By Joshua Otieno | April 2, 2026
Two prominent lawmakers have emerged as significant shareholders in Kenya Airways (KQ), signaling renewed investor interest in the struggling national carrier as the government seeks a multi-billion shilling bailout.
Kiharu MP Ndindi Nyoro and Thika Town MP Alice Ng’ang’a have collectively invested over Sh60 million in the airline, according to the latest regulatory filings for February 2026.
Mr. Nyoro acquired 10.4 million shares valued at approximately Sh49.2 million, making him the second-largest individual shareholder and the seventh-largest overall. His investment adds to a growing portfolio, having previously established himself as a major individual shareholder in Kenya Power.
Ms. Ng’ang’a purchased 2.3 million shares worth about Sh11 million, placing her among the airline’s top 20 shareholders and marking her entry into one of Kenya’s most high-profile corporate entities.
The timing of the investments comes as Kenya Airways intensifies efforts to secure a strategic equity partner expected to inject between Sh155 billion and Sh258 billion. Despite posting a net loss of Sh17.1 billion for the 2025 financial year, the government remains optimistic about stabilizing the airline through private-sector participation.
Currently, the National Treasury holds a 48.9 percent stake in the airline, followed by KQ Lenders Company—a consortium of local banks including NCBA, KCB, Equity Bank, and Co-operative Bank—at 38.1 percent. Air France-KLM controls a 7.8 percent stake, while the KQ Employee Share Ownership Scheme holds 2.44 percent.
Among individual investors, Nyoro now ranks just behind long-time top shareholder Kamau Mike Maina, while other notable minority stakeholders include Standard Chartered Nominees, Karishma Vijay Shah-Tanna, and Galot International Limited.
Analysts note that the shareholding structure remains fluid, with a potential equity injection likely to dilute existing stakes. However, the entry of high-profile political figures is being interpreted as a sign of confidence in the airline’s long-term recovery prospects.
The developments come as Kenya Airways continues to reposition itself amid financial challenges, with the government keen on reducing reliance on taxpayer support while restoring the carrier’s profitability and regional dominance.
