1 September 2014

Kenya Power Customers to Get Loans to Fund New Connections

KENYA Power is working with various financial institutions to give loans that will assist people to pay for new connections.

The firm's managing director Ben Chumo said it already has deals with locals banks such as National Bank, Jamii Bora bank, Equity bank and its own Stima loan for the connections.

Chumo said the move will help the potential customers especially in rural areas to access affordable loans for new connections.

He was speaking during a press briefing in Narok town on Saturday.

"The financing arrangements at the cost Sh638 million credit facility spearheaded by Kenya power in collaboration with the government and French Development Agency will help to ease connection," said Chumo.

Chumo said the company recorded 443,000 new customers last year from 307,000 recorded in the previous year.

"The government aims to increase electricity access rate to 70 per cent of Kenyans in the next five years.Currently, 32 per cent of Kenyans have access to electricity," said Chumo.

He added that the company targets to connect one million new customers to the national grid in 2014-15 financial year.


U.S. Dollars and Kenya's 'Disappeared'

Just over a year ago, in May, 2015, Kenyan Border Patrol police arrested Hussein Ali Abdullahi from his shop in Wajir,… Read more »

Copyright © 2014 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 1,000 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.