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World Bank buys Quickmart stake after Naivas exit
Nairobi Securities Exchange (NSE) CEO Frank Mwiti (right) with Quickmart PLc Founders Duncan Kinuthia (left) and his mother Zipporah Kinuthia during the launch of the Quickmart Initial Public Offering held on October 06, 2026.
Photo credit: Francis Nderitu | Nation Media Group
The World Bank’s private investment arm is buying a 6.5 percent stake in Quickmart through the retailer’s initial public offering (IPO) for Sh1.94 billion ($15 million), making a return to the local retail sector four years after selling a minority stake in Naivas Limited.
Quickmart says it has secured the investment from the International Finance Corporation (IFC)—the World Bank’s private investment arm— as a cornerstone investor in the Sh15 billion IPO, which has valued Quickmart at Sh30 billion.
