The Nairobi Securities Exchange (NSE) has indefinitely suspended trading in TransCentury Plc (NSE:TCL) and East African Cables Plc (NSE:CABL) shares, effective June 23, 2025.
- •The decision follows the appointment of PricewaterhouseCoopers’ George Weru and Muniu Thoithi as joint receivers and managers, after TransCentury was placed under receivership and East African Cables placed under administration on June 20, 2025.
- •The NSE cited unresolved legal and operational uncertainty under Regulation 73(2)(a) of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023.
- •The suspension comes in the wake of enforcement actions by Equity Bank, which appointed joint receivers after legal protections expired.
With receivers now back in control and no final court ruling in place, the NSE deemed ongoing trading incompatible with investor protection and market stability.
At the heart of the standoff is a KSh 2.2 billion loan, with TransCentury accusing the lender of obstructing efforts to refinance and stabilize its operations. While the court is set to revisit the matter on July 24, the ongoing uncertainty has already cast a shadow over one of the NSE’s best-performing stocks of 2025, which had rallied over 180% year-to-date before the suspension.
NCBA Shares Climb to Highest Level Since 2015
Meanwhile, NCBA Group Plc (NSE: NCBA) touched KSh 58.00 in Monday’s trading, a level last seen in January 2015. The stock has posted a 16.2% gain year-to-date, further supported by strong Q1 2025 results showing a KSh 5.5 billion net profit—up 3% year-on-year.
The lender’s strong financial showing has lifted investor sentiment, with the stock gaining 9.8% in the past month, 25.3% over six months, and 37.3% year-on-year. The rally was further backed by a final dividend payout of KSh 3.25 per share for FY 2024, issued on May 28.
