Corporate Governance Practices

The Board’s aim is to achieve the highest standards of corporate transparency through financial reporting and accountability to facilitate achievement of the prime goal of delivering power to the Government of Kenya.

The Company is also cognizant of the interests of a range of stakeholders that is important to promote long term sustainability.

Our commitment to our stakeholders

We recognize the importance of stakeholders in achieving our target and thereafter maintaining the success of our company. Therefore, our commitment to them is as follows:

• Customers ( citizens and non-citizens): Deliver affordable energy that will not only lower the cost of living but also and spur growth by increasing disposable income
• Shareholders and Investors: Giving them a return on their capital invested
• Lenders: Assuring them that their funds will be used as stipulated and their interest and principal paid on time
• Employees: Recognition, growth and diversification of skills and minding about employees well-being and future
• Government and Regulators: A successful, stable and ethical company that contributes to economic growth and the future of the country
• Community: Through our responsible investments, the communities can rely on companies that seek to give back and add value to their livelihoods and wellbeing

Board of Directors Composition

The Company maintains a unitary Board structure. The Company’s Articles of Association provides that the maximum number of the directors is seven unless otherwise determined by the Company at a General Meeting. The current Board of Directors includes one Executive Director and four Non-Executive Directors, four of whom are independent Directors who comprise more than one third of the Board. The Chairman of the Board is a Non-Executive Director

Responsibilities of the Board

The Board always acts in the best interests of the Company in a manner based on the principles of transparency, integrity, and accountability so as to achieve the continued prosperity for the Company and its stakeholders.

The Board is responsible for strategy formulation, risk identification, senior management selection and compensation, integrity of financial controls and general legal compliance. The Board has also established a management structure, with clearly defined roles, responsibilities and reporting lines.

The division of the responsibilities between the Chairman and Chief Executive Officer are well defined.