Banking Stocks Drive NSE Gains in January
The NSE began 2026 with broad index gains led by banking stocks, even as equity turnover declined and foreign investors turned net sellers. Bond market activity rose sharply, and valuations remained supportive, pointing to rotation rather than exhaustion after a strong 2025.
Kenya's Stock Market Closes January Higher as Turnover Jumps and Foreign Inflows Return
The NSE closed the final week of January 2026 higher, with indices advancing and turnover rising 39% to KSh 4.45bn. Trading remained concentrated in large caps, while foreign investors returned to net buying with a KSh 506.8m inflow, reversing last week’s outflows.EABL's Interim Dividend Jumps 167% as Brewer Posts 38% Rise in Profit
East African Breweries reported a 38% rise in interim profit for the six months to December 2025 as revenue climbed 11% to a record 75.5 Bn. Volume grew 8%, expenses stayed flat, and lower finance costs lifted margins. Cash strengthened to 17.7 Bn, total debt fell to 37 Bn, and leverage improved to 0.5x EBITDA. The board declared an interim dividend of 4.00 per share, up 167% year on year, even as management flagged weak consumer spending and rising illicit alcohol penetration.Umeme Issues Fresh Profit Warning as Arbitration With Uganda Continues
Umeme has issued a second profit warning in just over three months, confirming it expects to post a full-year loss for 2025 after its 20-year electricity distribution concession in Uganda expired in March. The warning, released on 29 January 2026, follows an earlier interim-based notice and reflects the cessation of operating revenue after Q1 2025. With operations ended, investor focus has shifted to a London arbitration with the Ugandan government over disputed post-concession compensation, including a buyout audited at US$118.4 million (KSh 15.3 billion).Town Hall with Kenya Pipeline MD Joe Sang
For this special Live Trading Bell Townhall, the spotlight will be on a deep-dive conversation with Joe Sang, Managing Director of Kenya Pipeline Company (KPC), as we unpack the details behind one of Kenya’s most anticipated listings. This session offers a rare opportunity to hear directly from the man at the helm of KPC at a defining moment in the company’s history — moving from a state corporation to a publicly traded entity — and to better understand how this transaction fits into Kenya’s broader capital markets and privatization agenda
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NSE Last Week: Indices Advance as Turnover Rises and Foreign Outflows Ease
The NSE closed Week IV with modest gains across major indices as turnover rose 24.65% to KSh 3.2Bn.Cash in Circulation Rises to KSh 357Bn as Bank Withdrawals Outpace Deposits
Kenya’s currency in circulation rose 7.0 percent to KSh 357.02 billion in the year to June 2025, up KSh 23.2 billion, after net withdrawals from the Central Bank of Kenya reached KSh 23.23 billion. Banknotes grew 7.1 percent to KSh 345.64 billion, while coins rose 3.2 percent to KSh 11.38 billion. Currency inflows fell 7.8 percent to KSh 476.32 billion and outflows declined 6.6 percent to KSh 499.56 billion, indicating slower cash recycling.KenGen Seeks Shareholder Approval for Board and Governance Reforms
Kenya Electricity Generating Company has called a February 12 extraordinary general meeting to seek shareholder approval for governance reforms covering board composition, director tenure, and appointment rules. The proposals amend the Articles of Association, allow virtual voting, and aim to clarify state and minority shareholder roles. The move follows a similar notice by Kenya Reinsurance Corporation, signalling a broader push to reset governance at listed state-owned firms.Kenya Pipeline's KSh 106.3Bn Privatization to Support National Budget
The Kenyan government plans to raise KSh 106.3 billion from the sale of a 65% stake in Kenya Pipeline Company, positioning the IPO as a key source of non-debt financing for the FY2025/26 budget. The proceeds will accrue to the National Treasury as Kenya faces a projected budget deficit of about KSh 923 billion, delayed IMF support, and rising borrowing needs. The transaction forms part of a broader shift toward asset sales to support development spending while containing debt growth.Bamburi Cement's Former Owner LafargeHolcim EA Moves Closer to Liquidation
LafargeHolcim East Africa Limited is set to hold its final members’ meeting later this month as the company moves to formally conclude its voluntary liquidationKenya Pipeline IPO Prices At KSh 9 per Share, Valuing State Fuel Transporter At KSh 163.6 Billion
Kenya Pipeline Company has priced its IPO at KSh 9.00 per share, implying an equity valuation of about KSh 163.6 billion ahead of its planned NSE listing in March. The pricing is anchored on an earnings-based approach, using an implied EV/EBITDA multiple of 8.1x applied to FY2025 EBITDA of KSh 18.59 billion, translating to an enterprise value of about KSh 150.6 billion. The government is selling a 65% stake, with gross proceeds of roughly KSh 106.3 billion accruing to the National Treasury
