Kenya Power faces penalty of Sh1.8 billion for failing to submit uncollected dividends to UFAA

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Kenya Power faces a Sh1.8 billion penalty for failing to submit uncollected dividends and other financial assets amounting to Sh1.7 billion in the year ended June, Auditor-General Edward Ouko has warned.

Unclaimed dividends, customer refunds, un-identified receipts, wayleaves compensation and stale cheques have been piling up at the electricity distributor which has failed to report and hand them over to the Unclaimed Financial Assets Authority (Ufaa).

These financial claims had risen from Sh1.6 billion a year earlier. Unclaimed dividends alone stand at more than Sh300 million.

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