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Top 10: Most valuable companies at the NSE

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Mirror, Mirror at the Nairobi Securities Exchange; who is the richest of them all?

Listed companies at the NSE have varying worth and Business Today undertook to come up with a list of the most valuable firms at the bourse.

Using data from the NSE Investors Handbook of 2017-2018 so as to approximate the stocks in issue for listed firms, and correlating with share prices from April 2018, here are our findings.

10. Diamond Trust Bank (DTB) – Ksh34.2 billion

Diamonds are forever. DTB is among the six banks on this list, approximated to be worth Ksh34.2 billion.

The lender has been listed at the bourse since 1972 and is an affiliate of the Aga Khan Fund for Economic Development.

DTB has over 120 branches across the East Africa region, spread through Kenya, Tanzania, Uganda and Burundi.

9. Bamburi Cement – Ksh42.8 billion

In previous years, Bamburi could have been expected to cement itself higher up in this list. However, headwinds in the construction industry mean the cement maker has lost some gains.

Fellow cement firm, ARM Cement has endured tough times, leading to administration and suspension of trading at the NSE.

Bamburi Cement, however, still remains the most valuable cement company in the country, with the other listed cement maker East Africa Portland worth around Ksh3 billion.

8. BAT Kenya – Ksh52.5 billion

British American Tobacco (BAT) Kenya is seen by many investors as a safe bet. Earlier this year, it excited the market moving huge volumes of shares. Investors anticipated a healthy dividend payout and at Ksh31.50, this is the highest dividend payout of 2019 so far.

The tobacco manufacturer was established in Kenya in 1907 and has been listed since 1967.

7. Barclays Group Kenya – Ksh64.6 billion

While the rebranding of Barclays to ABSA continues in earnest, the lender has made gains compared to previous years. Barclays has jumped into the Top 10 on the back of improving stock prices in recent months.

6. Standard Chartered – Ksh73.3 billion

Beyond being known for hosting the annual “Seeing is Believing” Marathon in Nairobi, StanChart is a fairly valuable company.

This year will be the lender’s 30th anniversary of being listed at the bourse. It has been in Kenya since 1911.

5. Co-operative Bank – Ksh81.8 billion

Founded in 1965, Co-op is recognised as the bank for co-operatives, especially those of farmers.

It is now 11 years since it went public. For 2018, the lender recorded a pre-tax profit of Ksh18.2 billion.

4. KCB – Ksh137 billion

Soon, Kenya Commercial Bank (KCB) could acquire National Bank of Kenya (NBK) and while this would increase its asset base, it remains to be seen what impact that will have on KCB’s overall worth.

For now, however, the largest lender in East Africa by asset value is among the top most valuable firms at the NSE at an approximate market capitalisation of Ksh137 billion.

In East Africa, KCB, which was founded in 1896, has presence in Kenya, Tanzania, South Sudan, Uganda, Rwanda and Burundi.

3. Equity Group – Ksh158 billion

In 1993, Equity was technically insolvent. It has since then grown to be one of the most recognised brands in Kenya.

With subsidiaries in Kenya, Uganda, South Sudan, Rwanda and Tanzania, the lender that began as a mortgage financier has grown in leaps and bounds to rival older and fellow banks.

It was formed in 1984, and recently announced that employees’ stake in the company would be increased.

2. EABL – Ksh173 billion

Leisure time for many is sometimes synonymous with alcohol. In that, East Africa Breweries Limited (EABL) has hit the jackpot as the leading alcohol beverage maker in the region has steered it to become the second most valuable company at the NSE.

1. Safaricom – Ksh1.1 trillion

The ‘Better Option’ emerges as the best when it comes to value worth among companies listed at the bourse.

As a giant telco, it boasts of over 30 million subscribers in Kenya and continues to be highly profitable mainly due to its mobile money payment innovation, M-Pesa.

With relatively wide coverage across the country, it is no wonder that the Bob Collymore-steered ship dominates in market capitalisation at the bourse. It is the only firm in Kenya to breach the trillion shilling mark.

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Mike Njoroge
Mike Njorogehttp://www.businesstoday.co.ke
Mike Njoroge is the founder of Daystar Oracle and FootballTriangle. He is passionate about news, religion and sports. He can be reached at: [email protected]
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