Top 10 Most Valuable Companies in Kenya by Market Cap

Kenya’s economy continues to shine as a beacon of growth in East Africa, driven by a vibrant corporate landscape that spans telecommunications, banking, and consumer goods. The Nairobi Securities Exchange (NSE) has seen remarkable growth in 2025, with its total market capitalization soaring past KSh 2.3 trillion, fueled by strong performances from blue-chip companies and rising investor confidence. In this article, we dive into the top 10 most valuable companies in Kenya by market capitalization as of August 2025, exploring what makes these corporate giants tick, their contributions to the economy, and the trends shaping their success. From telecom titans to banking powerhouses, here’s a detailed look at Kenya’s corporate heavyweights.
1. Safaricom: The Telecom Titan (KSh 1.1 Trillion)
Safaricom remains the undisputed king of Kenya’s corporate scene, boasting a market capitalization of KSh 1.1 trillion. As the country’s largest telecommunications provider, Safaricom’s dominance is anchored by its extensive mobile network and the revolutionary M-Pesa platform, which processes billions of transactions annually. With over 47 million subscribers, the company has transformed how Kenyans access financial services, particularly through mobile money solutions like M-Shwari and Fuliza.

Key Drivers: Safaricom’s growth is fueled by its diversification into data services, enterprise solutions, and its recent expansion into Ethiopia, which contributed 10% to its overall growth in 2025. The company projects its Ethiopian operations to become profitable by 2027.
Financial Snapshot: In its 2024 full-year results, Safaricom reported a 10.8% increase in net income to KSh 69.8 billion, with dividends of KSh 48.08 billion distributed to shareholders.
Why It Matters: Safaricom’s ability to innovate and scale, coupled with its massive subscriber base, ensures it remains a cornerstone of Kenya’s digital economy.

The company’s stock, traded under the ticker SCOM, continues to attract both local and foreign investors, with its share price rallying to KSh 25.5 earlier this year, briefly pushing its market cap above the KSh 1 trillion mark.
2. Equity Group Holdings: Banking for the Masses (KSh 207 Billion)
Equity Group Holdings, with a market cap of KSh 207 billion, holds its position as Kenya’s second most valuable company. Known for its focus on financial inclusion, Equity has brought banking services to millions of previously unbanked Kenyans through its extensive network of over 350 branches and 53,151 agents.

Growth Factors: Equity’s digital platform, Equitel, has been a game-changer, offering mobile money and banking services that rival M-Pesa. Its regional presence in Uganda, Tanzania, Rwanda, South Sudan, and the Democratic Republic of Congo bolsters its market share.
Performance Highlights: In the first half of 2025, Equity reported a net profit of KSh 33 billion, driven by strong growth in its regional subsidiaries, particularly in the DRC.
Impact: Equity’s commitment to SMEs and low-income earners has made it a darling of investors seeking exposure to Kenya’s growing middle class.

Despite a year-to-date share price decline of 18.7%, Equity’s focus on digital innovation and regional expansion keeps it a formidable player.
3. KCB Group: The Banking Behemoth (KSh 175 Billion)
KCB Group, with a market cap of KSh 175 billion, is Kenya’s largest bank by assets, valued at approximately KSh 1.4 trillion in 2024. Operating in six countries, KCB offers a wide range of services, from retail banking to corporate solutions and mobile banking via KCB M-Pesa.

Strategic Moves: KCB’s acquisition of the National Bank of Kenya and investments in digital technologies have strengthened its regional footprint. The bank’s KCB Foundation supports entrepreneurship, healthcare, and education, enhancing its social impact.
Challenges: KCB’s share price has faced headwinds, dropping 48.7% in 2023, largely due to high non-performing loans (NPLs) at 19% of its loan book. However, recovery efforts have improved its NPL ratio to 17.4%.
Outlook: With a 69% net profit growth in Q1 2024, KCB remains a top performer on the NSE.

4. East African Breweries Limited (EABL): Brewing Success (KSh 163 Billion)
East African Breweries Limited (EABL), valued at KSh 163 billion, is a household name in Kenya’s beverage industry. A subsidiary of Diageo, EABL produces iconic brands like Tusker, Guinness, and Johnnie Walker, with a strong presence in Kenya, Uganda, and Tanzania.

Market Strength: EABL’s diverse portfolio, including non-alcoholic beverages like Malta Guinness, and its focus on sustainable packaging have solidified its market position.
Financials: The company reported revenues of $791,000 in 2023, reflecting its robust demand in the region.
Cultural Impact: EABL’s “Designated Driver” campaign promotes responsible drinking, resonating with Kenya’s socially conscious consumers.

EABL’s stock, traded under the ticker EABL, remains a stable investment, buoyed by strong brand loyalty and regional expansion.
5. Standard Chartered Bank Kenya: The Global Player (KSh 127 Billion)
Standard Chartered Bank Kenya, with a market cap of KSh 127 billion, is one of the oldest foreign banks in Kenya, operating since 1911. Part of the UK-based Standard Chartered PLC, it focuses on corporate clients and high-net-worth individuals.

Competitive Edge: Its global network gives it an advantage in handling international transactions, while its digital banking innovations have earned global awards.
Performance: StanChart recorded a decline in gross NPLs by 23.72% to KSh 17.2 billion in 2023, showcasing prudent risk management.
Market Position: With 24 branches and a focus on sustainability, StanChart remains a trusted name in Kenya’s banking sector.

6. Absa Bank Kenya: Innovating Banking (KSh 108 Billion)
Absa Bank Kenya, formerly Barclays Bank Kenya, holds a market cap of KSh 108 billion. Rebranded in 2020, Absa has invested heavily in digital platforms like Timiza, a mobile banking app offering loans and savings products.

Growth Strategy: Absa’s 107 branches and 200 ATMs ensure accessibility, while its focus on SMEs and corporate banking drives growth.
Market Share: With a 6.6% market share and assets of KSh 520.3 billion, Absa is a key player in Kenya’s financial sector.
Innovation: Absa’s customer-centric approach and tech-driven services make it a favorite among younger clients.

7. NCBA Group: The Digital Innovator (KSh 107 Billion)
NCBA Group, formed by the 2019 merger of NIC Bank and Commercial Bank of Africa, boasts a market cap of KSh 107 billion. Its partnership with Safaricom on M-Shwari has revolutionized mobile banking.

Digital Focus: NCBA’s Loop platform offers high savings rates (7% p.a.), attracting tech-savvy customers.
Financials: With assets of KSh 661.74 billion and a 9.2% market share, NCBA is one of Kenya’s fastest-growing banks.
Regional Reach: Operating in Kenya, Tanzania, Uganda, and Rwanda, NCBA serves over 40 million customers.

8. Co-operative Bank of Kenya: Serving the Community (KSh 101 Billion)
Co-operative Bank, with a market cap of KSh 101 billion, is a leader in serving co-operative societies and SMEs. Its MCoop Cash app has expanded its digital offerings.

Performance: Co-op Bank reported a net profit of KSh 23.2 billion in 2023, with assets of KSh 624.25 billion.
Network: With dozens of branches and a focus on financial inclusion, Co-op Bank is a trusted name for group savings and SACCOs.

9. Stanbic Holdings: The Corporate Specialist (KSh 73 Billion)
Stanbic Holdings, part of South Africa’s Standard Bank Group, has a market cap of KSh 73 billion. It excels in corporate and investment banking, with a focus on high-net-worth clients.

Growth: Stanbic’s loan book grew 33.5% to KSh 356.2 billion in 2023, driven by interest income from loans.
Stock Performance: Trading under SBIC, its share price rose 8.1% recently, reflecting investor confidence.

10. I&M Group: The Regional Contender (KSh 64 Billion)
I&M Group rounds out the top 10 with a market cap of KSh 64 billion. Operating in Kenya, Tanzania, Rwanda, and Mauritius, I&M serves individuals, SMEs, and corporates through 42 branches.

Strengths: I&M’s focus on tailored financial solutions and regional expansion drives its growth.
Market Position: As a smaller but agile player, I&M benefits from strong local and foreign investor support.

Trends Shaping Kenya’s Corporate Giants
The top 10 companies reflect Kenya’s dynamic economy, with telecommunications and banking dominating due to their scalability and innovation. Key trends include:

Digital Transformation: Companies like Safaricom, Equity, and NCBA are leveraging mobile platforms to reach underserved populations.
Regional Expansion: Equity, KCB, and NCBA are growing their footprints across East Africa, tapping into new markets.
Sustainability: EABL, KCB, and Safaricom are prioritizing eco-friendly practices, aligning with global ESG trends.

Conclusion
Kenya’s top 10 most valuable companies by market capitalization in 2025 showcase the country’s economic resilience and innovation. Safaricom’s trillion-shilling valuation sets a high bar, while banks like Equity, KCB, and NCBA drive financial inclusion through digital innovation. As the NSE continues to grow, these corporate giants are poised to shape Kenya’s economic future, attracting investors and fostering regional development. Keep an eye on these companies as they navigate challenges and seize opportunities in East Africa’s bustling markets.