Quickmart announces plans to list on Nairobi Securities Exchange
The proposed NSE listing would create a wider public shareholder base for Quickmart while allowing its existing shareholder to realise part of its investment.
KENYA – Quickmart, one of Kenya’s leading modern grocery retailers, is preparing to sell 50% of its issued shares through an initial public offering (IPO) and list on the Nairobi Securities Exchange (NSE), opening the retailer to public investors after years of expansion.
The proposed transaction is an offer for sale rather than a capital raise. Quickmart will not issue new shares or receive proceeds from the transaction, with the funds going to Sokoni Retail Kenya (SRKL), the company’s current sole shareholder.
Under the proposed offer, SRKL plans to sell 2 billion ordinary shares, representing 50% of Quickmart’s issued ordinary share capital. The transaction may also include an over-allotment option of up to 15% of the offer shares, subject to the terms to be outlined in the Information Memorandum.
The offer remains subject to regulatory approvals and other applicable conditions and is expected to launch on or around September 30, 2026.
Peter Kang’iri, Group Chief Executive Officer of Quickmart, said the proposed listing represents 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.
He added that Quickmart had expanded its national footprint while investing in its stores, employees and technology, with continued focus on “price, convenience and freshness.”
Quickmart was founded in Nakuru in 2006 and subsequently expanded through the combination of Quickmart and Tumaini Self Service. Adenia Partners invested in Tumaini through Sokoni in 2018 and invested in Quickmart in 2019, after which the two businesses were combined under the Quickmart brand.
Quickmart currently operates 72 stores across 16 counties, including hypermarket, supermarket and express formats. The retailer recorded approximately five million customer transactions per month during the first six months of 2026 and has about 2.5 million Q-Points loyalty members.
For the year ended December 31, 2025, Quickmart generated revenue of KES50.4 billion (US$389.46M) and adjusted profit after tax of KES1.7 billion (US$13.13M). Revenue grew at a compound annual growth rate of 18.4% between FY2021 and FY2025, while first-half 2026 revenue reached KES27.5 billion (US$212.5M).
The company’s store network increased from 64 outlets at the end of 2025 to 68 by June 30, 2026, before four additional stores opened, taking the total to 72. Of these, 35 operate around the clock.
Expansion strategy
Quickmart’s 2026-2030 growth strategy includes continued store expansion, like-for-like sales growth, expansion of its online offering and delivery partnerships, category management and operating efficiency.
The company plans to open between 10 and 15 stores annually across urban, peri-urban, regional and coastal markets.
The proposed IPO would broaden Quickmart’s ownership base and create a public free float, while allowing SRKL to realise part of its investment following the retailer’s expansion and business transformation.
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