This archive report was first published on 3 October 2019.
On October 3, 2019, the National Assembly's Public Investment Committee (PIC) grilled Kenya Power's acting Chief Executive Hudson Andambi over the company's budgetary provision for Sh4.3 billion in bad debt.
The committee expressed concern that making such provisions was tantamount to admitting that Kenya Power would lose the case, which has been dragging on for nine years.
The power firm was ordered by an arbitration tribunal in December 2010 to pay an oil dealer Sh4.3 billion for breach of an agreement, but the determination of the case is still pending.
Andambi explained that the company was not opposed to settling the matter out-of-court and that setting the provision for a bad debt was an accounting practice.
