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Already, the Capital Markets Authority (CMA) has flagged the dominance of five companies — including Safaricom — in the 65-stock Nairobi bourse as a big risk, with the performance of their shares dictating whether the market goes up or down on any given day.
Safaricom share has gained 10.17 percent or Sh3 from October 6 to close trading at Sh32.95, adding Sh120 billion on its market value to take it to Sh1. 32 trillion.
The gain comes in a period when other stocks have shed Sh19.7 billion, cementing Safaricom’s dominance at the Nairobi bourse from 55.94 per cent on October 6.
Safaricom, Equity Bank Group, East Africa Breweries Limited , KCB Group and Co-operative Bank have always accounted for more than 75 per cent of the total investor wealth at the NSE.
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