Kenya Power and Lighting Company (KPLC), a monopoly that rakes in more than Sh130 billion every year in revenues, is broke! the entity has been milked dry and reserves are dangerously closer to running empty.
The technically insolvent power distributor is on the spot after its current liabilities, debts, and that it must have to pay its creditors in the next 12 months has by far outgrown its current assets.
Apart from the known debts, KPLC has also been walking all over creatives and small SMEs without listing the debt. The corporate has been listing jobs that do not get paid once done. One such case is of Kabutha Kago.
The award-winning photographer and seasoned designer has taken to Twitter to rant over thousands in unpaid dues as a last resort after Protel Studios and KPLC ignored his pleas for pay.
Apparently, the creatives official efforts to recover over Sh405,000 owed using regular dignified means has hit a wall for more than a year, the photographer who took up the listed job to take brand photographs for “KPLC Jifanyie” and “KPLC Elewa Bill” campaign thinking he had hit the jackpot, woe unto him.
The creative then decided to go public releasing mock images of the campaign he had shot for KPLC.
Kabutha says after going public in March, KPLC offered him a deal to take up another contract and Forfeit the money he had already earned. Kabutha is just but one of the small businesses that has fallen victim to the scheme at the power company
KPLC’s latest financial statements for the year ended June 2019 released this week, show that it recorded a 92 percent profit drop compared to 2018. The struggling company has been hiding these debts while Cartels milk it dry. reforms are needed!