Business

Geregu Power sits on cash pile

Geregu Power Plc, the first electricity company to be listed on the Nigerian Exchange Group (NGX) has more cash than they know how to spend it, and of course, a strong balance sheet provides them the firepower to ward off any macroeconomic headwinds.


Data sourced from the Nigerian Exchange Group showed the firm recorded a 366 percent surge in its cash reserves during the first half of 2023.


This surge in cash reserves for Geregu Power resulted from an increase in cash from operating activities and also in profit in cash from investing activities after a loss was recorded in the same period of 2022.