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While Eskom struggles to keep the lights on in SA, consider this power play in Kenya…

by , 24 April 2015

While South Africa may be Africa's second largest economy, it's struggling to stimulate growth. But there are other countries on the continent showing strong economic growth, such as Kenya.

Kenya is Africa's fifth-largest economy. And to ensure its electricity supplies grow with the country's needs, Kenya's sole electricity provider is worth a look at…

Key facts about Kenya

Over the past three years, the economy in Kenya has grown 4.8% on average each year (based on GDP). Its current account deficit is 8.1% of GDP.

Lower oil prices since the middle of last year have benefitted the country. Oil makes up around a quarter of its imports. Lower oil prices mean the World Bank has revised Kenya’s GDP growth forecast upwards to 6% for this year.

The World Bank also believes the country’s current account deficit will fall to 4.7% over the next couple of years.

A possible investment opportunity in Kenya

Hedi Ben Mlouka, the CEO of Duet MENA and CIO of Duet EM Frontier Funds, told Money Week that he expects Kenya’s sole electricity distributor to do well over the coming years.

With a strong correlation between a country’s growing economy and its need for power, Kenya Power & Lighting Company [NAI:KPLL] could present an opportunity to profit from this.

The Kenyan government is committed to connect 70% of its growing population to the electricity grid. It’s currently standing at 32%. And it’s investing in an additional 5,000MW to help the needs of major infrastructure projects.

With these factors in mind, the future is looking good for Kenya Power & Lighting Company. Mlouka predicts sustainable growth for this power utility over the coming years.

If you want to invest in stocks on the Nairobi Stock Exchange or stocks in other African countries, you may be able to through you current stock broker.

So there you have it, a power play in Kenya to consider.

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While Eskom struggles to keep the lights on in SA, consider this power play in Kenya…
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