Under the Microscope

Kenya

Kenya's President Uhuru Kenyatta has ordered the cancellation of all ongoing and incomplete power purchase agreements being negotiated with the state distributor Kenya Power. The president also replaced the energy minister. The nullification is part of a raft of recommendations from a team he set up in March to review the agreements.  Kenyatta said that future power purchase agreements with the government will have to be in line with its Least Cost Power Development Plan, which emphasises the use of renewable energy sources. To analyse this story Roy Mootoni Portfolio Manager and Analyst at Absa Asset Management