Ndindi Nyoro: Kiharu MP Becomes Largest Individual Shareholder at Kenya Power – Tuko.co.ke
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Kiharu MP Ndindi Nyoro is now the third largest shareholder at Kenya Power and Lighting Company.
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 comes in third after the government's 978,492,034 shares.
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The MP's shares fall short of 5,227,189 from the second place Standard Chartered Residual whose shares are 32,518,589.
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The utility firm's shares retail at KSh 1.60 per share on the Nairobi Securities Exchange (NSE).
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.
Nyoro is said to own 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, the MP invested KSh 3 million to acquire a 50% stake in Investax Capital.
The lawmaker is one of the proponents of the bottom-up economic campaign that saw president-elect William Ruto emerge victorious in the August 2022 General Electron.
Nyoro branded himself as a hustler who rose from a humble background to become famous in business and now politics.
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In related news, TUKO.co.ke reported that Kenya Power and Lighting Company (KPLC) customers increased to 8.91 million subscribers in June 2022.
Kenya National Bureau of Statistics (KNBS) report indicated that the firm's customer base grew from 8.27 million reported in June 2021.
The growth is attributed to KPLC's efforts to revamp its connections and aggressively boost its revenue.
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Source: TUKO.co.ke
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