The Nairobi Securities Exchange(NSE) sets shareholding limits for investors, companies, and trading Participants.
According to the NSE, they reaffirmed the limits for investors, companies, and trading participants as outlined under the Capital Markets (Nairobi Securities Exchange Limited Shareholding) Regulations, 2016.
In a circular dated October 29, 2025, NSE Chief Executive Officer Frank Lloyd Mwiti stated that setting limits helps maintain compliance with the legal requirements governing ownership of the Exchange.
NSE Shareholding Limits
According to the regulations:
• Individuals and Private Companies:
No individual or private company—whether directly, indirectly, or acting in concert—was permitted to hold more than five percent (5%) of the equity share capital of the Nairobi Securities Exchange.
• Public Companies:
A public company, whether acting independently or in concert with others, was restricted from holding more than ten percent (10%) of the equity share capital of the Exchange.
• Trading Participants:
Licensed trading participants at the NSE—such as stockbrokers and investment banks—were collectively limited to a cumulative shareholding of not more than forty percent (40%) of the Exchange’s total equity.
Also Read: Family Bank Listing on NSE Approved
All shareholders, trading participants, and other relevant persons are advised to exercise due caution when dealing in shares of the Exchange, whether on their own behalf or on behalf of clients.
The NSE stated that the measure is intended to ensure that no transaction results in a breach of the prescribed shareholding thresholds.
To support compliance with these regulations, investors and market intermediaries are required to notify the Nairobi Securities Exchange PLC of any proposed transactions involving its shares and to obtain written confirmation prior to executing such transactions.
This requirement applies to all investors, including those who are nearing or have already exceeded the specified shareholding limits.
The Exchange further advised all parties to review their current and prospective holdings to ensure continued compliance with the applicable regulatory framework.
Also Read: New NSE Banking Index Launched to Track 11 Kenyan Banks
The reminder followed the Exchange’s December 2024 financial disclosures, which revealed that the top 20 shareholders controlled 76.59 percent of the company’s issued shares.
The remaining 23.41 percent (61 million shares) were held by other investors.
NSE Top 20 Shareholders as of December 2024
According to the report, the leading shareholder was Standard Chartered Kenya Nominees Ltd, A/C KE004468, which held 41,764,400 shares, representing 16.02% of the total issued shares.
It was followed by Standard Chartered Kenya Nominees Ltd, A/C KE22446, with 20,329,830 shares, or 7.80%, and Standard Chartered Kenya Nominees Ltd, A/C KE003414, which accounted for 14,356,494 shares, or 5.51%.
Stanbic Nominees Ltd A/C NR1030823 held 12,997,399 shares or 4.99%, while Stanbic Nominees Ltd A/C NR1031436 controlled 12,071,233 shares or 4.63%.
Both the Investor Compensation Fund Board and the Permanent Secretary to the Treasury each held 8,750,000 shares, representing 3.35% of the total.
Another nominee account under Standard Chartered Kenya Nominees Ltd A/C KE22816 owned 7,247,499 shares, or 2.78% of the Exchange.
Several brokerage and investment firms each accounted for 2.69% of the NSE’s shares, with Nyaga Stock Brokers Ltd, Discount Securities Limited, ABC Capital Limited, Sterling Capital Limited, Kingdom Securities Limited, and Renaissance Capital (Kenya) Limited each holding 6,879,090 shares.
Stanbic Nominees Ltd, A/C NR1031142, followed closely with 6,786,143 shares, representing 2.64%, while Standard Chartered Kenya Nominees Ltd, A/C 063123501897, held 6,776,143 shares, or 2.60%.
Standard Chartered Kenya Nominees Ltd A/C KE002506 owned 5,657,600 shares, equivalent to 2.17%, while Dyer & Blair Investment Bank Limited held 4,300,000 shares or 1.65%.
Africa Allied Investors Ltd followed with 4,236,300 shares or 1.62%, and NCBA Investment Bank Limited rounded off the list with 3,500,000 shares, accounting for 1.34% of the total issued shares.
Follow our WhatsApp Channel and X Account for real-time news updates.
