Top 10 Cheapest Shares to Buy in Kenya – Guide for Dividend Investors

Investing in low-priced dividend-paying stocks can be one of the smartest strategies for building wealth in Kenya’s stock market. For investors looking to maximize returns without spending a fortune per share, the Nairobi Securities Exchange (NSE) offers several opportunities.

In this guide, we have compiled the 10 cheapest shares to buy in Kenya as of August 2025, ranked from the lowest to highest share price. These companies not only have attractive valuations but also pay regular dividends—offering both income and potential capital appreciation.

List Of 10 cheapest shares to buy in Kenya

1. Kenya Reinsurance Corporation (KNRE)

• Share Price: KES 2.25
• Latest Dividend: KES 0.15 (FY-2024 Final, Paid August 2025)
• Dividend Yield: 6.82%
• P/E Ratio: 2.8

Kenya Reinsurance Corporation, better known as Kenya Re, tops the list as the cheapest dividend stock on the NSE. The company operates across Africa, the Middle East, and Asia, providing reinsurance services to insurance firms. Its low price-to-earnings ratio reflects strong profitability compared to its share price. Over the past few years, dividend growth has been steady, making it attractive for income-focused investors.

2. CIC Insurance Group (CIC)

• Share Price: KES 3.39
• Latest Dividend: KES 0.13 (FY-2024 First-and-Final, Paid June 2025)
• Dividend Yield: 3.52%

CIC Insurance Group operates in both general and life insurance segments within Kenya and the East African region. The dividend payout is modest, but consistency has been its strength. For investors seeking stable insurance sector exposure at a low entry price, CIC remains a dependable choice.

3. KenGen – Kenya Electricity Generating Company (KEGN)

• Share Price: KES 7.44
• Latest Dividend: KES 0.65 (FY-2024 Final, Paid February 2025)
• Dividend Yield: 8.90%

KenGen is Kenya’s largest electricity generator, producing over 70% of the country’s electricity. In 2024, it reported a 35% profit increase to KES 7 billion, enabling it to double its dividend payout. The company’s stable government backing and increasing demand for electricity position it as a high-yield growth stock.

4. Nairobi Securities Exchange (NSE)

• Share Price: KES 10.20
• Latest Dividend: KES 0.32 (FY-2024 First-and-Final, Paid July 2025)
• Dividend Yield: 3.15%

The NSE is the very platform where these shares are traded. While its dividend record is not as stable as some other companies, it benefits from higher trading volumes during bullish market conditions. Investors looking for exposure to Kenya’s financial markets infrastructure may find NSE stock appealing.

5. Liberty Kenya Holdings (LBTY)

• Share Price: KES 10.55
• Latest Dividend: KES 1.00 (Final) + KES 0.60 (Special), Paid August 2025
• Dividend Yield: 9.66%

Liberty Kenya stands out this year with both a regular dividend and a special dividend, rewarding shareholders handsomely. The company operates in life insurance and asset management. Its high yield is partly due to exceptional profits in the past year, making it one of the top income picks for 2025.

6. Co-operative Bank of Kenya (COOP)

• Share Price: KES 17.00
• Latest Dividend: KES 1.50 (FY-2024 Final, Paid June 2025)
• Dividend Yield: 9.06%

Co-op Bank is a leading financial institution with a wide customer base across Kenya. In 2024, it recorded record profits of KES 34.8 billion, allowing for a higher dividend payout. Its strong balance sheet and consistent dividend policy make it a core holding for many Kenyan investors.

7. Centum Investment Company (CTUM)

• Share Price: KES 11.80
• Latest Dividend: KES 0.32 (FY-2024 Final, Paid December 2024)
• Dividend Yield: 2.77%

Centum is Kenya’s largest listed investment firm, with diversified holdings in real estate, financial services, and manufacturing. While the dividend yield is lower compared to others on this list, Centum offers capital growth potential from its diverse investment portfolio.

8. Absa Bank Kenya (ABSA)

• Share Price: KES 19.90
• Latest Dividend: KES 1.75 (FY-2024 Final, Paid May 2025)
• Dividend Yield: 8.91%

Absa Bank Kenya, part of the Absa Group, remains one of the most reliable dividend payers in the Kenyan market. Its strong profitability, robust loan book, and growing digital banking presence support sustainable dividend growth.

9. TotalEnergies Marketing Kenya (TOTL)

• Share Price: KES 27.00
• Latest Dividend: KES 1.92 (FY-2024 First-and-Final, Paid July 2025)
• Dividend Yield: 7.01%

TotalEnergies Marketing Kenya operates fuel stations and petroleum distribution networks across the country. The company declared its highest-ever dividend in 2024, reflecting improved margins and operational efficiency. Rising energy demand in Kenya makes it a resilient cash-flow generator.

10. I&M Group (IMH)

• Share Price: KES 37.50
• Latest Dividend: KES 3.00 (Total – Interim & Final, Paid May 2025)
• Dividend Yield: 8.16%

I&M Group, a regional banking powerhouse, increased its dividend by 17.6% after posting a 21.9% net profit growth in 2024. Over the past decade, the bank has shown consistent dividend growth, making it a top choice for investors seeking both income and stability.

How to Choose the Cheapest Dividend Stock in Kenya

When selecting low-priced dividend stocks, investors should consider:

• Dividend Yield vs. Stability – High yields are attractive but check if they are sustainable.
• Payout Ratio – Lower ratios indicate room for future increases.
• Earnings Growth – Companies with rising profits are more likely to raise dividends.
• Sector Performance – Economic trends can impact certain industries more than others.

Final Thoughts – Cheapest Dividend Stocks in Kenya

The cheapest shares to buy in Kenya are not just about the low price; they combine affordability with consistent dividend payouts and potential for growth.

For income investors, picks like Kenya Re (KNRE), Co-op Bank (COOP), and Liberty Kenya (LBTY) offer some of the highest yields. For those seeking stability with moderate growth, Absa (ABSA) and I&M Group (IMH) stand out.

Always remember to align your investments with your risk appetite and long-term goals.