9 Best NSE and CMA-Approved Stockbrokers in Kenya [2024 Picks]

Choosing the right stockbroker is the first step towards safely investing in the stock market in Kenya.

In this guide, we will reveal the best stockbrokers in Kenya who are approved by the Nairobi Securities Exchange (NSE) and the Capital Markets Authority (CMA).

Let’s start with the basics…

Why Do You Need A StockBroker in Kenya?

There are many reasons why you might need a stockbroker. But essentially, as an investor, you will need to use the services of a stockbroker when you:

• Want to buy or sell securities such as stocks and bonds
• Need professional advice on how best to invest your money
• Can’t spare the time required for investing in the stock market
• Need market insights and recommendations
• Are looking for a hassle-free way to invest in the stock market

What Makes a Good Stock Broker?

When looking for a good stockbroker, there are several things that you should check before opening an account.

Here are some of them:

• Ask for recommendations from people you trust
• Make sure that the stockbroker is licensed by the Capital Markets Authority (CMA)
• Ensure that they have high ratings on both NSE and CMA websites
• Check how long they have been in business
• Look out for any negative reviews or comments about their services
• Ensure that they are insured
• Check if they have a physical office address.
• Ensure you understand all brokerage charges and commissions before opening an account with any broker
• Ensure that they offer 24/7 online support (that includes weekends and public holidays)

The Best NSE and CMA-Approved Stockbrokers in Kenya

• Suntra Investment Bank Ltd
• Dyer & Blair Investment Bank Ltd
• Kingdom Securities Ltd
• ABC Capital Ltd
• Old Mutual Securities Ltd
• Standard Investment Bank Ltd
• SBG Securities Ltd
• Faida Investment Bank Ltd
• KCB Capital
• Absa Securities Limited
• Equity Investment Bank Limited
• NCBA Investment Bank Limited
• Renaissance Capital (Kenya) Ltd
• Genghis Capital Ltd
• Sterling Capital Ltd

1. Suntra Investment Bank Ltd

Suntra is one of the top Financial Advisors in East Africa, with extensive expertise and understanding of the corporate bond market. The firm was instrumental in helping Barclay’s Bank raise KSh 3 billion through a successful bond issue.

In addition, the broker has helped several businesses access funding in the capital market by providing debt and equity issuance services. This has allowed Suntra to gain a better understanding of the capital markets, as well as their intricacies and suitable solutions that would meet client goals.

Services Offered By Suntra Investment Bank Ltd

• Stock Brokerage Services
• Portfolio Management
• Corporate Finance
• Share Transfers-Over the Counter Trading
• Online Share Trading
• Stock market research

Suntra Investment Bank Ltd Address and Contacts

2. Kingdom Securities Limited (KSL)

Kingdom Securities Limited (KSL) is a subsidiary of the Co-operative Bank of Kenya, Kenya’s third-biggest bank in terms of the asset base.

Co-op Bank now holds a 60% controlling stake in Bob Mathews and is officially known as Kingdom Securities Limited (KSL).

KSL was launched on June 11th, 2009, and is aided by a broad distribution network of 140 Co-op Bank branches throughout the country.

KSL is authorized by the Capital Markets Authority (CMA) with license no. 03/09 and is considered one of the best stockbrokers in Kenya.

Services Offered By Kingdom Securities Limited

• Brokerage services
• Online Share Trading
• Transfer Immobilisation
• Advisory Services

Kingdom Securities Limited Address and Contacts

3. Dyer & Blair Investment Bank Ltd

Dyer & Blair, a pioneer in the Kenyan capital market, has been an important player in the growth and transformation of Kenya’s local and regional capital markets since being a founding member of the Nairobi Securities Exchange (NSE).

It was also instrumental in developing the Uganda Securities Exchange (USE) in 1997 and the Rwanda Stock Exchange (RSE) in 2011.

Dyer & Blair was responsible for compiling the NSE 17 Share Index for nearly 25 years, from 1966 to 1990. After this, the responsibility fell to the NSE Secretariat after it had been fully formed.

Since then, the firm has been a huge player in the stock market and is now rated as one of the top stockbrokers in Kenya.

Services Offered By Dyer & Blair Investment Bank Ltd

• Equity Trading
• Fixed Income Capital Markets Trading
• Over the Counter Trading (OTC)
• CDSC Services
• Derivatives Trading

Dyer & Blair Investment Bank Ltd. Address and Contacts

4. ABC Capital Ltd

ABC Capital is a world-class stock brokerage firm in Kenya, providing investors in the East African region with various high-quality financial services such as investment banking and stockbroking.

As a Nairobi Securities Exchange (NSE) member since its inception in 1954, ABC has played a significant role in the success of one of Africa’s best stock markets.¹

In 2008, African Banking Corporation Limited (ABC) Bank acquired ABC Capital, a brokerage firm.² The brokerage is now leveraging on the bank’s professionalism and position in the market to become one of the best stockbrokers in Kenya.

Services Offered By ABC Capital

• Buying and selling securities
• Providing custodial brokerage services
• Clearing and settlement of trades
• Portfolio management
• Stock market research

ABC Capital Address and Contacts

5. Old Mutual Securities Ltd

The UAP Old Mutual Group is a financial services firm that comprises Faulu Microfinance Bank, UAP, and Old Mutual. The firm serves over 1.2 million customers in Kenya, Uganda, Tanzania, Rwanda, and South Sudan.

For decades, UAP and Old Mutual have played prominent roles in the financial services sector in East Africa. The two businesses have a long history in insurance, investment, asset management, and banking, and they are dedicated to assisting clients in reaching their financial objectives.

Old Mutual Securities is the Group’s department mainly dealing in security trading and brokerage services in Kenya.

Old Mutual Securities Address and Contacts

6. Standard Investment Bank Ltd

Standard Investment Bank is one of Kenya’s leading investment banks with over Ksh 750 million in shareholder funds. The bank has a solid track record of managing huge, complicated trades for local and foreign clients.

SIB has a diversified client base comprising governments, fund managers, businesses, financial institutions, high-net-worth individuals, and individual investors.

 Most recently, in December 2018, SIB was licensed as the first Money Manager-Dealer in Online Forex Trading in Kenya.³

The NSE-supported firm actively provides brokerage services and has been invariably lauded as one of the most trusted stockbrokers in Kenya.

Services Offered By Standard Investment Bank Ltd

• SIB Equities
• SIB Fixed Income
• SIB Research
• SIB Corporate Finance
• SIB Asset Management
• SIB Global Markets

Standard Investment Bank Address and Contacts

7. SBG Securities Ltd

SBG Securities Limited is a branch of Standard Bank Group that deals with securities trading. The brokerage firm has over twenty years of experience in the financial services industry and is considered one of the best brokers in Kenya.

SBG Securities provides brokerage and advisory services to individuals, corporate entities, and institutions within the region with specialization in Capital markets products viz Treasury Bills, Bonds, Stocks, and Foreign Exchange.

This is also one of the most credible Central Depository Agents (CDA) in Kenya that has been approved by NSE and CMA.

Services Offered By SBG Securities

• Account opening
• Settlement of shares bought and sold
• 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 by NSE, CMA, and CDSC)
• Transmission of shares in case of death/succession

SBG Securities Address and Contacts

8. Faida Investment Bank Ltd

Faida Investment Bank Limited is one of the pioneer licensed Capital Market Dealers in Kenya. Its key operations are Stockbroking, Corporate Finance advisory services, and Investment Banking.

At Faida, you have experts who provide superior investment management, stockbroking, and financial advisory services, including efficient custody service ensuring that your securities and cash is safeguarded and monitored.

FIB is a member of the Nairobi Securities Exchange and the Rwanda Stock Exchange, where it is licensed to provide its clients with several brokerage services.

Services Offered By Faida Investment Bank

• Brokerage Services i.e, the buying and selling of shares (stocks) of publicly quoted companies 
• Markets and Institutional Research
• Managed Futures
• Corporate Finance Advisory

Faida Investment Bank Address and Contacts

9. KCB Capital

KCB Capital is a subsidiary of KCB Group, one of the biggest banking groups in East Africa with over 40 years of history. It offers online trading on more than 80 instruments listed on the NSE.

The brokerage arm also provides strategic and financial advice to meet the growing and dynamic needs of institutional and individual clients, as well as governments

KCB Capital was established in 2014 and by leveraging the relationships and network established by its parent company, it was able to quickly grow into one of the best stock brokers in Kenya.

It was fully licensed by the Capital Markets Authority (CMA) the same year and subsequently acquired trading rights on the Nairobi Securities Exchange (NSE) in September.⁴

Services Offered By KCB Capital

• Equity trading
• Fixed income trading
• CDS Account Opening
• Settlement of shares bought and sold
• Immobilization of shares held in certificate form
• Transfer of a CDS account to KCB Capital
• Pledge of shares in favour of banks and financial institutions
• Release of pledged shares
• Private transfer of shares
• Transmission of shares in case of death/succession

KCB Capital Address and Contacts

Best Stockbrokers in Kenya – FAQs

1. Business Day, NSE emerges Africa’s best performing stock exchange in January
2. The Observer, Capital Finance-ABC talks end in merger
3. Business Daily, SIB hires Bank of Africa executive to head online forex trading desk
4. Private Banker International, KCB Capital receives license from CMA to run as investment bank