The Nairobi Securities Exchange (NSE) went on a bull run as investor wealth hit over Ksh.180 billion, with all major indices recording double-digit gains in 2025.
The surge has been fueled largely by Safaricom’s stock performance, which briefly pushed the telco’s valuation past the Ksh.1 trillion mark—the first time since December 2022.
As of Thursday, the NSE All Share Index (NASI) jumped 9.16% to close at 147.83, marking a 73% rally from its October 2023 lows.
The index posted gains of over 2% for three consecutive days—an exceptionally rare streak seen only once in the last decade, between March 22 and March 26, 2024.
The bullish is not limited to Safaricom, with all equity indices at the bourse having posted double-digit returns so far this year.
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Safaricom Leads the Charge
On Thursday, the stock briefly traded at Ksh.25.00—the first time it reached that level since December 22, 2022—reclaiming a market capitalization of Ksh.1 trillion during intraday trading. It later closed at Ksh.24.90, just Ksh.2 billion shy of the milestone.
Year-to-date, Safaricom shares have soared 46.04%, significantly outperforming investor expectations.
The telco’s current market cap of Ksh.997.6 billion now exceeds the combined value of all 11 listed banks and 6 insurers on the NSE, which collectively stand at Ksh.949.5 billion.
Investor Wealth Surges
The rally has also boosted total market capitalization at the NSE, which climbed from Ksh.2.146 trillion last week to Ksh.2.325 trillion by Thursday, with Friday’s session still pending. This reflects an increase of nearly Ksh.180 billion in investor wealth over just four trading days.
