Kiharu Member of Parliament Ndindi Nyoro, is a wealthy politician and businessman who has built his businesses from scratch.
He is one of the largest individual shareholders at the Kenya Power and Lighting Company (KPLC).
Speaking during a meeting with African American investors on July 3, the legislators revealed that he had made a profit of Sh244 million over the 4 years since he began investing at Kenya Power.
According to him, he averagely invested Sh1.89 per share within the period, bringing his total investment to Sh56 million.
“I bought those shares myself, not in 2023, but I have been buying for the last 4 years. My average buying price is about Sh1.89. I was looking at my CDS account, where I have spent around Sh56 million,” he stated.
The price of a share at Kenya Power grew from Sh1.32 in December 2023 to Sh11 in June 2025 on the back of positive financial performance and a stable Kenyan shilling against the United States (US) dollar.
This made Nyoro’s investment value rise from Sh56 million to over Sh300 million.
Kenya Power reported a net profit of Sh30.08 billion in the 2023/2024 financial year, a turnaround from a net loss of Sh3.19 billion for the year ended June 2023.
“I kept telling my friends and family to buy the shares. Because even if you buy, what are you losing? I bought 30 million shares. As we talk today, the value of those shares only is close to Sh300 million,” he added.
Ndindi Nyoro: Building houses, apartments is not a good investment
According to regulatory filings, Nyoro held 30 million Kenya Power shares as at the end of December 2024. These shares were equivalent to a stake ownership of 1.54 percent of the company.
This stake was an improvement from the 20.08 million shares that the investor held as at the end of June 2024. In 2023, Nyoro had become the largest individual shareholder at Kenya Power with 32.5 million shares.
“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 capitalism which can be used to assist more homes,” Ndindi had said at the time, adding that Kenya Power was largely undervalued. “The company is valued at less than one per cent of its asset value,” he said.
According to the legislator, the stock market offers the best opportunities for Kenyan investors, given that the industry is simpler to comprehend and monitor than other investments like Bitcoin.
“Africa offers various opportunities in Most segments. Of note are the opportunities that currently exist in the Nairobi Securities Exchange, Nigeria (NGX), among others, for stocks that are evidently undervalued. The Private Equity and Venture Capital segments also look attractive across the continent,” he noted.
