NSE (Nairobi Securities Exchange) closed July on a bullish note. The bourse had a return of 6.1% compared to 9.0% in June 2026. The benchmark N10, NSE 20, and NSE 25 indices grew 5.8%, 9.0%, and 5.8%, respectively.
Safaricom was the top traded stock accounting for 25% of the month’s turnover. Banking counters dominated the remainder of the top-traded list.
Britam was the NSE month’s top gainer. Its share priced soared 38.6% to KSh 17.40. Home Afrika shed 22.2% to KSh 1.05, closing as the July top loser.
Foreign investors at the NSE continued to flee. Most engaged in profit-taking, snapping a two-month run of net inflows.
Net foreign outflows in the month of July totalled US$ 13.1 million. Banking and Telcos drove most of the selling pressure.
Corporate Actions in July at the NSE
Nedbank Group Limited’s offer to acquire approximately 66% of NSE listed NCBA Group PLC’s issued ordinary shares was oversubscribed. The offer received a subscription rate of 79.90%.
Nedbank’s final post-settlement holding will be capped at the targeted 66%, with existing shareholders retaining 34%.
Kenya, Rwanda, Tanzania, and regional trade bodies have already been secured.
The remaining regulatory clearances are expected by the end of Q3 2026. Settlement and share transfers will begin within 10 to 14 trading days. Full completion of the transaction is late Q3 or early Q4 2026.
NCBA will remain listed on the NSE as it continues to satisfy minimum public shareholding requirements.
In July, Centum notified its shareholders of sale a 60% equity stake in Nabo Capital Limited to Rock Investment Bank. Following this, Nabo ceases to be a subsidiary of Centum. It will become an associate company, with Centum retaining a 40% shareholding.
British American Tobacco Kenya Plc (BAT Kenya) recorded a 3.1% growth in profitability from KSh 3.0Bn in 1H2025 to KSh 3.1Bn in 1H26.
The firm’s net revenues rose 4.6%, which offset the 6.8% growth in operating costs.
The BAT Board of Directors approved the payment of a KSh 10.00 per share interim dividend to shareholders on the register as of the close of 28th August 2026. The dividend will be paid on or about 25th September 2026.
According to analysts, BAT Kenya remains an exceptional cash cow. It has strong cash flow conversion and healthy balance sheet reserves. These should comfortably support high dividend payouts.
