Kenya Equities Market Weekly Update – 28th February 2025

The Kenyan equities market recorded a mixed performance in the last trading week of February, with some indices gaining while others posted declines.

Equities Market Performance

• NSE 20: ⬆️ 2.6% (YTD: +11.7%)
• NSE 25: ⬆️ 0.8% (YTD: +4.0%)
• NSE 10: ⬆️ 0.4% (YTD: +3.0%)
• NASI: ⬇️ 0.5% (YTD: +5.4%)

Top Gainers & Losers

Top Gainers:

• BAT Kenya ⬆️ 4.1%
• Equity Group ⬆️ 3.6%
• Stanbic Holdings ⬆️ 2.9%

Top Losers:

• Safaricom ⬇️ 4.5%
• Co-operative Bank ⬇️ 0.9%

Key Market Updates

British American Tobacco (BAT) Kenya Plc FY’2024 Results

BAT Kenya posted a 19.5% decline in Profit After Tax (PAT) to Ksh 4.5B, down from Ksh 5.6B in FY’2023. The decline was attributed to:

• Increase in Cost of Sales by 4.4% to Ksh 18.4B (from Ksh 17.6B in FY’2023).
• Surge in Finance Costs by 954.6%, from a finance income of Ksh 0.1B to a finance loss of Ksh 0.8B.
• Slight revenue growth of 0.6% to Ksh 25.7B (from Ksh 25.6B in FY’2023).

Despite the decline in profitability, investors will be keen to see whether BAT will maintain its attractive dividend payout, a factor that could influence stock performance.

Bamburi Cement Trading Suspension on NSE

The Nairobi Securities Exchange (NSE) announced a trading suspension of Bamburi Cement shares, effective February 27, 2025, until May 9, 2025.

🔹 Reason for Suspension:

• Amsons Industries (K) Ltd. successfully acquired 96.5% of Bamburi Cement’s shares.
• The suspension allows Amsons to complete the squeeze-out process for acquiring the remaining 3.5% of outstanding shares.

Final Thoughts

The equities market continues to show mixed trends, with strong gains in certain large-cap stocks while others experience corrections. Investors should continue monitoring company earnings, corporate actions, and broader economic trends to make informed decisions.

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