at a duly convened Extraordinary General Meeting held virtually, as private investors increasingly assert influence over long-term capital allocation and governance discipline within Kenya’s listed state-controlled entities. Kenya Electricity Generating Company PLC (KenGen), which supplies over 60% of the country’s electricity, affirmed that the approved amendments do not dilute or alter the Government of Kenya’s ownership stake. Instead, executives framed the reforms as a structural upgrade intended to align the company with international governance standards for publicly listed firms with domin...