Kenya Electricity Generating Company PLC (KenGen) has become the first state-owned enterprise to reorganise its board under the Government Owned Enterprises Act 2025, shrinking the number of directors from 14 to nine.
The restructuring has led to the exit of three independent non-executive directors: board chairman Hon. Alfred Agoi Masadia, Hon. Rehema Hassan, and CPA Bernard Ngugi.
Under the revised Articles of Association, six of the nine seats are reserved for independent directors chosen through a competitive and ring-fenced recruitment process.
KenGen is the first listed government-owned enterprise to implement the reforms, moving ahead of firms such as Kenya Power and Kenya Re, which remain at different stages of compliance.
The overhaul aligns the company with the Government Owned Enterprises Act 2025, signed into law by President William Ruto on 21 November 2025.
The legislation requires all government-owned enterprises to operate with nine-member boards, limits director terms to three years renewable once, and introduces a structured selection process for independent directors overseen by an independent search panel. The reconstituted board will now elect its own chairperson from among the independent directors, replacing the earlier system where the role was effectively a government appointment.
Also Read: Azimio Ousts Junet Names Caroli Omondi As New PG Leader
Shareholders also approved a dual Class A and Class B share structure designed to safeguard minority investor influence during the election of independent directors. The Kenyan government holds a 70 per cent stake in KenGen, while the public owns roughly 27.4 per cent, equivalent to about 1.806 billion shares.
KenGen currently generates more than 60 per cent of the country’s electricity and is pushing ahead with expansion plans across geothermal, hydro, nuclear, solar and wind power as part of its G2G 2034 strategy.
