Stockbrokers in Kenya are earning significantly more from share trading as activity at the Nairobi Securities Exchange (NSE) continues to rise, with commissions reaching an estimated Sh14 billion in the nine months to September 2026.
Data from the Capital Markets Authority (CMA) shows that shares worth Sh395 billion changed hands during the period. This is more than double the Sh145 billion recorded in the entire 2025 financial year, signalling a sharp recovery in activity at the bourse.
The increase in trading has been supported by stronger investor participation and new companies joining the market, including Kenya Pipeline Company and Family Bank. More than 11.4 billion shares were traded in the first nine months of the year.
Stockbrokers earn commissions of up to 1.78 per cent of transaction values, while the NSE charges a 0.12 per cent levy on share trades. Brokerage fees can fall to as low as 1.12 per cent for high-value transactions.
Based on the maximum brokerage rate applied to both the buying and selling sides, brokers’ estimated commissions rose from Sh3.64 billion in the comparable period last year to Sh14 billion this year. The calculation includes earnings from processing share transactions.
The market’s value also crossed the Sh4 trillion marks for the first time, reaching Sh4.12 trillion at the end of September. Trading in bonds added to the growth, with turnover in the debt market reaching Sh2.54 trillion.
The NSE reported a 476 per cent increase in equity turnover during the first six months of 2026, when trading reached Sh322 billion. A major transaction involving 6.01 billion Safaricom shares, valued at Sh204.3 billion, contributed substantially to the increase. The deal followed the government’s sale of a 15 per cent stake in Safaricom to South Africa’s Vodacom.
Even without that transaction, share trading remained more than twice as high as before. The NSE doubled its income to Sh1.2 billion in the six months to June, compared with Sh511.5 million a year earlier. Revenue from its equity transaction levy increased to Sh770.5 million from Sh133.8 million.
Stockbrokers and investment banks also reported stronger earnings, with combined income rising to Sh9.88 billion in the first half of 2026 from Sh3.7 billion a year earlier. Brokerage commissions alone increased by 73 per cent to Sh2.76 billion.
The renewed activity follows years of weak trading that had reduced brokers’ earnings. New listings, renewed investor interest and the return of initial public offerings are now creating fresh opportunities for market intermediaries.