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KenGen’s minority shareholders have elected two independent directors in the company’s first minority-only board vote, and shareholders approved revised Articles of Association with 99.86% support at the 74th annual general meeting on October 29, 2026, The Kenyan Wall Street reported.
Who won the KenGen board seats
| Candidate | Votes | Result |
|---|---|---|
| Dr Jemmimah Nyambura | 198.94m | Elected |
| Kennedy Kubasu | 195.75m | Elected |
| Edward Owino Odundo | 25.03m | Third |
Ten candidates stood. The National Treasury separately appointed five directors: William Rahedi, Frank Konuche, Rebecca Kudate, John Mosonik and Abubakar Ketemon Lewano.
How the new KenGen board works
- The board is capped at nine members, including six independent directors.
- Shareholders are split into Class A (minority investors) and Class B (the National Treasury, which owns about 70%).
- Minority shareholders now have protected board representation, while the government keeps majority ownership.
The special resolution got 4.85 billion votes in favour against 6.57 million against. It replaces KenGen’s old memorandum and articles with documents aligned to the Companies Act, 2015 and the Government Owned Enterprises Act, 2025. Shareholders first approved the restructuring at an extraordinary meeting on February 12, 2026. Similar reforms affect other listed state-controlled firms, including Kenya Reinsurance.
Why it matters for NSE investors
Minority investors in state-controlled listed companies have long complained of having little say over boards dominated by government appointees. Guaranteed seats elected only by minorities give retail and institutional investors a direct voice on strategy, dividends and spending. With KenGen investing heavily in new capacity, that oversight matters; see our report on KenGen’s 2026 results and KSh15.5bn capex.
Dividend and leadership
Shareholders approved a final dividend of KSh0.75 per share, about KSh4.95 billion in total, payable on or about January 21, 2027. Our KenGen dividend history lists past payouts. Ronoh Kibet Charles takes over as CEO on February 1, 2027; read about KenGen’s next CEO. All seven resolutions at the AGM passed.
FAQ
Who are KenGen’s new minority directors?
Dr Jemmimah Nyambura and Kennedy Kubasu.
How many directors does KenGen’s board have?
Up to nine, including six independent directors.
How much of KenGen does the government own?
About 70%, held by the National Treasury as Class B shares.
Updated October 31, 2026.
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