Kenya Power is the sixth most valuable brand, and the leading utility in Kenya, according to a report by Brand Finance, a London-based brand valuation and strategy consultancy.
Based on the ranking, Kenya Power emerged the most valuable brand in the energy sector, and dominated 19 other brands from the country’s public and private sectors, delivering a brand value of USD 132 million (approximately Ksh17.56 billion).
The company managed to earn an A+ brand rating in the ranking that measured brand perceptions among different stakeholder groups, where customers are the most important, as well as business and financial performance.
Kenya Power’s acting Managing Director Eng. Geoffrey Muli attributed the Company’s impressive performance to the collective effort that employees have put in scaling up the brand value, through various initiatives such as greening the grid, enabling electro-mobility, and driving sustainability.
“The ranking of the Brand Finance report is a reflection of the effort and commitment of our staff to grow the brand. As an organization that transforms the lives of millions of Kenyans, our priority has been to entrench innovation and sustainability in our operations in order to enhance customer experience and grow shareholder value,” said Eng. Muli.
Among innovations that the Company has undertaken recently is the introduction of self-service platforms *977# and MyPower App. These platforms are meant to empower customers to proactively engage with the Company, by reading their meters for accurate billing, reporting incidences, accessing tokens, and checking the authenticity of persons presenting themselves as Kenya Power staff.
During the last financial year ended June 2022, the Company recorded a 17 % reduction in the number of customers visiting the Company’s banking halls as a result of customer reliance on the self-service platforms.
During the same period, the adoption of the self-meter reading service increased from an average of 49,000 to 131,000. per month.
“Kenya’s top brands have demonstrated some considerable resilience over the past year, clearly shown by the brand value growth achieved by all the top most valuable brands in the ranking. This is all the more impressive considering the difficult operating conditions that Kenyan brands have faced over the past few years.” Said Walter Serem, Brand Finance’s Regional Director, East Africa.