NAIROBI, Kenya, April 13 – Kenya Power has been ranked the sixth most valuable brand in Kenya by Brand Finance, a London-based brand valuation and strategy consultancy, shows.
The utility company dominates the country’s energy sector with a valuation of about Sh17.56 billion ($132 million).
The firm managed to earn a A+ brand rating whose measurement is based on brand perceptions among different stakeholder groups, where customers are the most important as well as business and financial performance.
“The ranking of the Brand Finance report is a reflection of the effort and commitment of our staff to grow the brand,” Kenya Power acting Managing Director Geoffrey Muli said.
“As an organization that transforms the lives of millions of Kenyans, our priority has been to entrench innovation and sustainability in our operations in order to enhance customer experience and grow shareholder value,” he added.
Among the innovations that the company has recently introduced are self-service platforms and the MyPower App.
The platforms allow customers to read their meters for accurate billing, reporting incidents, accessing tokens, and checking the authenticity of persons presenting themselves as Kenya Power staff.
During the last financial year ended June 2022, the company recorded a 17 percent reduction in the number of customers visiting the company’s banking halls as a result of customer reliance on the self-service platforms.
During the same period, the adoption of the self-meter reading service increased from an average of 49,000 to 131,000. per month.
“Kenya’s top brands have demonstrated some considerable resilience over the past year, clearly shown by the brand value growth achieved by all the top most valuable brands in the ranking,” Brand Finance East Africa Regional Director Walter Serem said.
“This is all the more impressive considering the difficult operating conditions that Kenyan brands have faced over the past few years.”
