This archive report was first published on 30 October 2019.
On October 30, 2019, Kenya Power announced a delay in the publication of its audited financial statements for the year ended June 30, 2019, citing the need for the appointment of a new auditor-general.
According to the company, the results will be published on or before November 30, 2019, upon certification by the auditor-general, who is expected to be appointed towards the end of November 2019.
Kenya Power is required to secure the Auditor General's approval for reporting the audited financial results, as per regulation 63(7) of the Capital Markets Act.
The Capital Markets Authority mandates companies to publish their results within three months after the close of the review period, which in this case was October 31, 2019.
Kenya Power is not the only state-controlled company to experience a delay in publishing its financial results; KenGen and East African Portland Cement have also cited similar reasons for their delays.
