If you’re just getting started in stock investing, or just seeking to get a feel for the Nairobi Securities Exchange (NSE), you might be looking to start finishing from the shallow ends of the pool. For that reason, you may want to explore the best stocks to buy in Kenya cheaply.
Investors shopping for the cheapest stocks to buy in Kenya are spoilt for choice. There are more than half a dozen NSE stocks trading under Ksh2 a share.
The best NSE stocks to buy now may not necessarily be those with the lowest share price. But cheap stocks can allow you to start investing with little amounts of money as you learn the market and sharpen your investing skills.
If you’re looking for the cheapest shares to buy now, check out the list below:
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Kenya Re-Insurance Corporation (KNRE) – Ksh1.72
Kenya Re-Insurance offers reinsurance services, meaning that it provides insurance coverage to other insurance companies. The company invests the money it makes in real estate assets. It owns land in buildings. Its property portfolio includes famous office complexes such as Kenya Re Towers, Anniversary Towers, Reinsurance Plaza Nairobi and Reinsurance Plaza Kisumu.
Kenya Re-Insurance is profitable and pays dividends. The company’s shares trade on the NSE under the “KNRE” ticker symbol. Kenya Re-Insurance share price stood at Ksh1.72 at the close of trading on 4th October 2023.
Considering that the minimum number of shares you can buy in Kenya is 100 shares, you could start investing in Kenya Re-Insurance shares with as little as Ksh172. The company’s share price has moved between Ksh1.50 and Ksh2.10 over the past year. As a result, the current share price represents an 18% discount to the stock’s recent peak.
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Kenya Power and Lighting Company (KPLC) – Ksh1.42
Kenya Power is in the business of selling electricity. It distributes electricity to homes, businesses and factors, and charges the customers for consumption.
Kenya Power shares trade on the NSE under the “KPLC” ticker code. KPLC stock price stood at Ksh1.42 at the close of business on 4th October. At that price, you could start investing in Kenya Power shares with as little as Ksh142.
Over the past year, Kenya Power share price has moved in the band of Ksh1.35 – Ksh2.01. At the current share price, KPLC stock trades nearly 30% below its recent peak.
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Eveready East Africa (EVRD) – Ksh1.31
Eveready manufactures batteries and light products, including lanterns and light bulbs. The company sells its products to diverse groups of customers across the East African region.
Eveready share price stood at Ksh1.31 at the close of trading on October 4. At that price, you could start buying Eveready stock with a modest capital of only Ksh131.
The share price of the battery company has fluctuated in the range of Ksh0.60 – Ksh1.88 over the past year. Eveready stock is among the best-performing NSE stocks so far in the year. The current Eveready share price shows the stock is now trading at a 30% discount to its recent high.
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Flame Tree Group Holdings (FTGH) – Ksh1.26
Flame Tree is the company that manufactures Roto and Jojo tanks. It also makes other plastic products. Moreover, Flame Tree is in the cosmetics business, where it sells lotions and nail and haircare products under brands such as Zoe and Alana.
On the NSE, Flame Tree stock trades under the “FTGH” ticker code.
Flame Tree share price was at Ksh1.26 at the close of trading on October 4. It means that you could start investing in Flame Tree shares with as little as Ksh126 at that price.
Over the past year, Flame Tree share price has fluctuated between Ksh0.90 and Ksh1.54. The current price shows the stock of the Roto tanks maker is trading 18% below its recent peak.
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East Africa Cables (CABL) – Ksh0.85
As its name implies, East Africa Cables manufactures cables for domestic and industrial applications. For example, it sells the cables used for electrical wiring in buildings and for electricity distribution and transmission lines over long distances. Moreover, the company supplies fibre optic and other communications cables.
East Africa Cables shares are listed on the NSE under the “CABL” ticker symbol.
CABL stock price was at Ksh0.85 at the close of trading on October 4. Considering that you’re only required to purchase a minimum of 100 shares, at that price you could start investing in East Africa Cables shares with as little as Ksh85.
East Africa Cables share price has moved in the range Ksh0.72 – Ksh1.18 over the past year. That shows the current price represents a nearly 30% discount to the stock’s recent high.
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Trans-Century (TCL) – Ksh0.52
Trans-Century runs a heavily diversified business. In one area, it competes with East Africa Cables in the business of selling cables for electrical wiring and electricity transmission. In other areas, the company provides logistics and engineering services, including installation of weighing bridges.
On the NSE, Trans-Century stock trades under the “TCL” ticker code.
Trans-Century share price stood at Ksh0.52 at the close of trading on October 4. The stock has traded in the range of Ksh0.45 to Ksh1.35 over the past year. As a result, the current Trans-Century share price shows the stock is trading more than 60% below its recent peak price.
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Home Afrika (HAFR) – Ksh0.34
Home Afrika is in the property development business. It develops residential and commercial buildings in Kenya. Its properties include the Migaa Golf Community, Mitini Scapes and Morningside Office Park.
Home Afrika stock is listed under the “HAFR” ticker code.
Home Afrika share price stood at Ksh0.34 at the close of trading on October 4. The stock has traded in the band of Ksh0.27 to Ksh0.41 over the past year. The current Home Afrika share price indicates the stock has dropped 17% from its recent high.
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Uchumi Supermarkets (UCHM) – Ksh0.21
As its name hints, Uchumi Supermarkets operates supermarkets. As a result, it competes with the likes of Naivas, Quickmart and Carrefour.
Uchumi stock trades under the “UCHM” ticker symbol on the NSE.
Uchumi share price was at Ksh0.21 at the close of trading on October 4. The supermarket stock has traded in the range of Ksh0.17 to Ksh0.29 over the past year. The current Uchumi share price indicates the stock has retreated about 27% over its recent peak price.
Finally, the cheapest stocks to buy on the NSE represent a diverse range of industries. While cheap stocks can help you get your stock investing plan off the ground quickly, it helps to assess your options diligently to pick the stocks that best align with your investment goal.
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