Kenya: Electricity prices rise for second month in a row

Electricity prices in Kenya have risen for the second consecutive month, a development attributed to high oil prices and a weak shilling. The Energy and Petroleum Regulatory Authority decided to increase the fuel and foreign exchange components of the power bill, leading to heightened electricity costs for consumers across the nation. This surge in energy prices has been met with concern and apprehension from the Kenyan populace, especially amidst the backdrop of economic challenges that have been plaguing the country. To shed light on the situation, Apollo Mboya, a notable advocate at Apollo & Company Advocates, joined CNBC Africa for an insightful discussion. In the interview, Mboya highlighted the impact of the rising electricity prices and the implications they carry for both consumers and the overall economy. He emphasized the critical nature of the energy mix in Kenya and how various factors such as drought and fuel dependency play a role in shaping the current scenario. With a focus on sustainable solutions and governmental interventions, the conversation delved into potential strategies to mitigate the effects of escalating electricity costs on the populace. The discussion also touched upon the recent agreements between Kenya and Ethiopia in the energy sector as part of long-term strategies to address the country's electricity challenges. As Kenya navigates through these tumultuous times, the path forward remains uncertain, with a need for concerted efforts to alleviate the burden on consumers and propel the economy towards stability.