Kenya’s financial markets over the years have birthed a number of stock brokerage and investment companies that have risen to become leaders in the industry. These financial institutions have positioned themselves as the most preferred destinations for investors looking to diversify their portfolios.
However, while there exists numerous stock brokers in Kenya, some may not be registered with and regulated by the Capital Markets Authority (CMA). Others, lag behind in terms of service delivery and performance when ranked against competitors.
In this article, WoK takes a look at some of the top stock brokers in Kenya.
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Dyer & Blair Investment Bank
The Jimnah Mbaru-owned bank is one of the best stock brokers in Kenya and the region. It provides local and foreign investors access to the listed stocks. Its operations are handled by highly qualified sales and trading teams.
Dyer & Blair controls a significant market share through their institutional investor base and retail investor base, which is among the largest in East Africa. It executes transactions on the fixed income capital markets on behalf of its clients trading in both corporate and government issues.
The investment bank is a licensed dealer in corporate and government bonds with highly experienced sales and trading teams.
“We offer our clientele the option of taking part in the primary issuance and secondary trading of the following: Government bonds, Treasury bills (T-Bills), and Corporate bonds,” Dyer & Blair says on its website.
It also facilitates off-exchange trading of financial instruments such as stocks and bonds directly between two parties through a dealer network as opposed to a centralized exchange.
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Dyer & Blair is a registered Central Depository Agent (CDA) for the Central Depository & Settlement Corporation(CDSC) and is authorized to facilitate all CDSC processes including :
- Account Opening(personal,joint,group,corporate and nominee accounts)
- Settlement of shares bought and sold (on a T+3 settlement period)
- Immobilization of shares held in certificate form
- Pledge of shares in favour of banks and financial institutions
- Release of pledged shares
- Private transfer of shares (subject to approval of NSE and CDSC)
- Transmission of shares in case of death/succession
Drummond Investment Bank
Francis Drummond and Company Limited (FD) is listed by the Nairobi Securities Exchange (NSE) as one of the best stock brokers in Kenya. The specialized stock brokerage service provider is a pioneer Member of the NSE and has been in existence since 1949. It is licensed by the Capital Markets Authority and it is also an Authorized Central Depository Agent.
The firm is a Member of the Kenya Association of Stockbrokers and Investment Banks (KASIB), a trading participant at Nairobi Securities Exchange (NSE) and an Authorised Central Depository Agent of the Central Depository & Settlement Corporation Limited (CDSC).
Francis Drummond and Company Limited has established a solid reputation in its long existence as a trusted, dependable and innovative investment partner. It has played a leading role in the metamorphosis of the capital market in Kenya and the wider East African region by being involved in the following projects:-
- Establishment of the Nairobi Securities Exchange.
- Sponsoring broker for listing of several Companies in the NSE Co-sponsoring broker for the Uchumi Supermarkets Rights Issue
- Establishment of the Dar Es Salaam Stock Exchange
- Syndication in local projects such as Longonot Place
- Co-sponsoring broker of the Nairobi Securities Exchange (NSE) IPO.
KCB Capital Group
The investment company is a subsidiary of Kenya Commercial Bank (KCB) Group. It was licensed by CMA in October 2014 to offer a wide range of corporate finance services, including;
- Equity and Debt Capital markets
- Structured Finance
- Mergers & Acquisitions
- Private wealth management
- Project Advisory services.
KCB Capital Group is revered for its expertise and wide range of experience. The firm has played a crucial role in many of Kenya’s significant IPOs and joint ventures.
Standard Investment Bank
Founded in 1995, the company has a major focus in investment Banking, securities trading, and investment management. The firm has since grown into one of the most reputable financial entities in the country.
Standard Investment Bank is one of Kenya’s largest indigenous Investment Bank with shareholders’ funds at above Ksh750 million, and has a proven track record executing large, complex transactions on behalf of both local and foreign clients.
It has a substantial and diversified client base that includes governments, fund managers, corporations, financial institutions, high-net-worth individuals and retail investors. The firm holds over Ksh230 Million in Assets under Management.
In December 2018, SIB was licensed as the first Money Manager-Dealer in Online Forex Trading in Kenya.
SIB is a member of the NSE, and an authorized Central Depository Agent of the CDSC, a member of the Kenya Association of Stockbrokers and Investment Banks (KASIB). It is also registered with Foreign Account Tax Compliance Act (FATCA), Global Intermediary Identification Number (GIIN), as well as The Global Legal Entity Identifier Foundation (GLEIF).
NCBA Investment Bank
NCBA Investment Bank is the wholly-owned investment banking subsidiary of NCBA Group PLC, created to offer financial solutions cutting across advisory, investments, and brokerage services.
The financial entity offers investment banking solutions; wealth management solutions, equities and fixed income trading, and advisory and capital raising services.
NCBA Investment Bank also offers ideal collective investment schemes for the short-term investor who needs access to their funds at will. It also offers online share trading through the NCBA Mobile App and other diverse options for investors to manage their accounts.
The lender boasts one of the leading stock brokerage and investments arms in the country, providing quality services in various financial investments including shares, bonds, and mutual funds.
The Bank is a registered member of the NSE and is regulated by the Central Bank of Kenya. It provides quality services to its clientele through a well versed and experienced team.
AIB-AXYS Africa Ltd
AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market (Shares trading in Kenya).
The financial institution leverages talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
AIB-AXYS Africa forms part of AXYS Group which is based in Mauritius with subsidiaries in Switzerland, UAE and Hong Kong. The group has more than two decades of specialist experience in Financial services. Its core services comprise of:
Asset financing & Deposit taking
AIB-AXYS Africa Ltd is a member of the NSE, CMA and is regulated by CBK.