[Source: Business Daily, by Edwin Okoth]
Electricity distributor Kenya Power has received a debt relief from 14 foreign-based lenders as it races to cut costs and protect itself from dipping into losses.
Kenya Power Managing Director Bernard Ngugi said the utility company has secured a 12- month moratorium on the foreign loans and is in talks with local banks to reschedule its multibillion-shilling debt.
The firm is seeking to make savings from the Sh6.8 billion it paid banks and other lenders as…
