The vocal Kiharu Member of Parliament is known for his staunch support for Deputy President William Ruto, however, little is known of his individual wealth.
The MP appeals to many as a low-key legislator, with photos he constantly uploads to his social media, depicting a man in love with farming and the simple life.
However, the legislator is wealthier than many know, credit to his sheer ambition and will to succeed.
File image of Kiharu MP Ndindi Nyoro at Investax Capital offices. |Photo| Courtesy|
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In an interview with Daily Nation in 2016, the legislator describes how he preyed on the Information Communication Technology (ICT) and money markets to make a fortune for himself.
The soft-spoken politician built his empire, comprising three companies before he stepped into the political scene.
His journey from the 'have nots' to the 'haves' was not a walk in the park, as the former cobbler and street hawker, overcame multiple challenges to get to where he is.
Perhaps, his famous, "we are African and Africa is our business" slogan combined with his support for the "Hustler Nation" mirror his beliefs and rise to the top.
His illustrious investment portfolio traverses various sectors of the economy; stock brokerage, communication, construction, civil works, water engineering, and drilling.
Nyoro revealed he owned Afrisec Telecoms, Investax Capital, and Telesec Africa. As of 2016, the three companies had a valuation in the excess of Ksh300 million posting an annual turnover of Ksh50 million.
He first founded Stockbridge Securities. However, the company struggled at infancy resulting from poor internet connectivity which caused a delay in executing trades.
As a result, Nyoro founded Afrisec, an internet provider in the year 2010.
He co-founded Investax Capital in 2016 but withdrew his shareholding and resigned from Stockbridge to avoid a possible conflict of interest.
“I could not continue with Stockbridge after starting Investax Capital because of conflict of interest. Stockbridge was operating under Dyer and Blair Investment Bank Ltd and Investax under the CFC Stanbic Bank. I left it freely to a friend and partner who now runs it as his own,” Nyoro was quoted as saying.
Reports indicate that Investax Capital is one of the largest stock agents in East and Central Africa.
Afrisec Telecoms is certified by Kenya Data Networks and offers services in internet solutions, software and application solutions, surveillance solutions, and networking.
Nyoro had channeled over Ksh4 million into the Afrisec as of 2014. By adopting a global formula of valuing ISPs, Afrisec was reported to be worth in excess of about Ksh50 million as of 2016.
The Kiharu legislator later added a new company, Telesec Africa, to his list of ventures. The company majored in construction, civil works, water engineering, and drilling.
Nyoro adopted a rather different hiring strategy, employing people younger than him or in the same age bracket.
“I always tell my employees to learn to do business within my business. I do not want them to forever remain my employees. I want them to go out there and venture into business, succeed, and become employers too," Nyoro had earlier stated.
The politician maintains a simple life, and as a result, his wealth remains unknown to many.
File image of Kiharu MP Ndindi Nyoro at Investax Capital offices. |Photo| Courtesy|
