The number of teenage investors holding shares at the Nairobi Securities Exchange (NSE) has more than doubled in nine months, pointing to their growing participation as a rally in share prices and new listings revive interest in the stock market.
Data from the Capital Markets Authority (CMA) shows that junior equity investors-those aged below 18 years- rose to 497 in September from 236 at the end of December 2025, a 110.6 percent increase.
The number was also 2.4 times the 207 recorded in September last year and nearly three times the 175 reported in September 2023, reflecting a gradual expansion in the category that has gathered pace this year.
The teens own shares estimated at Sh120 million, accounting for 0.003 percent of the Sh4 trillion stock market.
The junior investors have also made an entry into the corporate bond market, with seven holding accounts in this category up from four in March. There were no such holdings in the prior six years.
Minors can invest at the NSE through junior Central Depository System (CDS) accounts opened and operated by parents or guardians until they reach adulthood, allowing them to own listed shares from an early age.
Experts say investing has become increasingly popular among young people, driven by the emergence of mobile apps that charge little to no commission and the abundance of financial content available online.
A survey by the World Economic Forum covering 13 countries, including the US, UK, Brazil, China and India, showed that nearly a third of Generation Z have started investing by the time they reach early adulthood, more than any other generation at the same age.
Thirty percent of Gen Z – those aged between 18 and 27 – began investing in capital markets at university age compared with 15 percent of millennials, and 5 percent of baby boomers, according to the poll, which surveyed 13,000 people.
In Kenya, the increase in junior accounts coincides with a strong performance, where NSE returns have averaged over 33 percent this year, making equities the best-performing investment class. Returns on bank deposits were averaging 6.94 percent at the end of September, while Treasury bills are fetching under 10 percent.
The rally has improved the appeal of equities at a time when the exchange is also attracting new listings and a wider pool of investors.
The broader investor base grew by 333,043 in the nine months to September, taking the number of NSE investors to 2.36 million. This was more than three times the 98,063 added in a similar period last year and almost double the 174,400 recorded in the whole of 2025.
The junior category, however, remains a small part of the market. Its shareholding accounted for just 0.003 percent of total equity holdings at the end of September, unchanged from the previous quarter.
The figures suggest that while more junior investors are opening accounts or entering the market, their collective financial exposure remains marginal compared with that of established investors.
Local corporate investors held 71.367 percent of equity investments at the end of September, while local individual investors accounted for 11.434 percent. Foreign corporate investors held 12.305 percent.
The rise in investor numbers came as the exchange recorded a rise in market value, with capitalisation crossing the Sh4 trillion mark for the first time during the quarter.
The market’s revival has coincided with the return of major listings after a prolonged drought, including the March initial public offering of Kenya Pipeline Company and the June listing of Family Bank.
The new listings and the entry of new investors at the bourse coincided with the period when the market capitalisation-the combined value of investor shares- climbed to Sh4.12 trillion in September, up from Sh2.94 trillion at the end of 2025.
The CMA attributed the quarter’s performance to growing confidence and resilience in the capital markets, noting that new investment products could broaden participation and deepen the market.
The NSE has been on a bullish run since 2024 after snapping a prolonged bear run that had drained investor confidence in the market.