Investor Confidence Grows As Safaricom Gains And Bonds Sell Out

By Robai Ludenyi

Kenyan markets showed fresh energy as shares of Safaricom rallied strongly, while government bonds issued in Nairobi attracted more demand than expected.

On the equities side, Safaricom was the star performer. The telco’s share price climbed as investors rushed to buy into the company, signaling renewed confidence in its earnings outlook and long-term growth strategy. For many small investors in Kenya, Safaricom is more than just a stock  it is a name tied to mobile money, data services, and daily communication. So when the share price rises, it often lifts overall market mood.

The rally helped support activity at the Nairobi Securities Exchange (NSE), where Safaricom remains one of the most traded and influential counters. Because of its large market weight, any strong movement in Safaricom shares tends to push overall market indices up or down. This time, the upward movement injected optimism into the trading floor and among retail investors following the market from their phones.

At the same time, the bond market told its own story. Government bonds offered in Nairobi were oversubscribed, meaning investors applied for more than the amount on offer. This strong demand reflects continued appetite for relatively safe, fixed-income investments, especially from pension funds, banks, and institutional investors seeking stable returns.

The oversubscription shows that despite growing interest in shares, many investors are still keen on locking in steady income through bonds. High demand for these securities often signals confidence in the country’s ability to meet its debt obligations, while also highlighting the limited supply of attractive low risk investment options.

Together, the Safaricom rally and the bond oversubscription paint a picture of a market balancing growth and caution. On one hand, investors are chasing higher returns in equities. On the other, they are not abandoning the safety of government paper.

For everyday Kenyans watching their investments — whether through pension funds, SACCOs, or personal trading accounts — the message is clear: confidence is slowly building in both the stock and bond markets. It is a sign that liquidity is active, investor sentiment is improving, and capital is still flowing within the local financial system.

Read Also: Kenyan Government Offers KQ To Foreign Investors For Ksh 258 Billion