AFC announces $25m loan for Kenyan energy expansion

Posted on : Friday , 23rd January 2015

Multilateral development finance institution, the Africa Finance Corporation (AFC), would provide a $25-million loan, as part of a $150-million senior unsecured syndicated loan facility, to the Kenya Power and Lighting Company Limited (KPLC) to fund the rehabilitation and expansion of Kenya’s power transmission and distribution network.

In line with the Kenyan government’s power sector policy, KPLC, which owned and operated most of the electricity transmission and distribution network in the country, aimed to increase the country’s energy capacity from the current 2 000 MW to 5 000 MW by 2020.

The group was 50.1% government-owned, with various private investors and the Kenyan public holding the balance of equity.