State bets on NSE to raise capital amid reforms push
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Feb 17, 2026
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Graham Kajilwa
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The Standard
The Standard
A few years ago, when the Kenyan market was struggling to access dollars as inflation surged, the interest rate regime was the preferred capital mop-up tool for the government.
Key Takeaways
- Kenya's government is shifting its capital-raising strategy from high-interest debt instruments to leveraging the Nairobi Securities Exchange (NSE).
- The NSE has experienced a significant boom, with market capitalization surging to a record Sh3 trillion, the highest in its 70-year history.
- This market growth is attributed to improved economic stability in Kenya, including eased inflation, a strengthened shilling, and lower interest rates.
- The government plans to list State-owned enterprises, starting with Kenya Pipeline Company (KPC) in March, to capitalize on the bullish market and investor interest.
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