Equity turnover at the Nairobi Securities Exchange (NSE) reached KSh395 billion in the nine months to September 2026, more than twice the KSh145 billion recorded for the whole of 2025.
The first half of 2026 saw turnover of about KSh322 billion, compared with KSh56.03 billion in the same period a year earlier, according to the exchange’s financial report.
A block trade involving 6.01 billion Safaricom shares valued at KSh204.3 billion accounted for roughly 51.7 per cent of the nine-month total, and without it turnover would still have been about KSh190.7 billion, exceeding the entire 2025 figure.
The Capital Markets Authority reported that 333,043 new investors joined the market in the nine-month period, bringing the total to 2.36 million, more than three times the 98,063 added in the comparable 2025 span.
Market capitalisation rose to KSh4.12 trillion at the end of September, crossing the KSh4 trillion threshold for the first time.
Applying the maximum brokerage rate of 1.78 per cent to both sides of transactions yields a theoretical commission pool of up to KSh14 billion, although actual earnings depend on the rates charged.
Reported broker commissions increased 73 per cent to KSh2.76 billion in the first half of 2026, while combined income of market intermediaries reached KSh9.88 billion, up from KSh3.7 billion a year earlier.
NSE revenue more than doubled to KSh1.2 billion in the six months to June 2026, surpassing the KSh511.5 million earned in the same period in 2025 and exceeding the full-year 2025 total of KSh1.08 billion.
The equity transaction levy grew to KSh770.5 million in the first half, a rise of about 476 per cent from KSh133.8 million a year earlier, and represented roughly 64 per cent of the exchange’s half-year revenue.
Bond market turnover stood at KSh2.54 trillion by the end of September, adding another source of activity for brokers and investment banks.
New listings included Kenya Pipeline Company’s March IPO of 11.81 billion shares at KSh9 each, Family Bank’s introduction in June, and Quickmart’s public offer, alongside dollar-denominated REITs from Trific Green and Africa Logistics Properties.
A separate large-share transaction saw Dangote Group acquire a 24.7 per cent stake in Kenya Pipeline Company for KSh42.5 billion, illustrating how ownership changes can generate significant market activity.
“The equity market recorded its strongest performance in several years, with turnover rising by 476 per cent in the first six months to KSh322 billion,” the NSE said in a trading update.
“Trading activity was supported by increased participation from both institutional and retail investors, alongside a significant block trade involving 6.01 billion Safaricom Plc shares valued at KSh204.3 billion, which materially boosted market liquidity and turnover,” the exchange added.
“The period under review marked a significant turning point for the NSE, with a notable resurgence in listing and capital-raising activity that underscored renewed confidence in Kenya’s capital markets,” the NSE further commented.
