Kiharu Member of Parliament, Ndindi Nyoro tripled his shares from 9,116,800 shares to 27,291,400 shares in a span of one year to become the current largest individual shareholder at Kenya Power and Lighting Company (KPLC).
According to the latest data from Capital Markets Authority (CMA), Nyoro’s stake in the company which earlier stood at the12th position rose to third by the end of June 2022 with the National Treasury being the largest shareholder with a total of 978,492,034 followed by Standard Chartered Bank Residual nominees who have a total stake worth 32,518,589.
While Nairobi Stock Exchange shows that a share of Kenya Power retails at Ksh1.60, the investor noted that his interest in the state owned power company was due to 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.”
Among other ventures Nyoro owns shares of are Afrisec Telecoms, Investax Capital, and Telesec Africa, this ranking the Member of Parliament in his second term among the richest politicians in Kenya.