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10 Most Valuable Companies in Kenya and What Fuels Their Growth

The list of the top companies in Kenya represents a range of industries, though the vast majority of them are in the financial services industry

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Investors looking for the best companies to invest in Kenya may want to check out the list of the top 10 companies in the country. This article explores the 10 most valuable companies in Kenya on the basis of market capitalisation.

A company’s market capitalisation or “market cap” in short, is the total value of all its shares. It is calculated by multiplying the company’s share price by the number of shares it has issued.

Let’s say that a company’s share price is Ksh15 and the company has issued a total of one million shares. In that case, the company’s market cap would be Ksh15 million. Since share prices fluctuate, market cap also changes from time to time.

It is important to consider the market cap when evaluating the companies to invest in. Investors look at the market cap to get an idea of how big a company is. Big companies are considered to be more stable than the small ones. As a result, the market cap can help investors gauge the risk of investing in a company. But large companies may not always be the best investments.

With all that said, these are the top 10 companies in Kenya on the basis of market capitalisation. 

1. Safaricom (SCOM)

  • Market cap: Ksh564 billion
  • Industry: Telecom

Safaricom is a telecommunications company. It operates in Kenya and Ethiopia. Safaricom is the largest mobile phone service provider in Kenya by number of subscribers. Its customers include individuals, businesses and government agencies.

While it primarily provides wireless voice, text and internet services, Safaricom also offers some wireline services. Moreover, the company offers a range of mobile money services under the M-Pesa brand. Additionally, Safaricom sells hardware products such as phones, tablets, laptops and internet gear.

Safaricom has a market capitalisation of Ksh564 billion, making it the largest company in Kenya. Safaricom shares are listed on the NSE under the “SCOM” ticker symbol.

>> Safaricom Takes Full Control of M-Pesa After Buying Out Vodafone

2. Equity Group (EQTY)

  • Market cap: Ksh135 billion
  • Industry: Financial services

Equity Group is a financial services provider. It operates banks in Kenya, Tanzania, Uganda, Rwanda, South Sudan and the Congo. Equity is the largest bank group in Kenya by market value.

In addition to the regular banking business, Equity offers a range of other financial services such as money transfer, investment management, and securities trading.

While Equity is primarily a financial services company, it also offers telecom services through its Equitel unit. Equitel provides wireless call, text, internet and mobile money services.

Equity Group has a market cap of Ksh135 billion. The group’s stock trades on the NSE under the “EQTY” ticker code.

3. East African Breweries (EABL)

  • Market cap: Ksh88 billion
  • Industry: Consumer goods

East African Breweries is a beer company. It brews beer under various brands, including Tusker, Pilsner, Guinness and Allsopps. Popularly known as EABL, the company has been in the beer business since the 1920s. While beer is its main business, the EABL produces other types of adult drinks.

EABL is the largest alcohol company in Kenya. In addition to Kenya, EABL operates brewing businesses in Tanzania and Uganda. East African Breweries has a market cap of Ksh88 billion. Its stock trades on the NSE under the “EABL” ticker symbol.

4. Co-operative Bank Kenya (COOP)

  • Market cap: Ksh65 billion
  • Industry: Financial services

Co-operative Bank is a financial services company. It provides banking, investment management and money transfer services. The bank also offers mobile money services through the MCoop Cash app.

Co-operative Bank, commonly known as Co-op Bank, operates in Kenya and South Sudan. It serves individual, business and government customers. Co-op Bank runs several business subsidiaries, including Kingdom Bank.

Co-op Bank is one of the largest financial services companies in Kenya. It operates dozens of bank branches and ATM locations across the country.

The bank company has a market cap of Ksh65 billion. Co-op Bank shares trade on the NSE under the “COOP” ticker symbol. 

>> Co-op Bank Recognized for Great Services Through Awards

5. Absa Bank Kenya (ABSA)

  • Market cap: Ksh61 billion
  • Industry: Financial services

Absa Bank Kenya provides a range of financial services in areas such as banking, investment management and money transfer. Absa also offers online and mobile money services. The company was previously called Barclays Bank Kenya.

It operates about 100 bank branches and 200 ATM locations across the country. Absa’s business is organised into consumer and corporate units.

Absa bank Kenya
The corporate unit offers financing, investment banking, insurance and advisory services.

The consumer banking unit offers individual bank accounts, personal loans, card facilities, and money transfer services. The corporate unit offers financing, investment banking, insurance and advisory services to corporations, non-profit organisations and government agencies.

Absa has a market cap of Ksh61 billion. Absa shares trade on the NSE under the “ABSA” ticker code.

6. KCB Group (KCB)

  • Market cap: Ksh60 billion
  • Industry: Financial services

KCB Group provides banking services to retail, corporate and government clients. Apart from its namesake banking operations, KCB Group also owns National Bank.

The group is one of Kenya’s bank operators with the widest regional footprints. In addition to its domestic market Kenya, KCB Group operates in Tanzania, Uganda, Rwanda, Burundi, the Congo, South Sudan and Ethiopia.

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The group’s retail banking division provides personal bank accounts, personal loans, and mortgage services. It also offers mobile money services. The corporate division provides credit facilities, investment management, insurance and other financial services to corporate clients, including government entities.

KCB Group has a market cap of Ksh59 billion. KCB Group shares trade on the NSE under the “KCB” ticker symbol.

7. Standard Chartered Bank Kenya (SCBK)

  • Market cap: Ksh53 billion
  • Industry: Financial services

Standard Chartered provides banking services in areas such as savings, lending and money transfer. It was the first foreign bank in Kenya, operating in the country since 1911.

Standard Chartered operates three major business segments. Its corporate and institutional banking division serves large corporations customers such as other banks and local and global institutions. Its commercial client unit serves medium and small businesses. Its retail segment primarily serves individual clients.

The bank operates through a network of two dozen bank branches and more than 100 ATM locations across the country.

Standard Chartered has a market cap of Ksh53 billion. Its shares trade on the NSE under the “SCBK” ticker symbol.

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8. Stanbic Holdings (SBIC)

  • Market cap: Ksh42 billion
  • Industry: Financial services

Stanbic Holdings is a financial services group. It provides banking, wealth management, insurance and securities trading and advisory services. The group operates in Kenya and South Sudan.

Stanbic Bank
Stanbic Bank consumer unit serves individual clients and includes special banking services for high-net worth people. (Photo: Stanbicbank.co.ke)

Stanbic operates through three major business divisions. Its corporate and investment banking unit serves large corporations and government customers. Its business and commercial unit serves median and small companies. Its consumer unit serves individual clients and includes special banking services for high-net worth people.

Stanbic has a market cap of Ksh42 billion. The group’s stock trades on the NSE under the “SBIC” ticker symbol.

9. British American Tobacco Kenya Plc (BAT)

  • Market cap: Ksh41 billion
  • Industry: Consumer goods

BAT Kenya sells tobacco products. It serves domestic and export markets. Its products include cigarettes, which it sells under brand names such as Dunhill, Pall Mall and Rothmans. The company also manufactures cigarettes on contract for other companies. In addition to traditional cigarettes, BAT Kenya also manufactures electronic cigarettes.

Aside from the cigarette business, BAT Kenya supplies tobacco to other companies. BAT Kenya sources its tobacco from a network for contracted farmers across the country.

BAT Kenya has a market cap of Ksh41 billion. Its stock trades on the NSE under the “BAT” ticker code.

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10. BK Group (BKG)

  • Market cap: Ksh32 billion
  • Industry: Financial services

BK Group is a Rwandan financial services company. It was previously called the Bank of Kigali. BK Group is the largest bank company in Rwanda. It operates more than 60 bank branches and about a similar number of ATM locations.

The group provides a range of financial services, including savings accounts, credit facilities and money transfer. It operates retail and corporate banking units.

BK Group has a market cap of Ksh32 billion. Its shares trade on the NSE under the “BKG” ticker symbol.

Conclusion

Safaricom, Equity Group and East African Breweries are the top three largest companies in Kenya. The list of the top companies in Kenya represents a range of industries, though the vast majority of them are in the financial services industry. 

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BENARD ADERA
BENARD ADERAhttp://www.businesstoday.co.ke
Benard Adera is a freelance writer covering financial topics. Profile picture attached. email: [email protected]
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