Kenya Power Risks Sh1.7 Billion Fine Over Unclaimed Assets

Kenya Power risks a Sh1.765 billion penalty for not surrendering to the State unclaimed assets that include dividends and stale cheques as required by the law.

Auditor-General Nancy Gathungu disclosed in the latest audit report that the utility firm was at the end of June last year still holding Sh922 million in its books against the requirements of Unclaimed Financial Assets Act, 2011.

Ms Gathungu said the unclaimed assets ought to have been surrendered to the Unclaimed Financial Assets Authority…

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