Ndindi Nyoro is a prominent businessman and politician, currently serving his second term as the Member of Parliament for Kiharu Constituency in Murang’a. He is also the Chairman of the Budget and Appropriations Committee in the National Assembly.
When the Kenya Kwanza administration came into power in August 2022, many expected Ndindi Nyoro to be among the cabinet nominees. While he did not make it to the list, Ndindi remains a senior-ranking politician and a member of President Ruto’s inner circle.
Ndindi is an ambitious politician, and he has openly expressed his intentions to rise to the position of President of the Republic of Kenya. Recently, he came under fire for being one of the Mount Kenya politicians fueling the Ruto-Gachagua fallout.
Apart from his political career, Ndindi is a businessman and investor, recently making headlines for buying shares in top companies.
Background
Born on December 12, 1985, in Murang’a County, Kenya, Ndindi Nyoro’s early life was characterized by modest means. Raised in a rural setting, he learned the value of hard work and resilience from an early age.
Nyoro attended Gathukeini Primary School before proceeding to Kiambugi Boys Secondary School, after being unable to afford the admission fees at Kiaguthu Boys, a more popular school in Murang’a County.
At Kiambugi Boys, Ndindi’s family struggled to raise his school fees, leading him to take odd jobs to supplement the fees. He repaired shoes for his schoolmates, burned charcoal, and sold second-hand clothes to raise extra income. He also worked as a temporary librarian after his KCSE exams to clear fee arrears.
His academic prowess earned him a spot at Kenyatta University in 2009, where he pursued a Bachelor’s degree in Economics.
Start of His Entrepreneurial Journey
Ndindi started his first company, Stockbridge Securities, while still at Kenyatta University. He also worked part-time as a broker for Ngenye Kariuki & Company stockbrokers, which introduced him to the world of stock investing.
However, with trades requiring fast decision-making and a fast internet connection, Ndindi faced lost opportunities, prompting him to consider entering the internet business.
In 2010, Ndindi started Afrisec Telecoms, an ISP headquartered in Thika. The company provides software solutions and internet services in Nairobi and Kiambu counties. Employing about 50 employees, Afrisec is valued at more than $150 million.
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.
His Investment Maneuvers
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.
However, in January 2024, Ndindi sold 11.78 million of his shares, bringing the total number of shares to 20.72 million. This lowered his stake from 1.67% to 1.06%, according to the latest regulatory filings.
In February 2024, Ndindi acquired new shares in TransCentury PLC, an investment holding company listed on the Nairobi Stock Exchange. The company specializes in infrastructure investments, specifically in the Energy, Power, Water, and Industrial sectors. This acquisition places him among the top five largest shareholders of the company.
Political Career and Influence
In addition to his business ventures, Ndindi Nyoro has made a significant impact in the political arena. In 2017, he was elected as the Member of Parliament for Kiharu Constituency, representing the Jubilee Party. His entry into politics provided him with a platform to influence economic policies and advocate for business-friendly regulations.
As an MP, Nyoro has been a vocal proponent of youth empowerment and entrepreneurship. He has launched various initiatives to support small and medium-sized enterprises (SMEs) and has championed legislation aimed at creating a conducive environment for business growth.
Philanthropy and Community Engagement
Nyoro has established several philanthropic initiatives focused on education, healthcare, and poverty alleviation. Through scholarships, mentorship programs, and community development projects, Nyoro has positively impacted the lives of many Kenyans.
One notable initiative is the Ndindi Nyoro Foundation, which provides scholarships to bright but underprivileged students. The foundation also supports healthcare programs in rural areas, ensuring access to quality medical services for disadvantaged communities.
Conclusion
Ndindi Nyoro’s journey from a young entrepreneur to a successful businessman and influential politician is a remarkable story of hard work, determination, and strategic thinking.
His ability to identify lucrative opportunities, coupled with his commitment to community development, has solidified his status as one of Kenya’s most inspiring figures. As he continues to grow his business empire and influence, Nyoro’s legacy as a self-made millionaire and a champion for economic empowerment will undoubtedly endure.