KenGen shares rise despite NSE trading freeze
Kenya Electricity Generating Company closed the week as the top performer at the Nairobi Securities Exchange despite trading restrictions imposed on Thursday. The power generator’s stock climbed nearly 9 percent to reach 9.98 shillings by week’s end. The company moved 6.13 million shares worth 65.8 billion shillings, ranking second behind Safaricom in trading activity.
The exchange temporarily halted trading in KenGen after disputing the authorization of the released unaudited financial results. The firm reported that net profit surged 79 percent to 5.3 billion shillings for the six months ended Dec. 31, 2024. Management credited aggressive cost reductions and improved operational efficiency for the gains.
KenGen controls more than 60 percent of the electricity generation market in Eastern Africa. The company operates 1,785 megawatts of installed capacity, split among hydro, geothermal, wind, and thermal sources. Investors value the stock for its consistent dividend payments on the Nairobi bourse.
