750% Kenya Power Share Price Growth, Ksh1.2B State House Church, KRA Tax Returns

Hello and welcome to the Money Weekly Newsletter, where we are covering billions in profits for Kenya Power investors after the share price swelled by 750% as well as President Ruto’s response to Ksh1.2 billion church under construction on State House grounds.

But first, a word from our sponsoring partner, Jubilee MMF.

Sponsored Content

Save and Win Ksh10K With Money254 Challenge

We have partnered with the Jubilee Money Market Fund — to make your savings work harder for you. By signing up with the Jubilee Money Market Fund, you enjoy competitive returns with daily interest and monthly compounding. Money254 will reward one lucky saver with a Ksh10,000 boost to their savings, and it could be you. Sign up Here.

Surge in Kenya Power Share Price

Kiharu MP Ndindi Nyoro, while meeting African American investors on Thursday, revealed that his investment in Kenya Power shares earned him Ksh244 million from an initial investment of Ksh56 million.

This return is a result of a surge in the utility firm's share value, which, according to the company's balance sheet, has grown by 750% since July 2023.

"Kenya Power’s share price has recorded a remarkable 750% growth over the past 18 months — rising from Ksh1.32 in December 2023 to Ksh11.10 as of yesterday, 26th June 2025. This rally reflects renewed investor confidence, driven by the company’s strong financial performance, expanding connectivity, a stable grid, and improving system efficiency," the company announced last week.

Nyoro, who is among the minority investors in the company but holds the record as the largest individual shareholder, has seen his profits grow steadily over the four years since he began investing.

What Nyoro Said: "I bought those shares myself, not in 2023. I've been buying them over the last four years. My average buying price is about Ksh1.89. I was looking at my CDS account, where I have invested around Ksh56 million, roughly $430,000," he stated.

"I kept telling my friends and family to buy the shares. Because even if you buy, what are you losing? I bought 30 million shares. As we speak today, the value of those shares alone is close to Ksh300 million."

Read more on Nyoro’s Ksh244 million profits here.

Here is a quick recap of the top money news for the week:

Ksh1.2 billion State House Church

Earlier this morning, Daily Nation reported that President William Ruto's administration is constructing a church at State House with a price tag of Ksh1.2 billion. The facility is designed to be an 8,000-seater cathedral-like structure.

In response, Ruto stated that he had no apologies for the project, clarifying that he was funding the construction personally, not using taxpayer money. "When I was elected, we found an iron sheet church at State House. I have no apologies for building a proper church at State House," Ruto explained, "The construction of the church is not costing the government a single cent. I will build the church with my own money because the house of God deserves respect."

Catch Up on More News

WEEKLY MONEY TIPS

MONEY254 #MONEYTOK

How to Transition From Red Driving License to NTSA’s Driving License and Charges Involved

All drivers in Kenya will soon be required to replace their red booklet licenses with the new smart driving license, as announced by NTSA in 2024. The smart license will support instant fines for traffic offenses.

To get yours, apply through the eCitizen NTSA portal, pay Ksh3,050, and book a biometrics appointment at your nearest center. Processing takes five working days. Watch the full video for the step-by-step guide.

@money254hq

𝐇𝐨𝐰 𝐭𝐨 𝐓𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐅𝐫𝐨𝐦 𝐑𝐞𝐝 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐋𝐢𝐜𝐞𝐧𝐬𝐞 𝐭𝐨 𝐍𝐓𝐒𝐀'𝐬 𝐒𝐦𝐚𝐫𝐭 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐋𝐢𝐜𝐞𝐧𝐬𝐞 𝐚𝐧𝐝 𝐂𝐡𝐚𝐫𝐠𝐞𝐬 𝐈𝐧𝐯𝐨𝐥𝐯𝐞𝐝 All drivers in Kenya will soon be required... See more

That’s a wrap for this week’s Money Weekly!

Remember that we can help you compare over 300 loans, savings accounts, current accounts, and more on our website if you’re thinking about your next product.