Stock exchanges
Number of listed companies
Domestic market capitalization
million US$

Nairobi Securities Exchange

Name Nairobi Securities Exchange (NSE)
Country Kenya
Number of listed companies 61
Domestic market capitalization 22915.78 million US$
SSE Partner Exchange Yes
Has annual sustainability report Yes

ESG reporting required as a listing rule Yes

  • In its ESG Guidance, published in 2021, NSE requires ESG reporting for listed companies.

Has written guidance on ESG reporting Yes

Offers ESG related training Yes

Nairobi Securities Exchange co-hosted TCFD training in March 2023, in collaboration with the SSE, IFC and CDP. (source)

Market covered by sustainability-related index No

Has sustainability bond listing segment No

  • However, published draft document of The Kenya Green Bond Programme along with the IFC and several other organizations, outlining a way forward for green bonds in Kenya. (Source).

Has SME listing platform Yes

Women on boards mandatory minimum rule No

Additional information
  • Part of the UN Global Compact.
  • Signed the Code of Ethics for Business in Kenya.
  • Promotes the Fire Award, a prestigious award in East Africa for businesses that prioritize integrated ESG reporting in financial reports.
  • Participated in “Ring the Bell for Gender Equality” in 2016.

Organizational model of stock exchange
  • Public listed company. Demutualised. June 2014.

Regulatory bodies

Regulatory model
  • The NSE is subject to regulation by the CMA. However, from September 2016, the Exchange will become a Limited Self-Regulatory Organisation.

About the stock exchange

Location: Nairobi, Kenya.

  • Nairobi Securities Exchange (NSE) is the principal bourse in Kenya, offering an automated platform for the listing and trading of multiple securities. Going forward, the Exchange will avail new products including; Exchange Traded Funds (ETFs), Financial and Commodity Derivatives and Carbon Credits. The NSE is publicly traded and is the second self-listed exchange in Africa. (Source).

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.


Criteria Considered

Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.