- Kiharu MP Ndindi Nyoro's overall stake at the Kenya Power and Lighting Company is valued at KSh 48.75 million
- The National Assembly's Budget and Appropriations Committee chairman increased his shares at the utility firm to 32.5 million representing a 1.67% stake
- Besides KPLC, the UDA lawmaker owns shares in other stock business ventures, including Afrisec Telcoms and Investax Capital
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Kiharu Member of Parliament (MP) Ndindi Nyoro has tightened his grip as Kenya Power and Lighting Company's (KPLC) single largest individual shareholder after buying additional shares worth KSh 5.2 million.
The National Assembly's Budget and Appropriations Committee chairman increased his shares at the utility firm to 32.5 million representing a 1.67% stake.
His overall stake is now valued at KSh 48.75 million, according to Business Daily.
On Thursday, August 3, Kenya Power shares at the Nairobi Securities Exchange (NSE) traded at KSh 1.52 per unit compared to KSh 1.45 in August 2022.
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Ndindi Nyoro's shares at KPLC
In the first half of 2022, Nyoro tripled his shares at KPLC.
The lawmaker's shares tripled to 27,291,400 in June 2022, from 9,116,800 shares reported at the same time in 2021.
According to data from the Capital Markets Authority (CMA), Nyoro's stake came in third after the government's 978.5 million.
In 2021, the company's individual shareholding stood at 49.9%, as the state-controlled 50.1% of the total stake.
Another individual shareholder at the utility company is Mama Ngina Kenyatta, who boasts a 0.11% ownership as of 2021.
Ndindi Nyoro's businesses
Besides KPLC, the vocal MP owns shares in other stock business ventures, including Afrisec Telcoms and Investax Capital.
He boasts over KSh 50 million shares in Afrisec Telcoms, and in May 2022, he invested KSh 3 million to acquire a 50% stake in Investax Capital.
The United Democratic Alliance (UDA) lawmaker said he built before being elected into the National Assembly.
His journey to entrepreneurship began in 1997 when he was still in primary school.
At a young age, he established a kiosk outside their home but this did not augur well with his father, who asked him to focus on his education.
"My dad bought the whole stock and ordered me to demolish it and instead concentrate on my studies," Daily Nation quoted him.
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