Foreign investors take 40pc ownership of Nairobi bourse

Foreign investors now own a 40.4 per cent stake in the Nairobi Securities Exchange (NSE) after buying 78.6 million shares from founding stockbrokers who have been taking profits following the bourse’s self-listing in September 2014.

Regulatory filings show that 10 market intermediaries, including Ngenye Kariuki, African Alliance, AIB Capital and Francis Drummond, have traded all or part of their shares in the NSE, significantly changing the ownership structure of the company that is Kenya’s only stock exchange.