The Nairobi Securities Exchange (NSE) hit an unprecedented market capitalisation of KSh 3.886 trillion in the week ending July 17, 2026, rising KSh 42.3 billion in a single week. Local investors, now driving 81% of turnover, are the primary force behind this record run.
Records across every index
The NSE All Share Index (NASI) closed at 231.57 — its highest-ever closing level. The NSE 25 simultaneously hit an all-time high at 6,419.43 (+0.92%). This rally caps an exceptional first half: the NSE delivered +19% in US dollar returns in H1 2026, and +27.8% in Kenyan shilling terms. A stable shilling — maintained by a disciplined Central Bank of Kenya (CBK) — allowed foreign investors to convert local gains into dollars without currency loss.
Safaricom, Equity Group and KCB lead the pack
Banking and telecoms stocks continue to dominate. Equity Group led weekly trading at KSh 476.2 million, followed by KCB Group (KSh 370.6 million) and Safaricom (KSh 361.2 million). Together, they accounted for over 55% of weekly equity turnover. Top gainer of the week was Britam Holdings, up +26.12%.
In H1 2026, two new listings — Kenya Pipeline Company (March) and Family Bank (June) — added KSh 212.2 billion in market cap. Even without these additions, existing companies still delivered +20.5% gains.
The CBK contributed by cutting its benchmark rate from 10.75% to 8.75% in recent months, fuelling credit expansion. On the bond segment, weekly turnover reached KSh 32.49 billion (+9.24%).
Kenya ranks 6th in Africa for H1 performance
Despite local euphoria, foreign investors turned net sellers in the July 17 week, recording net outflows of KSh 300.7 million. They account for just 18.9% of turnover — a profit-taking move after a stellar semester. For the half-year, Kenya ranks 6th among African equity markets, behind Nigeria (+56.1%), Zimbabwe (+48%), Tunisia (+42.3%), South Africa (+23.5%) and Côte d'Ivoire (+21.3%).
Kenya's economy grew 5.3% in Q1 2026 — the fastest pace since late 2023 — led by tourism (+14.7% in hotel and restaurant activity), construction and finance. Airport arrivals exceeded 500,000 in the quarter alone.
Why this matters
Local investors now driving 81% of NSE turnover marks a structural milestone for the exchange. For Indian Ocean companies and decision-makers seeking regional financing or portfolio diversification, Nairobi is cementing its position as East Africa's benchmark financial platform.