Ndindi Nyoro was born on 12th December 1985 in Gathukeini, Murang’a county. His mother was a peasant farmer, and his father was a small-time carpenter in the Kiandutu slums of Thika. He is the youngest of four children, with three older sisters.
Ndindi Nyoro is the current MP for Kiharu constituency in Murang’a County, serving his second term. He plunged into national politics in 2017 when he vied for the parliamentary seat on President Uhuru Kenyatta’s Jubilee ticket. He emerged victorious after garnering 60,881 votes against his closest rival’s 35,181.
His win, at only 32 years of age and being the son of a peasant, was seen as a major achievement as the constituency was always represented by well-connected politicians from rich and influential families.
In 2022 Nyoro was re-elected with a landslide victory in the general election – this time on the UDA ticket – after falling out with Uhuru.
Education
Nyoro attended Gathukeini Primary School. At the age of 12, he opened a kiosk in his village to support himself while attending school. However, his father, prioritizing education, bought out the stock and had him focus on his studies.
He initially secured a place at Kiaguthu Boys Secondary School but couldn’t join due to high fees. Instead, he attended Kiambugi Boys Secondary School, where he repaired shoes for classmates and sold second-hand clothes during holidays to support his education. Despite financial challenges and the loss of his father, Ndindi Nyoro posted exemplary KCSE results in 2003, securing university placement.
In 2005, Nyoro joined Kenyatta University to pursue a Bachelor of Arts in Economics. To support himself, he set up a restaurant and worked part-time as a stockbroker. He was elected Academic Secretary of the Kenyatta University Student Association and graduated in December 2009.
Ndindi Nyoro Wife
The firebrand politician came from a peasant family where he was born the last in a family of four. He lost his father at a young age and the family struggled to make ends meet.
He is married to Sophia Wambui.
Career
Before venturing into politics, Ndindi did a couple of businesses. He worked part-time for Ngenye Kariuki and company stock brokers whose director was Ngenye Kariuki, former Member of Parliament for Kiharu.
Later, he formed Stockbridge Stockbrokers and started Afrisec Telecoms, an internet service provider. In 2016, he co-founded Investax Capital, a stock brokerage firm, and due to a conflict of interest left Stockbridge Securities. Investax is one of the leading stock broker agencies in the country.
Politics
The MP was introduced to politics while studying at Kenyatta University. During his tenure as a member of the Kenyatta University Students Association, he met a number of people who are also affiliated with politics, such as Senator Isaac Mwaura Maigua, speaker of Nyeri county Assembly John Kaguchia and Runyenjes MP Muchangi Karemba.
From 2013 to 2016, he worked as the chairperson of Kiharu Constituency Development Fund (CDF).
In the 2017 general elections, he vied for the Member of Parliament seat for the Kiharu constituency under the Jubilee party ticket. He beat his opponents garnering 60,881 votes and became the Kiharu Member of Parliament at the age of 32.
Ndindi Nyoro Businesses
Apart from being an MP, Nyoro is a businessman. He established Stockbridge Securities while still a student at Kenyatta University and a part-time employee of Ngenye Kariuki and Company Stockbrokers. Nyoro describes Ngenye Kariuki, the then director of the stock brokerage company, as a mentor who introduced him to the world of stock brokerage. Kariuki is a former MP for Kiharu constituency. In 2010, Nyoro left Ngenye Kariuki and Company Stockbrokers and established Afrisec Telecoms, an internet service provider.
In 2016, he co-founded Investax Capital which grew to become one of the largest stock agents in Kenya with branches in various parts of the country.
“Though I am a politician I will never give up on stockbroking,” Nyoro said.
The two businesses, Afrisec and Investax, gave birth to Sahara Capital, an equity firm that has invested in IT, energy, and finance. Ndindi is one of the largest individual shareholders at the Kenya Power and Lighting Company.
Investax Capital
Once Stockbridge and Afrisec were well established, Ndindi co-founded Investax Capital in 2016, alongside his former classmate from Kenyatta University.
Nyoro’s expertise in stock market investments quickly became evident as Investax Capital made strategic acquisitions and investments in various sectors, including real estate, technology, and manufacturing. His ability to anticipate market trends and make informed investment decisions played a crucial role in growing the firm’s portfolio and profitability.
However, he exited Investax soon after due to a conflict of interest since he also owned Stockbridge.
“I could not continue with Stockbridge after starting Investax Capital because of a conflict of interest. Stockbridge was operating under Dyer and Blair Investment Bank Ltd and Investax under CFC Stanbic Bank. I left it freely to a friend and partner who now runs it as his own,” Ndindi said in a past interview.
Investment Diversification
Recognizing the importance of diversification, Nyoro expanded his business interests beyond the stock market. He ventured into the energy sector and is one of the largest shareholders in Kenya Power.
At the end of June 2023, Ndindi owned 32.5 million Kenya Power shares, up from 27.29 million in June 2022. This raised his stake to 1.67% of the state-owned entity, placing him among the largest shareholders according to regulatory filings.
Ndindi Nyoro Net Worth
Ndindi Nyoro’s wealth is predominantly tied to his investments in various companies, particularly in the stock market.
KPLC Shares: Kenyans have known Ndindi Nyoro as the largest shareholder at the Kenya Power and Lighting Company for several years. His 32.5 million shares were valued at approximately Ksh 51.35 million as of June 2023. However, by January 2024, he had sold a portion of these shares, reducing his direct holding to 20.72 million shares, worth about Ksh 29 million at current market prices.
TransCentury Shares: In March 2024, Ndindi Nyoro purchased 20 million shares in TransCentury Plc, an infrastructure company listed on the Nairobi Securities Exchange. This gave him a 1.77 percent stake in the company, valued at approximately Ksh 8.6 million.
Afrisec Telecoms: A company established in 2010 to provide internet, software, networking and surveillance services. As at July 2023, the company was valued at over $1.2 million, with its estimated registered Capital ranging between US$50 Million and US$100 Million.
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