The International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, has committed about KSh1.94 billion ($15 million) to Quickmart’s KSh15 billion initial public offering (IPO) in Kenya.
The investment will give IFC an estimated 6.45 percent stake in Quickmart after the supermarket is listed on the Nairobi Securities Exchange (NSE), making the development finance institution a cornerstone investor in the offer. The commitment is subject to approval by IFC’s board.
The investment represents about 12.9 percent of the IPO shares being offered to investors.
Quickmart valued at KSh30 billion
The IPO involves the sale of two billion existing shares at KSh7.50 each, representing 50 percent of Quickmart’s issued share capital.
The offer values the supermarket chain at about KSh30 billion. Quickmart itself will not receive proceeds from the transaction because the shares are being sold by existing shareholders through Sokoni Retail Kenya Limited.
The offer opened on October 5 and is scheduled to close on October 30, with Quickmart expected to begin trading on the NSE on November 12, subject to the required conditions being met.
IFC investment strengthens investor participation
IFC’s commitment comes as Quickmart seeks to broaden its ownership base through the IPO.
The offer is open to Kenyan investors, investors from other East African Community member states and eligible foreign investors, subject to the applicable requirements.
The allocation includes shares for Kenyan retail investors, Kenyan institutions, East African Community investors and foreign investors, alongside IFC’s cornerstone commitment.
IFC’s participation does not constitute a recommendation of the investment. The development finance institution has said investors should make their own assessment of the offer.
Quickmart expands its retail footprint
Quickmart was founded in Nakuru in 2006 and later merged with Tumaini Supermarket in 2020.
The retailer has grown into Kenya’s second-largest supermarket chain by store count and turnover, operating 72 stores across 16 counties. About 35 of its outlets operate around the clock.
The company reported revenue of about KSh50.4 billion for the year ended December 2025, while adjusted profit after tax stood at approximately KSh1.7 billion.
Revenue has also continued to grow, reaching KSh27.3 billion in the first half of 2026.
IPO provides partial exit for existing owners
The offering gives Quickmart’s existing shareholders an opportunity to sell part of their holdings while retaining significant ownership in the company.
Private equity firm Adenia Partners, which invested in Tumaini in 2018 and Quickmart in 2019 before the businesses were merged, is among the shareholders selling shares through the IPO.
Following the offer, existing shareholders are expected to retain a substantial interest in Quickmart, while some of their remaining shares will be subject to a 24-month lock-in arrangement.
The listing is also significant for Kenya’s capital market because it would make Quickmart only the second listed supermarket in the country, after Uchumi.
Quickmart targets continued growth
The company plans to continue expanding its retail network while increasing its presence in Kenya’s growing formal retail market.
Quickmart has also indicated plans for a dividend payout ratio of at least 80 percent of annual profit after tax, with dividends expected to be paid twice a year. The first payment covering the second half of 2026 is expected in the first half of 2027.
The IPO therefore gives investors an opportunity to participate in one of Kenya’s expanding supermarket chains while providing existing shareholders with a partial exit route.
SEO Title: IFC Takes 6.5% Stake in Quickmart Through KSh15bn IPO
Meta Description: IFC has committed KSh1.94bn to Quickmart’s KSh15bn IPO, securing a 6.45% stake as the Kenyan supermarket prepares for NSE listing.
