KenGen on Monday confirmed the renewal of Chief Executive Rebecca Miano’s term following the expiry of her three-year contract putting her at the helm of the company that reported Ksh7.88 billion in profits in its last audited results for the full financial year ended June 30, 2019.
In a notice, the board confirmed the re-appointment of Ms. Miano for another three years citing the positive impact the chief executive has had on the financial heath of the company as well as her leadership in steering the company towards the right direction.
The board cited growth in assets, impressive fianancial results and the maintanence of adequate cash flow as her major scoring points hence the re-appointment.
“This enabled KenGen to pay dividends of Ksh2.6 billion to shareholders for the financial year 2018, followed by the successful final redemption of the listed KenGen Infrastructure Bond in October 2019 that confirmed to the investor world that KenGen is a credible company to invest in whether through equity or debt financing,” the board said in the statement.
During her first term, Ms Miano spearheaded the company’s diversification strategy that landed KenGen two multi-million shilling geothermal drilling and consultancy contracts in Ethiopia.
Ms Miano is also credited with proppeling KenGen into the 7th largest Geothermal energy producer in the world and first in the continent.
“Geothermal energy generation as a key green energy source has greatly contributed towards building the country’s green energy capacity with more than 80% of the electricity generated by KenGen resulting from renewable sources- geothermal, hydro and wind,” Joshua Choge the KenGen Board Chairperson said in the statement.
Personal Growth
In July, Ms Miano joined World Bank Group’s Advisory Council on Gender and Development.
The Advisory Council is composed of representatives of government ministries, the private sector, academia and non-profit institutions.
Members of the Advisory Council play a critical role of looking into progress and constraints to gender equality globally and providing feedback and guidance of the bank’s work on gender equality and women’s voice.
Since its inception in 2011, the Council has been instrumental in helping the bank to strengthen its contributions towards closing gaps between men and women.
Leave a comment