Nairobi Securities Exchange Plc has reported a 177% rise in profitability for the half year ended June 30, 2025, supported by increased bond market activity and tighter cost controls.
- •The bourse’s profit after tax to KSh 151.6 million from KSh 54.7 million in the prior year.
- •Total income grew 19.1% to KSh 511.6 million, supported by surging transaction levies on bonds and equities.
- •Bond transaction levy increased 78% to KSh 153.0 million, while equity levy advanced 18% to KSh 133.9 million.
Data income fell 12.9% to KSh 58.2 million and interest income eased 8.5% to KSh 65.6 million.
The bourse’s total expenses contracted 8.7% to KSh 309.9 million, reflecting lower staff and operating costs. Operating profit rose to KSh 201.7 million from KSh 90.0 million.
Shareholders’ funds increased 9.6% to KSh 2.06 billion. The board did not declare an interim dividend.
| Metric | Jun 30, 2025 | Jun 30, 2024 | YoY % |
|---|---|---|---|
| Total Income | 511.6 Mn | 429.5 Mn | +19.1% |
| Transaction Levy – Equity | 133.9 Mn | 113.5 Mn | +18.0% |
| Transaction Levy – Bond | 153.0 Mn | 86.0 Mn | +77.9% |
| Data Income | 58.2 Mn | 66.8 Mn | -12.9% |
| Interest Income | 65.6 Mn | 71.7 Mn | -8.5% |
| Other Income | 22.8 Mn | 9.8 Mn | +133.0% |
| Total Expenses | 309.9 Mn | 339.5 Mn | -8.7% |
| Operating Profit | 201.7 Mn | 90.0 Mn | +124.0% |
| Profit Before Tax | 202.9 Mn | 80.0 Mn | +153.6% |
| Profit After Tax | 151.6 Mn | 54.7 Mn | +177.0% |
| Total Comprehensive Income | 171.9 Mn | 50.6 Mn | +239.5% |
| Earnings Per Share (EPS) | 0.58 | 0.21 | +176.2% |
| Total Assets | 2.30 Bn | 2.12 Bn | +8.7% |
| Cash & Bank Balances | 751.0 Mn | 624.5 Mn | +20.3% |
| Shareholders’ Funds (Equity) | 2.06 Bn | 1.88 Bn | +9.6% |
Market Context
Equity turnover for the first half rose 18% to KSh 56 billion, while bond turnover crossed the one trillion mark for the first time, up 78% to KSh 1.3 trillion.
- •The launch of single-stock futures expanded the NSE derivatives market, providing new hedging options for institutional investors.
- •Together with these initiatives, the Exchange unveiled its 2025–2029 strategic plan aimed at scaling retail investor numbers, diversifying product offerings, and embedding technology in trading and governance.
The government’s commitment to privatization via capital markets, including a planned Kenya Pipeline Company IPO, is expected to further deepen activity. Debt management reforms, such as longer-dated bond sales and buybacks, are being considered to strengthen fiscal stability.
With profitability rising, liquidity improving, and new products coming onstream, NSE projects stronger momentum in the second half of 2025. Management expects a more accommodative interest rate environment, continued investor participation, and the execution of the strategic plan to drive growth across equity, bond, and derivative markets.
