November 29, 2019 / 8:57 AM / 15 days ago

UPDATE 1-Kenya Power, KenGen delay annual results on auditor-general appointment

(Adds details on KenGen co’s delay in FY results)

Nov 29 (Reuters) - Kenya Power and Lighting and Kenya Electricity Generating Co (KenGen) on Friday said there would be a further delay in their full-year results as the appointment of a new auditor general will not be finalised by end-November.

Both the state-controlled companies must secure approval for reporting their corporate results from the government’s new auditor general, who will be appointed as the previous occupant retired in August.

The two companies, Kenya’s biggest electricity producer and power distributor, have also postponed their annual general meetings that were scheduled to be held at the end of the year.

The appointment of the auditor general was earlier expected to be completed by end-November.

KenGen said in a statement it has sought the approval of the Capital Markets Authority (CMA) for a further extension to publish its full-year results upon the appointment of an auditor general.

Reporting by Tanishaa Nadkar and Shanima A in Bengaluru, Editing by Sherry Jacob-Phillips

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