Equity turnover at the Nairobi Securities Exchange (NSE) reached KSh395 billion in the nine months to September 2026, more than double the KSh145 billion recorded for the whole of 2025.

The surge was driven by new listings, higher share prices and a large Safaricom block trade that alone accounted for about 51.7% of total turnover.

Industry data show broker commissions rose 73% to KSh2.76 billion in the first half of 2026, reflecting the broader market recovery.

A theoretical maximum commission calculation using the 1.78% rate on both sides of transactions suggests the turnover could generate up to KSh14 billion in fees, though actual earnings depend on negotiated rates and deal structures.

The NSE’s own revenue more than doubled to KSh1.2 billion in the six months to June 2026, with the equity transaction levy contributing about 64% of that figure.

Investor numbers grew sharply, with 333,043 new participants added in the nine‑month period, bringing the total to 2.36 million – a three‑fold increase over the same period in 2025.

Beyond equities, bond market turnover reached KSh2.54 trillion by September, offering additional fee opportunities for brokers and investment banks.

Recent listings such as Kenya Pipeline Company’s IPO, Family Bank’s introduction, and Quickmart’s public offer have expanded the range of securities and services available to market intermediaries.