Kenya Electricity Generating Company PLC (KENGEN) has become the first state-owned enterprise to restructure its board under the Government Owned Enterprises Act 2025, reducing its board from 14 to 9 directors.
- •The restructuring has triggered the departure of three independent non-executive directors: Board Chairman Hon. Alfred Agoi Masadia, Hon. Rehema Hassan, and CPA. Bernard Ngugi.
- •Under the new Articles, six of the nine board seats are reserved for independent directors selected through a competitive, ring-fenced process.
- •KenGen is the first listed GOE to implement the changes ahead of Kenya Power, Kenya Re, and others at various stages of compliance.
The changes align KenGen with the Government Owned Enterprises Act 2025, signed by President Ruto on 21st November 2025.
The law mandates 9-member boards across all GOEs, caps director tenure at three years renewable once, and requires independent directors to be appointed through a structured process run by an independent search panel. The reconstituted board must elect its own chairperson from among those independent directors, ending the prior arrangement under which the position was effectively a government appointment.
Shareholders also approved a Class A and Class B share structure, ring-fencing minority investor voting power on independent director elections. The government holds 70% of KenGen; the general public holds approximately 27.4%, or 1.806 billion shares.
The company supplies more than 60% of Kenya's electricity and is pursuing expansion across geothermal, hydro, nuclear, solar and wind under its G2G 2034 strategy.
