Executive Summary Kapchorua Tea (NSE: KAPC) is a small, illiquid Kenyan tea producer that enjoyed a sharp rebound in HY2026 earnings after a weak FY2025. Revenue in FY2025 was flat at KES 2.22 billion, but net profit plunged ~55% to KES 181.2 million (EPS KES 23.16). By contrast, HY2026 (Sept. 2025) delivered KES 95.2 m profit on KES 829.9 m sales (EPS KES 12.17), up 5× thanks to cost cuts and a KES 39.4 m non-cash biological-asset gain. Cash flow from operations has been ver

Executive Summary BOC Kenya is a niche supplier of industrial and medical gases in East Africa, leveraged to both healthcare (defensive) and industrial demand. In FY2025 it delivered strong growth – Revenue +18.5% to KES 1.427bn, Net Profit +48.4% to KES 314.0m (EPS KES 16.08) – driven by post-pandemic medical gas de mand and engineering projects. The Board proposes a total dividend of KES 12.85/share (80% payout). However, the stock now yields only ~7.3% (KES12.85/176) at ~K

The Kenyan financial landscape in May 2026 presents a complex picture. On one hand, the Nairobi Securities Exchange (NSE) continues to show pockets of strength, with market capitalization rising to KSh 3,476.91 billion in early May. On the other, the global environment is fraught with uncertainty—the US-Iran conflict, volatile commodity prices, and shifting monetary policy are creating headwinds for emerging markets. For the Kenyan investor, the key question is no longer just