The Kenya Electricity Generating Company shares climbed to a record
high of Sh10.45 on Friday after the utility welcomed Maxim Agri & Samakgro
as the fifth investor at its Green Energy Park.
This signals growing investor confidence in the company's green
industrialisation strategy.
The stock has gained 13.8 per cent since the beginning of the year,
rising from Sh9.18, making it the 30th best-performing counter on the Nairobi Securities
Exchange in 2026.
Over the past four weeks alone,
the stock has returned about 15 per cent, ranking among the exchange's
top-performing shares.
The rally has also been supported by KenGen's strong financial
performance. For the year ended June 2025, the company posted a 40 per cent
jump in net profit to about Sh8.8 billion, driven by higher electricity sales,
geothermal generation and foreign exchange gains.
Investors were rewarded with a final dividend of Sh0.40 per share,
bringing the total payout to Sh0.70 per share, one of the company's highest
returns in recent years.
The latest investment at the Green Energy Park will see Maxim Agri &
Samakgro use 3MW of renewable energy to establish an 8-metric-ton-per-hour fish
feed manufacturing plant valued at approximately Sh510 million.
The facility is expected to boost local fish feed production and support
Kenya's expanding aquaculture industry.
KenGen managing director Peter Njenga said
Maxim Agri & Samakgro is the second investor to join the park this year,
bringing the total number of investors to five.
"This signifies the growing appeal of the KenGen Green Energy Park
as a hub for industries seeking to harness affordable and sustainable green
energy to support their expansion," he said.
He added that the investment reinforces Kenya's push towards green
industrialisation and demonstrates increasing demand for reliable and
affordable renewable energy for manufacturing.
Maxim Agri director Joachim Westerveld expressed confidence in the
partnership, saying it will support the company's expansion plans while
promoting sustainable production.
Other investors already operating at the park include the Konza
Technopolis Development Authority, Eco-cloud, Kaishan Group, Aquilastar
Corporate Investment Company and Synergetic Development Group.
Meanwhile, the Central Bank of Kenya reported that the country's foreign
exchange reserves remained strong at Sh1.83 trillion, equivalent to six months
of import cover as of July 16, comfortably above the statutory minimum of four
months.
Diaspora remittances fell to Sh48.6 billion in June from Sh51.0 billion
in May, while annual inflows eased 2.4 per cent to Sh641.5 billion.
Government securities continued attracting strong demand.
The latest Treasury bill auction received bids worth Sh44 billion
against an offer of Sh28 billion, reflecting a 157.3 per cent subscription,
while the NSE's main share indices posted weekly gains despite lower trading
activity.
