In this sixth edition of the Just Money podcast, our host Just Ivy Africa speaks to John Collins, a Senior Analyst at Faida Investment Bank, and Ronny Chokaa, a Senior Research Analyst at Capital A Investment Bank, concerning money, stocks, and building wealth on the Nairobi Securities Exchange (NSE).
Dispelling the notion that investing is only for the rich, the analysts affirmed that the market is accessible for the everyday investor.
The NSE has seen a boom—the biggest in a decade. The NSE All Share Index was up 53% year-to-date as of the recent check.
For investors looking ahead to 2026, the analysts were bullish on several sectors:
- •Financial Services/Banking: Counters like KCB and Equity are moving into fintech and expanding into unbanked markets like Ethiopia, diversifying revenue streams.
- •Energy Sector: KenGen is increasing profitability and expanding generation capacity, while Kenya Power (KPLC) commands a monopoly and trades at a "steep discount to the book value".
- •Manufacturing: East African Breweries (EABL) is expected to see revenue growth as inflation cools and consumers return to spending. A potential merger, acquisition, or buyout, such as Diageo selling its beer business, could also cause a significant price rally.
John Collins emphasizes that "scared money doesn't make money," urging investors, particularly younger ones, to take risks and diversify.
Ronny Chokaa highlighted that recent innovations by the NSE and the Capital Markets Authority (CMA) have digitized the space and made it easier to invest, noting that the barrier to entry has lowered significantly—investors can now buy as little as one share of a company.
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