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Ndindi Nyoro triples his shares in KPLC to become the largest individual shareholder

Ndindi Nyoro making money moves

Kiharu MP Ndindi Nyoro [Courtesy]

Kiharu Member of Parliament, Ndindi Nyoro has tripled his shares at the Kenya Power and Lighting Company (KPLC), making him the largest individual shareholder.

A shrewd entrepreneur and investor, the lawmaker aggressively acquired KPLC shares between June 2021 and June 2022, tripling his shareholder.

The latest filings by the Capital Markets Authority (CMA) indicate that his shares jumped from 9,116,800 shares in June 2021 to 27,291,400 shares a year later.

This saw him move from the 12th position to the third largest shareholder, only coming behind the government and bank-owned shares.

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The National Treasury is the largest shareholder, with 978,492,034 shares by the end of June 2022.

Coming in second is Standard Chartered Residual nominees who own the equivalent of 32,518,589 shares.

Data from the Nairobi Stock Exchange indicate that a share of Kenya Power retails at Ksh1.60.

Explaining his decision to invest in KPLC, the lawmaker sated that he was attracted by its immense revenues and assets.

"The company is valued at less than 1 per cent of its asset value. I am buying KPLC shares because I know we can fix issues of electricity when allowed to make decisions. It has a lot of sleeping capital which can be used to assist more homes." Nyoro explained.

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Nyoro, who is a close confidant of the president-elect, William Ruto, prides himself as a hustler and a champion of ordinary Kenyans.

Business empire

His empire cuts across several sectors such as construction, civil works, stock brokerage, drilling, communication and water engineering, making him one of the wealthiest politicians in the country.

Before venturing into politics, the Kiharu lawmaker established several successful businesses and worked part time for Ngenye Kariuki and company stock brokers.

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After learning the ropes, Nyoro formed, Stockbridge Stockbrokers and started Afrisec Telecoms, an internet service provider.

While serving his first term as MP in 2016, he co-founded Investax capital, a stock brokerage firm that is one of the leading stock broker agencies in the country.

Afrisec Telecoms, Investax Capital, and Telesec Africa are valued at valued at Ksh 300 million.

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