Top 10 Most Valuable Companies in Kenya Based on Stocks Value in 2024
The Nairobi Securities Exchange (NSE) had a highly successful 2024, driven by increased investor confidence
Penny stocks outperformed blue-chip stocks significantly, with East African Portland Cement (PORT) gaining over 300% during the year and emerging as the top-performing stock
Safaricom led as the most valuable company on the NSE, with a market capitalisation of KSh 689.13 billion, followed by Equity Group and EABL
Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research and reporting expertise, providing insights into Kenyan and global trends.
The Nairobi Securities Exchange (NSE) has experienced a relatively successful year in 2024.
From left, Safaricom CEO Peter Ndegwa, Equity Group CEO James Mwangi and KCB Group CEO Paul Russo. Photo: @PeterNdegwa_/@KeEquityBank/@KCBGroup.
Source: Twitter
The markets recorded increased investor confidence, which can be attributed to various economic and political occurrences, including, but not limited to, the government's successful repurchase of the Eurobond Loan that was due in June 2024, the arrest of the runaway inflation rates, stabilisation of the exchange rates, and the reduction of interest rates by the Central Bank of Kenya.
Notably, stocks that previously lagged on the loss side gained significantly in 2024. Penny stocks beat blue-chip stocks by a mile, with companies like East African Portland Cement (EAPC) ranking among the best-performing stocks on the Nairobi bourse after recording a gain of over 300% over the past year.
Most valuable Kenyan companies
TUKO.co.ke observed that the total market capitalisation, which stands for the total value of the available shares on the market, rose by KSh 3.25 billion to reach KSh 1.913 trillion at the close of the market on Christmas Eve.
Market capitalisation (market cap) determines a company's value by multiplying the number of outstanding shares by the price per share. The share prices were taken at the stock market's close on December 24, 2024.
The table below shows the most valuable companies based on the market cap on the NSE.
NSE Stock Company Share prices (KSh) Number of shares Market cap. (Value in KSh) 1 SCOM Safaricom Ltd 17.20 40.07b 689.13b 2 EQTY Equity Group Holdings PLC 46.00 3.77b 173.42b 3 EABL East African Breweries PLC 175.25 790.77m 138.58b 4 KCB KCB Group Ltd 39.55 3.21b 126.96b 5 SCBK Standard Chartered Bank 280.75 377.85m 106.08b 6 ABSA Absa Bank Kenya PLC 17.20 5.43b 93.40b 7 COOP The Co-operative Bank of Kenya Ltd 15.70 5.87b 92.16b 8 NCBA NCBA Group PLC 47.40 1.65b 78.21b 9 SBIC Stanbic Holdings PLC 140.00 395.32m 55.35b 10 IMH I&M Holdings PLC 32.85 1.65b 54.20b
15 best-performing stocks on the NSE
Earlier, TUKO.co.ke analysed the 15 best-performing stocks on the Nairobi Securities Exchange in 2024.
The top-performing stock, East African Portland Cement, gained over 312% in the past year, followed by Kenya Power, which gained 192%.
Other strong performers include KCB Group, I&M Holdings, and Liberty Kenya Holdings, with significant price gains in 2024.
Source: TUKO.co.ke
