East African Cables, a local electrical cables and conductor manufacturer, has lauded the growing support it is receiving from Kenya Power.
This support comes as part of Kenya Power’s strategy to promote local manufacturers, aligning with the government’s ambitious Bottom-Up Economic Transformation Agenda (BeTA).
East African Cables’ Chief Executive Officer, Mr. Paul Muigai, lauded the efforts of Kenya Power, highlighting the positive impact on the local economy.
Under the BeTA initiative, Kenya Power has been increasing its procurement opportunities for local manufacturers. This strategic shift signifies a broader commitment to driving economic growth and industrialization within the country.
Mr Muigai commended Kenya Power’s proactive approach, emphasizing the importance of sustained orders from local manufacturers in advancing national industrialization and economic transformation efforts.
East African Cables has confirmed the dispatch of the first batch of electrical cables and conductors worth Kes232 million to Kenya Power.
This milestone represents a tangible result of Kenya Power’s commitment to supporting local manufacturers. Mr Muigai acknowledged this support, expressing his gratitude on behalf of East African Cables.
He stated, “As we flag off the first batch, East African Cables celebrates the continued support by Kenya Power to local manufacturers, which is a boost for the national industrialization and economic transformation efforts.”
East African Cables is committed to fulfilling the order placed by Kenya Power, which will be delivered in several batches throughout the year.
Mr Muigai highligted the company’s dedication to producing quality cables and conductors for high, medium, and low voltage power transmission. The order placed by Kenya Power, specifically for medium voltage cables, will be delivered under a flexible framework supply model.
In its latest half-year results, East African Cables Kenya Plc showcased a remarkable growth trajectory. This growth has been sustained by increasing demand from both retail and wholesale sales, particularly for building and construction projects.
The company reported 24 percent growth in gross profit, attributed to increased sales volumes in the retail sector, continued market development and communication efforts, and improved operating efficiencies.
Despite facing macroeconomic challenges, including the accelerated depreciation of the Kenyan Shilling against the US Dollar and constrained working capital, East African Cables maintained a disciplined approach to containing operating costs. This approach leveraged continuous improvement practices that have become a part of the company’s culture.
Kenya Power’s unwavering support for local electrical cables and conductor manufacturers like East African Cables is a testament to the nation’s commitment to fostering economic growth and industrialization.
This partnership not only strengthens the reliability of electrical power distribution but also contributes significantly to Kenya’s economic transformation efforts.
East African Cables continues to fulfill its orders, it stands as a shining example of how collaboration between government entities and local manufacturers can drive sustainable development and prosperity.