A new report has identified nine companies that rank highest in market valuation after Safaricom in Kenya.
Safaricom leads this list with their market valuation standing at Sh1.18 trillion, more than the combined capitalisation of the next nine largest companies at the NSE.
East African Breweries Limited (EABL) comes in as the second-largest listed firm with a market cap of Sh193 billion, an increase from the Sh170 billion mark it hit in 2017.
Equity bank also made its way in the list with a market valuation of Sh161 billion followed by KCB bank which stands at Sh140 billion.
[caption caption="Inside the Nairobi Securities Exchange (NSE)"]
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Co-operative Bank closed the Sh100 billion mark, emerging fifth with Sh101 billion, an improvement from Sh59.2 billion in 2017. It was followed by Kenya Airways whose market valuation is Sh92 billion.
BAT Kenya comes in seventh with its market valuation standing at Sh77 billion, a drop from the fourth position it occupied in 2017.
At number eight was Stanchart with Sh72 billion having moved from position six last year, and Bamburi coming in at position nine with a market valuation of Sh64 billion.
At number ten is Barclays bank which dropped from the ninth position with a valuation of Sh59 billion.
Analysts noted that there was an improvement with some of the institutions.
[caption caption="The Nairobi Securities Exchange (NSE)"]
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However, in 2017 they had noted there was a skewed distribution which did not help the market grow, with institutional investors being forced to look at a small pool of counters that they can trade sufficient volumes.
