Thursday, June 8, 2023

Ndindi Nyoro is now Kenya Power’s largest individual shareholder

Kiharu Member of Parliament Ndindi Nyoro has become the largest individual shareholder at Kenya Power.

This is after the MP tripled his stake to over 22 million shares. According to the latest disclosure from the Nairobi Securities Exchange, Ndindi held 27,291,400 Kenya Power shares as at June 2022.

“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,” said Nyoro.

His view of Kenya Power is that the company is largely undervalued. “The company is valued at less than one per cent of its asset value,” he said. Ndindi’s shares as at June were valued at around Sh. 43.7 million.

This is not Nyoro’s first money move at the Nairobi Securities Exchange. He made a name for himself as an investor at the NSE before joining politics. Nyoro founded Investax, an investment firm that was licensed to trade at the NSE.

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“I got into buying shares after operating a hotel in the university and doing some business of selling stuff in secondary school to raise school fees and make ends meet,” he said.

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