Safaricom and Equity Among Most Traded Kenyan Companies on NSE [Full List]

The Nairobi Securities Exchange (NSE) recorded significant equity turnover in the last quarter of 2025, with Safaricom topping the list of traded companies.

In its quarterly report released on January 28, the Capital Markets Authority (CMA) identified the top companies by turnover on NSE.

Safaricom registered an average turnover of Ksh4.91 billion over October to December, with monthly turnovers of Ksh4.34 billion in October, Ksh5.01 billion in November, and Ksh5.39 billion in December.

Equity Group followed with an average turnover of Ksh2.45 billion, driven largely by a December spike to Ksh4.34 billion. KCB averaged Ksh2.14 billion, while EABL averaged Ksh826.57 million during the same period.

Other companies in the top ten included KPLC (Ksh 471.25 million), Co-op Bank (Ksh423.38 million), KenGen (Ksh418.03 million), NCBA (Ksh298.56 million), BAT Kenya (Ksh 297.58 million), and Standard Chartered Bank (Ksh 286.13 million).

Safaricom Again Dominates NSE Market Capitalization Rankings

CMA, in its market capitalization figures for the last quarter of 2025, stated that Safaricom maintained the largest market capitalization among listed companies.

Safaricom’s market capitalization averaged KSh 1.17 trillion, with monthly values of KSh 1.21 trillion in October, KSh 1.15 trillion in November, and KSh 1.14 trillion in December.

Equity Group followed with an average market capitalization of KSh 246.23 billion, while KCB averaged KSh 199.23 billion, and EABL recorded KSh 188.8 billion.

Other companies in the top ten included NCBA with Ksh 140.04 billion, Co-op Bank with Ksh 132.89 billion, Absa with Ksh 125.92 billion, Standard Chartered with Ksh 111.82 billion, Stanbic with Ksh 76.0 billion, and I&M Group with Ksh 75.55 billion.

Also Read: CMA Approves Eight New Investment Schemes For Investors

Treasury Bonds

In the primary market, nine bonds were issued, including one saving development fixed coupon bond.

The Central Bank of Kenya (CBK) invited bids through eight re-openings and one Buyback.

In Q4 2025, the government targeted to raise Ksh200.00 billion. The received bids amounted to Ksh415.08 billion, with the Central Bank of Kenya accepting bids worth Ksh260.05 billion, representing a 130.02 percent acceptance rate.

Also Read: Safaricom Cleared by CMA to Roll Out KSh 40 Billion Fundraising Bond

The report stated that as of September 30, 2025, seven bond issuers were active, including Batian Income Properties, EABL MTN, Real People MTN, Family Bank MTN, Kenya Mortgage Refinance Company MTN, Linzi Sukuk, and Linzi Asset-Backed Security (ABS).

The value of outstanding bonds reached Ksh 70.49 billion, with Linzi ABS holding the largest share at Ksh 44.8 billion.

“The total value of outstanding bond issues stood at KShs.70.49 billion. Linzi ABS had the highest outstanding amount at Kshs.44.8 billion,” read part of the report.

Fund managers and nominee accounts held the bulk of the debt, totaling Ksh 57.8 billion, or 82 percent of the total issuance, followed by investment companies at 10 percent and banks at 6 percent.

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