Kenya Electricity Generating Company PLC has announced changes to its board composition after shareholders approved amendments to the company’s Articles of Association aimed at strengthening governance, resulting in the exit of three independent non-executive directors.
Kenya Electricity Generating Company PLC (KenGen), Kenya’s largest electricity producer, has announced changes to the composition of its board following governance reforms approved by shareholders earlier this year.
In a public notice issued on March 6, the state-linked power producer confirmed that three independent non-executive directors had relinquished their positions as part of a restructuring of the board structure adopted after an Extraordinary General Meeting held on February 12.
The directors leaving the board are Alfred Agoi Masadia, Rehema Hassan and Bernard Ngugi. Their departures took effect on March 5 following the adoption of amended governance provisions contained in the company’s Articles of Association.
The board said the amendments were designed to strengthen institutional governance, improve oversight and reinforce independence within KenGen’s leadership structure.
Governance Reforms
The governance changes were approved during the February extraordinary general meeting, where shareholders endorsed revisions to the company’s Articles of Association to adjust the structure and composition of the board.
According to KenGen, the reforms aim to strengthen accountability and long-term institutional oversight at the company as it continues to expand its energy generation capacity and implement strategic projects.
“The amendments approved by shareholders provide for a revised governance structure and board composition intended to further strengthen independence, accountability and long-term institutional oversight within the company,” the board said in the statement.
Board restructuring among listed state corporations has become increasingly common as companies align their governance frameworks with evolving corporate governance codes, regulatory requirements and shareholder expectations.
Recognition of Outgoing Directors
The board paid tribute to the outgoing directors for their contributions to the company’s growth and governance during their tenure.
Former chairman Alfred Agoi Masadia was credited with providing strategic leadership during a period that saw KenGen record its highest-ever profit after tax of approximately KSh10 billion.
The company said the outgoing board members had collectively played a role in strengthening its governance framework and guiding its strategic direction during a period of operational expansion.
“The board expresses its sincere appreciation to the outgoing directors for their distinguished service and valuable contribution to the company’s strategic direction, governance and operational success,” the statement said.
Strategic Role in Kenya’s Energy Sector
KenGen remains the dominant electricity generator in Kenya, operating a diversified portfolio of geothermal, hydroelectric, wind and thermal power plants that supply the bulk of the country’s electricity to the national grid managed by Kenya Power.
The company has been at the centre of Kenya’s strategy to expand renewable energy capacity, particularly geothermal power development in the Rift Valley.
Governance changes at KenGen therefore carry significance beyond the company itself, as they affect leadership oversight of some of the country’s largest power generation projects and investments.
KenGen has continued to pursue investments aimed at expanding capacity and improving energy reliability while supporting Kenya’s transition toward cleaner power sources.
Leadership Continuity
KenGen said the board and management remain committed to ensuring continuity in leadership and execution of the company’s strategic initiatives following the governance changes.
In the statement issued “by order of the board,” managing director and chief executive Peter Njenga said the company would continue focusing on operational efficiency, financial sustainability and delivering long-term value to shareholders.
The board added that the governance reforms are intended to position KenGen for sustained growth while reinforcing accountability and transparency in its operations.
