Kenya Power and Wema Bank report increased annual profits

Kenya Power has reported an annual profit after tax of KSh24.99 billion ($193.2 million) for fiscal 2025-2026, a 2.13% increase over the previous year. The company saw electricity revenue rise to KSh238.24 billion, driven by higher consumption and the addition of over 411,000 customers. Efficiency in distribution and transmission improved to 81.42%, while finance costs fell by 34.68% due to lower outstanding loan balances. The board has recommended a total annual dividend of KSh1.50 per share.

Wema Bank Plc reported a significant increase in profitability for the half-year ended June 30, 2026. Profit before tax reached N154.5 billion, a 53.65% increase from the previous year, while profit after tax rose 157% to N131.3 billion. This performance suggests the bank is on track to exceed its previous annual profit records. The growth was supported by interest income, improved credit performance, and balance sheet development following capital raising strategies aligned with Central Bank of Nigeria requirements.