The Nairobi Securities Exchange’s half-year profit jumped 386% to KSh 736.9Milllion in H1 2026, its highest since listing in 2014, as a trading boom pushed total income to KSh 1.21Billion.

Equity transaction levy income jumped 476% to KSh 770.5Mn, buoyed by the KSh 204.3Bn Safaricom block trade, while management said equity turnover still rose 111% excluding the transaction, pointing to a broader recovery in market activity.
Profit before tax rose to KSh 1.01Bn from KSh 202.9Mn, while operating profit before expected credit losses and fair value movements increased more than fourfold to KSh 900.5Mn.
The increase flowed through with little additional cost: total expenses were broadly flat at KSh 309.8Mn, compared with KSh 309.9Mn a year earlier.

The result marks a sharp break from NSE’s post-listing earnings history. First-half profit had previously peaked at KSh 178.6Mn in 2015, before falling to KSh 82.0Mn in 2016 and remaining below the 2015 level through H1 2025. H1 2026 profit is more than four times the previous first-half record since NSE listed its shares and almost five times the KSh 151.6Mn earned in H1 2025.

Trading was the main earnings driver. Equity turnover reached KSh 322Bn, from KSh 56Bn a year earlier, with the Safaricom block accounting for KSh 204.3Bn. Bond turnover increased to KSh 1.70Tn from KSh 1.39Tn, lifting bond transaction levy income 22% to KSh 187.3Mn. Derivatives turnover climbed to KSh 637Mn from KSh 34Mn.

Revenue growth extended beyond equity trading. Data income increased 29% to KSh 75.2Mn, listing fees rose 37% to KSh 45.7Mn, and interest income increased to KSh 69.4Mn. NSE’s share of gains from an associate jumped to KSh 136.6Mn from KSh 6.6Mn, providing another significant lift to pre-tax earnings.

Issuer activity also strengthened during the half. Kenya Pipeline Company joined the exchange following its IPO, while Family Bank listed by introduction. NSE also cited the TRIFIC USD REIT and new corporate debt listings among developments broadening activity across the market.

The earnings surge strengthened NSE’s balance sheet. Total assets rose to KSh 3.62Bn from KSh 2.30Bn, while total equity increased to KSh 2.87Bn from KSh 2.06Bn. Annualised return on equity climbed to 51.5% from 14.8%, with return on assets rising to 40.7% from 13.2%.

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