Quickmart Announces Plans to List 50% Stake on NSE

Quickmart PLC has announced plans to list its shares on the Main Investment Market Segment of the Nairobi Securities Exchange (NSE), in a move that will allow eligible Kenyan investors to own part of the retail chain.

According to the notice shared on September 23 2026, the proposed listing will involve the sale of existing shares held by Sokoni Retail Kenya Limited (SRKL), which currently owns the entire issued share capital of Quickmart.

The offer remains subject to regulatory approvals and other applicable conditions. Under the proposed transaction, SRKL plans to sell 2 billion ordinary shares, representing 50% of Quickmart’s issued ordinary share capital.

The offer will also include an over-allotment option of up to 15% of the offer shares, subject to the terms to be provided in the Information Memorandum.

Quickmart will not issue new shares as part of the offer and will not receive any proceeds from the sale. The company said it expects to continue funding its expansion and other growth plans mainly through internally generated cash flows.

The offer is currently expected to launch on or around September 30, 2026, subject to the required approvals.

Quickmart Operates 72 Stores

Founded in Nakuru in 2006, Quickmart has grown into one of Kenya’s major modern grocery retailers. The company currently operates 72 stores across 16 counties, including Hypermarket, Supermarket and Express formats.

Quickmart recorded approximately 5 million customer transactions per month during the first six months of 2026. It also had about 2.5 million Q-Points loyalty members.

Loyalty members accounted for approximately 74% of the company’s sales during FY2025 and the first half of 2026.

The retailer’s store network increased from 64 outlets at the end of December 2025 to 68 by June 30, 2026. Four additional stores have since opened, bringing the total to 72. Of the 72 stores, 35 operate on a 24-hour basis.

Ksh 50.4 Billion Revenue Recorded

For the year ended December 31, 2025, Quickmart recorded Ksh50.4 billion in revenue and an adjusted profit after tax of Ksh1.7 billion.

Its revenue grew at a compound annual growth rate of 18.4% between FY2021 and FY2025. The company recorded Ksh 27.3 billion in revenue during the first six months of 2026.

Quickmart said its growth strategy for 2026 to 2030 will focus on expanding its store network, increasing like-for-like sales, strengthening its online offering and working with delivery platforms.

The company also plans to improve category management and operating efficiency while maintaining disciplined capital allocation.

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Retailer Targets More Stores

Quickmart plans to open 10 to 15 new stores every year in Kenya, targeting urban, peri-urban, regional and coastal markets.

The company said it is targeting more than 100 stores in Kenya over the medium term as it continues to expand its national footprint.

Peter Kang’iri, Group Chief Executive Officer of Quickmart, described the proposed listing as an important milestone for the retailer.

“The proposed Listing marks an important milestone in Quickmart’s journey. Over the past two decades, we have built one of Kenya’s leading modern grocery retailers, serving millions of customers across 16 counties.”

Kang’iri said the company had expanded its national footprint while investing in its stores, employees and technology.

He added that Quickmart had remained focused on what customers value, including price, convenience and freshness.

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Listing to Broaden Ownership

The company said the proposed offer will broaden its ownership base by creating a public free float. Kang’iri said the NSE listing would give Kenyans an opportunity to own a stake in a business they already interact with.

“Listing on the NSE will give Kenyans the opportunity to own a share of a business they already shop in, while raising our profile with suppliers and partners as we continue to deliver on our…”

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Photo of customers purchasing items from Quickmart supermarket in Nairobi
PHOTO/File