Business & Markets · Stock market capitalisation · Kenya
Kenya’s stock market capitalisation rose to 16.8% of GDP in 2025.
16.8% of GDP
2025
Up 4.3 pp from 2024.
Updated 8 Oct 2026
In plain words
16.8% of GDP
What it is. Stock market capitalisation adds up the market value of all shares in domestic companies listed on the exchange and divides the total by GDP. Because it uses share prices, it rises and falls with investor mood as well as with the number of listed firms. It covers listed companies only, so private firms, bonds and bank lending sit outside it.
Higher is better. A higher figure is good because a deeper stock market gives firms another way to raise money and gives savers more to invest in. In January 2025 the figure was 16.8% of GDP, up from 12.5% of GDP a year earlier, a rise of 4.3 percentage points. Since 2009 the range runs from a low of 8.6% of GDP in 2023 to a high of 31.8% of GDP in 2010. The latest reading therefore sits in the lower half of that range, well above the 2023 low and far below the 2010 peak.
Why it matters. At 16.8% of GDP, listed companies are worth a modest share of the Kenyan economy, which leaves firms leaning on bank credit for most of their funding. The rise over the past year has lifted the value of shares held by households and pension savers. Listed companies have more room to raise equity if prices keep recovering towards the levels of 2010.
| Period | Stock market capitalisation · Kenya |
|---|---|
| 2009 | 25.9% of GDP |
| 2010 | 31.8% of GDP |
| 2011 | 21.8% of GDP |
| 2019 | 25% of GDP |
| 2020 | 21.3% of GDP |
| 2021 | 20.9% of GDP |
| 2022 | 14.1% of GDP |
| 2023 | 8.6% of GDP |
| 2024 | 12.5% of GDP |
| 2025 | 16.8% of GDP |
Source: World Bank, World Development Indicators (CC BY 4.0) · Licence: CC BY 4.0
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Strata-AF™ Data, Stock market capitalisation, Kenya, 2025; source World Bank, World Development Indicators (CC BY 4.0), retrieved 8 Oct 2026; https://data.strata-af.com/business/stock-market-capitalisation/kenya
Data insights · Worked out from the published figures
What this means
Working this out from the published figures…
Strata AI commentary is coming — reviewed, dated, and generated only from the figures on this page.
Methodology
Market capitalisation of listed domestic companies as a share of GDP. Unit: % of GDP.
Source: World Bank, World Development Indicators (series CM.MKT.LCAP.GD.ZS), retrieved through the World Bank API and published under CC BY 4.0. Updated annually; the World Bank's own source notes apply.