The International Finance Corporation (IFC), the World Bank’s private‑investment arm, confirmed it will take a 6.5% stake in Quickmart as a cornerstone investor in the retailer’s initial public offering.

IFC is paying KSh 1.94 billion (about USD 15 million) for 258.67 million shares, which represent roughly 13% of the total shares offered in the IPO.

The offering values Quickmart at KSh 30 billion, with the IPO size set at KSh 15 billion, making it one of the largest listings on the Nairobi Securities Exchange in recent years.

Quickmart recently paid shareholders a total dividend of KSh 1.65 billion, a payout ratio of 109%, and has pledged to distribute at least 80% of annual earnings going forward.

The IFC investment follows its exit from a 31.5% stake in rival chain Naivas Limited between 2020 and 2022, a transaction that generated a substantial profit for the institution.

Alongside the Quickmart deal, IFC is committing KSh 11.7 billion (USD 90 million) to the Airtel Money IPO on the London Stock Exchange.

Background on IFC’s Kenya retail involvement

The Quickmart transaction marks IFC’s return to Kenya’s supermarket sector after a four‑year hiatus following its divestment from Naivas.

Business Daily reports that IFC is banking on a return from Quickmart comparable to its earlier Naivas investment, citing the retailer’s expansion ambitions and strong dividend track record.