The Lower Eastern Times Opening The Third Eye
The United Kingdom government has committed Sh1.94 billion to Quickmart’s initial public offering (IPO), accounting for approximately 13 per cent of the retailer’s Sh15 billion share offer ahead of its planned listing on the Nairobi Securities Exchange (NSE).
The investment has been channelled through the Foreign, Commonwealth and Development Office’s MOBILIST programme, which helps businesses access capital through public markets.
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The UK government’s commitment comes after the International Finance Corporation (IFC), the World Bank’s private sector investment arm, announced a separate conditional commitment of up to Sh1.94 billion, subject to approval by its board.
Quickmart currently operates 72 outlets across 16 counties and recorded revenue of Sh50.4 billion in 2025.
Chief Executive Officer Peter Kang’iri said the planned listing would expand the retailer’s ownership base and provide an opportunity to support its future growth.
He welcomed MOBILIST as an investment partner, noting that the company intended to channel cash generated from its operations back into expanding the business.
The IPO involves the sale of two billion existing ordinary shares, equivalent to 50 per cent of Quickmart’s issued share capital, at an offer price of Sh7.50 per share.
The shares are being sold by Sokoni Retail Kenya Limited, meaning the transaction will transfer ownership of existing shares rather than raise new capital through the issuance of additional shares by Quickmart.
MOBILIST’s investment is part of its broader collaboration with the NSE, established in 2024, to widen access to investment opportunities and encourage greater participation by Kenyan institutional investors, including pension funds.
Earlier this year, the programme invested $9 million in the listing of Africa Logistics Properties’ Industrial Real Estate Investment Trust. It also committed approximately Sh1.2 billion to the Spearhead Africa Infrastructure Fund, which raised Sh3.4 billion to finance infrastructure development projects.
The Quickmart IPO is scheduled to close at 5pm on October 30, 2026, with trading expected to commence on the NSE on November 12, subject to the offer conditions and any revisions to the timetable.
The proposed listing is expected to give investors an opportunity to acquire a stake in one of Kenya’s major supermarket chains while broadening the retailer’s shareholder base.
