- The UK government, through its FCDO MOBILIST programme, has invested $15 million for a 13% stake in Kenyan retail chain Quick Mart’s IPO.
- This investment aims to help Quick Mart broaden ownership and drive disciplined growth in Kenya’s retail market.
- Quick Mart’s IPO will offer two billion ordinary shares—half its issued capital—at KES 7.50 per share on the Nairobi Securities Exchange.
- The offer is open until 30 October 2026, with trading set to begin on 12 November 2026, pending any schedule changes.
Reports show that the FCDO,of the Kenyan supermarket chain, Quick Mart, to the tune of US$15 million (KES 1.94 billion)
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“We welcome MOBILIST as an investment partner as we broaden QuickMart’s ownership
We have built QuickMart around a straightforward proposition: to make fresh food and everyday essentials accessible, run our stores efficiently and reinvest the cash the <a href="https://usglobalxpress.com/baba-ahmadou-danpullo-africas-discreet-business-magnate/” title=”Baba Ahmadou Danpullo: Africa’s discreet business magnate”>business generates in disciplined growth,” Peter Kang’iri, Group Chief Executive Officer of QuickMart, stated
“With MOBILIST’s support, our proposed listing will help to realise QuickMart’s ambition to create long-term shareholder value while expanding opportunities for our suppliers, creating jobs, impacting the economy, and bringing convenient, affordable shopping to more communities,” he added
The latest investment follows MOBILIST’s 2024 collaboration with the Nairobi Securities Exchange, which aimed to widen access to listed investment opportunities that support economic development
The partnership also seeks to encourage more Kenyan institutions, particularly pension funds, to participate in the country’s capital markets, as seen on AfricaBusinessCommunities
Quickmart’s IPO will put two billion existing ordinary shares on offer, equivalent to half of the retailer’s issued share capital
It is selling the shares at KES 7.50 apiece through the NSE, allowing members of the public to buy into one of Kenya’s major retail chains
The offer is due to close on 30 October 2026, while trading is expected to commence on the Nairobi Securities Exchange on 12 November 2026
Both dates remain subject to the offer’s terms and any official revisions to the schedule
Outside of the UK government’s investment, the Kenyan supermarket has also drawn in a subscription from the International Finance Corporation’s (IFC) of US$15 million