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Monday, September 12, 2022 – Kiharu Member Parliament, Ndindi Nyoro, has cleared the air on the allegations that he is the biggest individual shareholder in Kenya Power and Lighting Company (KPLC).

On Sunday, one of the local blogs alleged that the Kiharu legislator has tripled his shares at the biggest power firm in East Africa and emerged as the biggest individual shareholder in terms of shares portfolio.

But in a Facebook post on Monday, Nyoro admitted that he is the biggest individual shareholder in KPLC because he doesn’t ‘conceal names’ like other investors.

Nyoro also said he is the biggest individual shareholder because he started purchasing KPLC shares when he was a first-year student at Kenyatta University.

Here is what Ndindi Nyoro wrote on his Facebook page on Monday.

INVESTMENTS: Some information was going around yesterday in regard to the list of Kenya Power shareholders. A few things to note.

1. The list was regulatory filings up to June 30th, 2022. This is public information, part of which is usually included in the financial statements.

2. Some shareholders prefer to use their actual names while investing, others use “nominee accounts” to hide identities. We are in the earlier category since we don’t see the need to use the latter one. Majority of the top shareholders have chosen “nominee accounts”. Some are individuals, others are pension funds, etc.

3. The investment has been accumulated over time. Several years back. We started off in stockbroking from 1st year in campus (KU). Thereafter running a firm in the sector. And later a Private Equity (PE) firm. This specific counter is probably for the last 3 or 4 years.

 The Kenyan DAILY POST.

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