Kenyan supermarket chain Quickmart has secured a Sh1.94 billion investment from a United Kingdom government-backed programme, strengthening its planned share sale ahead of its expected listing on the Nairobi Securities Exchange (NSE) next month.
The investment, worth US$15 million, will give the UK government’s MOBILIST programme a 6.5 percent stake in Quickmart after it purchases 260 million shares through the retailer’s ongoing initial public offering (IPO).
The United Kingdom’s Foreign, Commonwealth and Development Office (FCDO) announced the investment as Quickmart seeks to raise Sh15 billion by selling half of its issued shares to investors. The offer values the supermarket chain at approximately Sh30 billion.
MOBILIST’s commitment makes it another major institutional investor backing the share sale, following a similar investment commitment from the International Finance Corporation (IFC), the World Bank’s private-sector investment arm. The IFC has conditionally committed to purchasing shares worth Sh1.94 billion, subject to approval by its board.
The participation of the two international institutions could help attract more investors to the offer by demonstrating confidence in Quickmart’s business and growth prospects.
Quickmart Chief Executive Officer Peter Kang’iri welcomed the UK-backed programme, saying the partnership would help the retailer broaden its ownership and create long-term value for shareholders.
“With MOBILIST’s support, our proposed listing will help to realise QuickMart’s ambition to create long-term shareholder value while expanding opportunities for our suppliers, creating jobs, impacting the economy, and bringing convenient, affordable shopping to more communities,” Kang’iri said.
The supermarket operates 72 stores across 16 counties, making it Kenya’s second-largest retail chain by store count and turnover, behind Naivas.
Quickmart reported a 33 percent increase in net profit to Sh1.51 billion for the year ended December 2025. Its revenue also grew by 9.3 percent to Sh50.43 billion during the period, reflecting continued growth in its retail operations.
The retailer paid shareholders dividends worth Sh1.65 billion and plans to distribute at least 80 percent of its earnings to shareholders in the coming years, subject to its dividend policy and financial performance.
The ongoing IPO involves the sale of existing shares held through Sokoni Retail Kenya Limited, the investment vehicle representing current shareholders, including private equity firm Adenia Partners and the supermarket’s founders. Quickmart itself will not issue new shares under the offer.
The share offer opened on October 5 and is scheduled to close on October 30, 2026. Trading on the NSE is expected to begin on November 12, subject to the offer conditions and any changes to the timetable.
The listing will give Kenyan and foreign investors an opportunity to own shares in one of the country’s leading supermarket businesses as Quickmart seeks to expand its shareholder base and strengthen its position in the competitive retail market.