NAIROBI, Kenya, Mar 28 – The Nairobi Securities Exchange (NSE) net profit rose by 500 percent to Sh116.3 million in 2024, buoyed by an increase in equity transaction levy and interest’ income.
In 2023, NSE profit after tax stood at Sh18.4 million.
“This growth is attributed to an increase in equity transaction levy by 20% to settle at Kshs. 253.6 million in 2024 from Kshs. 211.1 million reported in 2023,” NSE announced in a statement.
“In addition, bond transaction levy increased by over 100% to Kshs. 169.9 million in 2024 from Kshs. 64.4 million reported in 2023. Interest income increased from Kshs. 120.9 million in 2023 to Kshs. 147 million in 2024.”
However, its total expenses rose by 13 percent to Sh673 million from Sh596 million in the review period.
NSE’s total investable funds stood at Sh1 billion, up from Sh850 million in 2023, inclusive of the regulatory restricted funds amounting to Sh292.6 million.
“Return on assets and return on equity improved from 0.9% and 1% respectively in 2023 to 5.4% and 5.9% in 2024.”
“This was mainly driven by the impact of the weakening of the Kenya shilling on foreign currency denominated expenses in the first half of the year and cost of market support activities,” it added.
As a result, the Board of Directors has recommended payment of a first and final dividend of Sh0.32 per share, an improvement from Sh0.16 per share last year.
