Dangote IPO, KCB Bond & Other Rare Investments to Consider Before 2026 Ends

As the year draws to a close, Kenyan investors have several new investment opportunities to consider.

Some of these opportunities are still awaiting regulatory approval, while others have already opened to investors.

Here are four major investment opportunities to look out for before the end of 2026.

1. Dangote Petroleum Refinery IPO

The Dangote Petroleum Refinery IPO could soon give Kenyan investors access to one of Africa’s largest oil refineries through the NSE, with a proposed minimum investment of about Ksh490.

Investment bank Renaissance Capital is behind the proposed Global Depository Receipts (GDRs), which would represent Dangote shares listed on Nigeria’s NGX. Stanbic Bank would serve as the custodian, while Kenyan investors would buy and sell the GDRs through licensed local brokers and settle transactions in Kenyan shillings through the CDSC.

The proposed local offer is expected to run from October 5 to October 13, subject to regulatory approval, with the GDRs scheduled to list on the NSE from December 8. Investors would be able to purchase a minimum of 10 shares at approximately Ksh49.25 each.

The wider Dangote IPO involves 4.1 billion shares, representing about a 3% stake in the refinery, and is targeting approximately Ksh202 billion in proceeds. 

Currently, Kenyan investors can access the IPO through international platforms such as Mystocks.africa.

However, the proposed NSE investment route faces a delay. As of Friday, the Capital Markets Authority (CMA) had not approved the GDRs. The regulator said Renaissance Capital and other promoters must address pending issues before approval can be granted, putting the proposed October 5–13 local offer timeline under review.

Also Read: Everything to Know About Dangote’s Ksh2 Trillion Lamu Refinery

2. KCB Group's Ksh100 Billion Bond

KCB Group is also preparing to issue the first tranche of its five-year Ksh300 billion Medium-Term Note (MTN) programme.

The first tranche is expected to be worth approximately Ksh100 billion and is scheduled for issuance in November.

The bond will finance eligible green, blue and social projects. These include areas such as renewable energy, green buildings and clean transportation.

However, investors will have to wait for more details before deciding whether to participate. The returns, minimum investment amount and application process have not yet been made public, as the issuance is still undergoing regulatory approvals.

3. Banking ETF

Kenyan investors could soon have another way to invest in the banking sector without having to buy shares in individual banks.

The upcoming Wall Street Africa (WSA) Banking Index ETF has already received conditional approval for listing on the NSE.

An Exchange Traded Fund (ETF) is a listed investment product that tracks the performance of a particular index or a basket of assets. Instead of buying shares in each company separately, an investor can buy units in the ETF and gain exposure to the assets it tracks.

The WSA Banking Index ETF is expected to give investors exposure to Kenyan listed banks as a bundle.

The banking sector is already a major component of the NSE, with listed banks accounting for Ksh1.85 trillion, or 43.5%, of the exchange's market capitalisation.

The ETF could therefore provide investors with a different way of gaining exposure to the banking sector through a single listed investment product.

Also Read: All You Need to Know About ETF Investments in Kenya

4. Quickmart Shares

Quickmart Supermarket has also announced plans to list its shares on the NSE, potentially giving members of the public an opportunity to own part of the retail chain.

Under the proposal, 2 billion existing ordinary shares, representing 50% of the company, will be offered for sale by its sole shareholder, Sokoni Retail Kenya Limited.

Unlike an IPO where a company typically issues new shares to raise capital, the proposed Quickmart transaction would involve the sale of existing shares held by the current shareholder.

However, investors will have to wait for further details before they can participate.

The company has not yet announced the issue date or the initial share price for the proposed listing.