Reports doing rounds on social media on the 11th of September revealed that Ndindi Nyoro had tripled his shares in the Kenya Power Lighting Company making him the largest individual shareholder.

On Monday the 12th the lawmaker for the Kiharu constituency decided to school Kenyans on some factors that led him to take the bold investor moves.

First of all, he noted that the report contained regulatory filings up to 30th June 2022. He stated that the information is usually made public and constitutes financial statements.

He also noted in his statement that some shareholders prefer to use nominee accounts as opposed to individual names to conceal their identity. Ndindi Nyoro noted that he preferred to use his official name.

He also explained that the investment was not a one-off investment but a periodical. He explained that the huge investment has been accumulated over a period of time.

He started stock broking during his freshman year at Kenyatta University.

He also noted in his statement that the government still remains the major stakeholder owning 50.1% of the government parastatal. That being the case all directors are therefore appointed by the Government of Kenya. Therefore as a retail investor, Ndindi Nyoro maintains that his small stake is passive and is a silent retailer who makes zero decisions.

Ndindi Nyoro’s decision to triple his shareholding was informed by:

•Fundamentals and guts just like in any other business.

•The stock is low priced currently trading below two shillings.

•Ndindi Nyoro stated the market valuation of the parastatal is undervalued with only 1% of its total value being taken into account. The revenue of KPLC is valued at 150 Billion and it has properties worth 325 Billion. He argued that the market values the company at only 1% of his market base which constitutes 3 Billion.

•Kiharu MP also added that the parastatal had immense potential for growth with the correct administration. He alluded to investors who reaped maximally when Mwai Kibaki took over a crumbling economy and resuscitated it.

Another major shareholder at the KPLC is Mama Ngina Kenyatta with 0.11% shareholding.

He added that any Kenyan can purchase stocks as long as they have a CDS account.