Kenya’s banking sector continues to dominate the Nairobi
Securities Exchange (NSE), with lenders taking eight of the top 10 spots in the
ranking of the most valuable companies as of August 2025.
Safaricom still remains at the top with a value of Ksh1.1
trillion. Among the banks in the top 10 are Equity, KCB, and Co-operative Bank.
Below, we break down the top 10 most valuable listed
companies on the NSE.
1. Safaricom — Ksh1.1 trillion
Safaricom remains the undisputed giant of the NSE, with a market capitalization of Ksh1.1 trillion. This makes it not just Kenya’s most valuable company, but also one of the largest in East Africa.
The telco’s dominance is anchored on its massive customer
base and the M-Pesa platform, which is used to send money and buying of goods.
In 2015, the market capitalization of the telco was Ksh604.99 billion.
Currently, a share of Safaricom goes for Ksh28.25.
2. Equity Group — Ksh207.55 billion
Equity Group is the most valuable bank on the NSE, standing
at Ksh207.55 billion. In 2015, the market capitalization of the bank was
Ksh148.11 billion
The bank has leveraged mobile banking and cross-border
operations to grow. The bank has units operating in Rwanda and Uganda. A share
at Equity Bank as of August 2025 was trading at Ksh55.
3. KCB Group — Ksh173.53 billion
KCB ranks third overall with a market value of Ksh173.53
billion. Similar to Equity Bank, the bank also has operations in the Democratic
Republic of Congo (DRC) and Tanzania, among others.
Since 2015, its market capitalization has also grown from
140.67, which was recorded in 2015. Currently, a share trades at Ksh54.
4. East African Breweries Ltd (EABL) — Ksh172.39 billion
EABL is the leading non-financial company after Safaricom in
the top 10, valued at Ksh172.39 billion. The brewer is behind brands such as
Tusker.
In 2015, its market capitalization was Ksh236.44 billion, with a valuation drop of Ksh64 billion.
5. Standard Chartered Bank (StanChart) — Ksh119.12
billion
StanChart follows closely behind with a valuation of
Ksh119.12 billion. The bank’s reputation for stability, coupled with its strong
international backing, positions it as one of the most resilient companies on
the NSE.
In 2015, its valuation was Ksh82.24 billion. A share in the
company goes for Ksh315.25.
6. Absa Bank Kenya — Ksh108.36 billion
Formerly Barclays Bank Kenya, Absa Bank's market
capitalization is valued at Ksh108.36 billion. The transition has
reinvigorated its market performance, earning Absa a place among the most
valuable firms on the NSE.
In 2015, its market capitalization was Ksh75.77 billion.
This translates to a growth of 26.79 billion. A share of the bank is traded at
Ksh19.95.
7. NCBA Group — Ksh102.56 billion
NCBA, valued at Ksh102.56 billion, has risen steadily since
the 2019 merger of NIC Bank and CBA. The bank is best known for its pioneering
role in mobile lending through M-Shwari.
As of August 22, a share at NCBA was trading at Ksh62.25.
8. Co-operative Bank — Ksh101.80 billion
With a valuation of Ksh101.80 billion, Co-operative Bank
rounds off the cluster of major Kenyan lenders dominating the top 10. The
bank’s large customer base has made it one of the most profitable institutions
in the country.
In 2015, it had a market capitalization of Ksh95.83.
Currently, a share at the banking institution is Ksh17.35.
9. Stanbic Holdings — Ksh72.64 billion
Stanbic is valued at Ksh72.64 billion, making it another
bank topping in the sector. In 2015, its market capitalization was Ksh37.75.
A share of the banking institution is sold at Ksh183.75.
Backed by South Africa’s Standard Bank Group, Stanbic enjoys
robust support for growth and regional expansion.
10. I&M Holdings — Ksh66.47 billion
Closing the top 10 list is I&M Holdings, with a market
capitalization of Ksh66.47 billion. The bank has established itself as a solid
mid-tier lender with a growing regional footprint.
In 2015, its market capitalization was Ksh45.12. A share of
the company trades at Ksh38.2.