3 April 2013 – Kenya Power has acquired a loan of some US$60 million rom Rand Merchant Bank to finance new electricity transmission lines and construction of additional substations in the country. The loan provides financial support in efforts to complete projects aimed at improving quality of power supply to customers and stabilising voltages to cope with additional demand.
Kenya Power is also seeking US$340 million from China’s Exim Bank to finance investment in underground cables to reduce transmission down-times. Rand Merchant Bank now becomes the third largest lender to the company after Equity Bank, which loaned it US$65 million. Others who have loaned funds are the World Bank and the Kenyan government with a combined advancement of US$55 billion, the European Investment Bank (US$36 billion) and Standard Chartered (US$75 million).