84-786: The Nairobi Securities Exchange ( NSE ) was established in 1954 as the Nairobi Stock Exchange , based in Nairobi the capital of Kenya . It was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya . The exchange had 66 listed companies in February 2021. The Nairobi Stock Exchange was established in 1954 in Nairobi , the capital of Kenya . It
168-524: A city-county . The county is entirely urban. It had only one local council, Nairobi City Council which was replaced by Nairobi City County after the new constitution was effected in March 2013. Nairobi County has 17 constituencies. Constituency name may differ from division name, such that Starehe Constituency is equal to Central Division, Lang'ata Constituency to Kibera division, and Kamukunji Constituency to Pumwani Division in terms of boundaries. Nairobi
252-631: A demutualisation committee to spearhead the process of demutualisation. A demutualisation consultant ( Ernst and Young ) was appointed to advise on the process. In September 2006 live trading on the automated trading systems of the Nairobi Stock Exchange was implemented. The ATS was sourced from[Millennium Information Technologies (MIT) of Colombo, Sri Lanka , who are also the suppliers of the Central Depository System (CDS). MIT have also supplied similar solutions to
336-627: A nine-day general strike in the city. Nairobi remained the capital of Kenya after independence, and its continued rapid growth put pressure on the city's infrastructure with power cuts and water shortages becoming a common occurrence. On 11 September 1973, the Kenyatta International Conference Centre KICC was open to the public. The 28-storey building at the time was designed by the Norwegian architect Karl Henrik Nøstvik and Kenyan David Mutiso. It
420-507: A campaign by Nobel Peace Prize winner Wangari Maathai . Central Park is adjacent to Uhuru Park, and includes a memorial for Jomo Kenyatta , the first president of Kenya, and the Moi Monument, built in 1988 to commemorate the second president's first decade in power. Other notable open spaces include Jeevanjee Gardens , City Park, 7 August Memorial Park , and Nairobi Arboretum. The colonial 1948 Master Plan for Nairobi still acts as
504-526: A cathedral worthy of faith and country; museums and of art; theatres and public offices. And it is fair to say that the Government and the Municipality have already bravely tackled the problem and that a town-plan ambitious enough to turn Nairobi into a thing of beauty has been slowly worked out, and much has already been done. But until that plan has borne fruit, Nairobi must remain what she was then,
588-557: A cup of coffee. Because these firms were engaged in other areas of specialization, the need for association did not arise. In 1951, an estate agent named of Francis Drummond established the first professional stock broking firm. He also approached the finance minister of Kenya, Sir Ernest Vasey, and impressed upon him the idea of setting up a stock exchange in East Africa. The two approached London Stock Exchange officials in July 1953 and
672-480: A former Kenyan Independence politician and assassination victim. On 9 November 2012, President Mwai Kibaki opened the KES 31 billion Thika Superhighway. This mega-project of Kenya started in 2009 and ended in 2011. It involved expanding the four-lane carriageway to eight lanes, building underpasses, providing interchanges at roundabouts, erecting flyovers and building underpasses to ease congestion. The 50.4-kilometre road
756-895: A hub. Nairobi has not been left behind by the FinTech phenomenon that has taken over worldwide. It has produced a couple of tech firms like Craft Silicon, Kangai Technologies, Jambo Pay and Hostraha Limited Archived 16 November 2022 at the Wayback Machine . which have been in the forefront of technology, innovation and cloud based computing services. Their products are widely used and have considerable market share presence within Kenya and outside its borders. Goods manufactured in Nairobi include clothing, textiles, building materials, processed foods , beverages, and cigarettes. Several foreign companies have factories based in and around
840-760: A list of current members, see 12th Parliament of Kenya#Members Prior to the 2013 elections , the Jubilee Alliance consisted of The National Alliance , United Republican Party , and the National Rainbow Coalition . After the results were announced, Jubilee made post-election agreements with the New Ford Kenya , Alliance Party of Kenya , Chama Cha Uzalendo , People's Democratic Party, Ford People , Kenya African National Union , and United Democratic Forum . Reports indicate that two independents, NARC-Kenya , and one member of
924-479: A majority for the first time. This growth caused planning issues, described by Thorntorn White Archived 22 October 2020 at the Wayback Machine and his planning team as the "Nairobi Problem". In February 1926, colonial officer Eric Dutton passed through Nairobi on his way to Mount Kenya , and said of the city: Maybe one day Nairobi will be laid out with tarred roads, with avenues of flowering trees, flanked by noble buildings; with open spaces and stately squares;
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#17327723637401008-400: A member of ANNA. In April 2002 CMA announced the approval of the new NSE trading and settlement rules. The amount for block trades was revised upwards from Kshs. 3.0 million to between KSh.50 – 200 million/=. The block trade rules now applied to trade values above KSh.50 million/= but less than KSh.200 million/=. Lastly, the brokerage commissions’ regime was liberalized. July 2002 saw
1092-746: A member of the Financial Information Services Division (FISD) of the Software and Information Industry Association (SIIA) in March 2012. In May 2013, the NSE moved to the Exchange, 55 Westlands Road, Westlands, Nairobi. On 27 June 2014, The Capital Markets Authority proved the listing of the NSE stock through an IPO and subsequently self-list its shares on the Main Investment Market Segment. With
1176-654: A milestone by uploading all government bonds on the ATS. In July 2011, the Nairobi Stock Exchange Limited, changed its name to the Nairobi Securities Exchange Limited. The change reflected the NSE's strategic plan to become a full service securities exchange supporting trading, clearing and settlement of equities, debt, derivatives and other associated instruments. In the same year, the equity settlement cycle moved from
1260-414: A new international and domestic passenger terminal building, the airport's first dedicated cargo and freight terminal, new taxiways, associated aprons, internal roads, car parks, police and fire stations, a State Pavilion, airfield and roadway lighting, fire hydrant system, water, electrical, telecommunications and sewage systems, a dual carriageway passenger access road, security, drainage and the building of
1344-514: A rail depot on the Uganda - Kenya Railway. It was favoured by the authorities as an ideal resting place due to its high elevation , temperate climate , and adequate water supply. The town quickly grew to replace Mombasa as the capital of Kenya in 1907. After independence in 1963, Nairobi became the capital of the Republic of Kenya . During Kenya's early period, the city became a centre for
1428-638: A slatternly creature, unfit to queen it over so lovely a country. After World War II , continuous expansion of the city angered both the indigenous Maasai and Kikuyu . This led to the Mau Mau Uprising in the 1950s, and the Lancaster House Conferences , which initiated a transition to Kenyan independence in 1963. In the spring of 1950, the East African Trades Union Congress (EAUTC) led
1512-662: A stake in the airline and the Government of Kenya reduced its stake from 74% to 23%. The Kenya Airways Privatization team was awarded the World Bank Award for Excellence for 1996 for being a model success story in the divestiture of state-owned enterprises. In 1998 the government expanded the scope for foreign investment by introducing incentives for capital markets growth including the setting up of tax‐free Venture Capital Funds, removal of Capital Gains Tax on insurance companies' investments, allowance of beneficial ownership by foreigners in local stockbrokers and fund managers and
1596-544: Is Uhuru Park . The park borders the central business district and the neighbourhood Upper Hill. Uhuru ( Freedom in Swahili ) Park is a centre for outdoor speeches, services, and rallies. The park was to be built over by former President Daniel arap Moi , who wanted the 62-storey headquarters of his party, the Kenya African National Union , situated in the park. However, the park was saved following
1680-407: Is also being built which will link Naivasha to the existing route and also the Uganda border. On 11 August 2020, Nairobi County Assembly Speaker Beatrice Elachi resigned. On 21 December 2020, recently elected Nairobi County Assembly Speaker Benson Mutura was sworn in as acting Nairobi Governor four days after the previous Nairobi Governor Mike Sonko was impeached and removed from office. At
1764-452: Is claimed by the Kenyan government to have a population of 185,777. However, non-governmental sources generally estimate the slum to have a population of 500,000 to 1,000,000, depending on what areas are defined as comprising Kibera. Nairobi has many parks and open spaces throughout the city. Much of the city has dense tree-cover and plenty of green spaces. The most famous park in Nairobi
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#17327723637401848-660: Is commemorated by many English place-names. Most lower-middle and upper middle income neighbourhoods are located in the north-central areas such as Highridge, Parklands, Ngara, Pangani, and areas to the southwest and southeast of the metropolitan area near the Jomo Kenyatta International Airport. The most notable ones include Avenue Park, Fedha, Pipeline, Donholm, Greenfields, Nyayo, Taasia, Baraka, Nairobi West, Madaraka, Siwaka, South B, South C, Mugoya, Riverbank, Hazina, Buru Buru, Uhuru, Harambee Civil Servants', Akiba, Kimathi, Pioneer, and Koma Rock to
1932-713: Is commonly referred to as 'The Green City in the Sun'. Nairobi is home of the Kenyan Parliament Buildings and hosts thousands of Kenyan businesses and key international companies and organisations, including the United Nations Environment Programme (UN Environment) and the United Nations Office at Nairobi (UNON). Nairobi is an established hub for business and culture. The Nairobi Securities Exchange (NSE)
2016-533: Is divided into 17 constituencies and 85 wards , mostly named after residential estates. Kibera Division, for example, includes Kibera (Kenya's largest slum) as well as affluent estates of Karen and Langata . The Nairobi GPO (General Post Office) Postal code is 00100 Nairobi is home to the Nairobi Securities Exchange (NSE), one of Africa's largest stock exchanges . The NSE was officially recognised as an overseas stock exchange by
2100-681: Is one of the largest stock exchanges in Africa and the second-oldest exchange on the continent. It is Africa's fourth-largest stock exchange in terms of trading volume, capable of making 10 million trades a day. It also contains the Nairobi National Park . Nairobi joined the UNESCO Global Network of Learning Cities in 2010. Nairobi was founded in 1899 by colonial authorities in British East Africa , as
2184-706: Is one of the two Houses of the Parliament of Kenya . Between 1966 and 2013, it served as a unicameral house. In 2013 ( 11th Parliament ), it became the lower house when the Senate was reestablished. It has a total of 349 seats: 290 elected from the constituencies , 47 women elected from the counties and 12 nominated representatives. The Speaker of the National Assembly of Kenya serves as an ex officio member . The High Court of Kenya ordered lawmakers to introduce gender quotas , or face dissolution in
2268-502: Is situated between the cities of Kampala and Mombasa. As Nairobi is adjacent to the eastern edge of the Rift Valley , minor earthquakes and tremors occasionally occur. The Ngong Hills , located to the west of the city, are the most prominent geographical feature of the Nairobi area. Mount Kenya is situated north of Nairobi, and Mount Kilimanjaro is towards the south-east. The Nairobi River and its tributaries traverse through
2352-403: Is situated close to the equator, the differences between the seasons are minimal. The seasons are referred to as the wet season and dry season . The timing of sunrise and sunset varies little throughout the year for the same reason. Nairobi is divided into a series of constituencies with each being represented by members of Parliament in the National Assembly. The initial constituencies before
2436-523: Is the only building within the city with a helipad that is open to the public. Of the buildings built in the Seventies, the KICC was the most eco-friendly and most environmentally conscious structure; its main frame was constructed with locally available materials gravel, sand, cement and wood, and it had wide open spaces which allowed for natural aeration and natural lighting. Cuboids made up the plenary hall,
2520-547: The Colombo Stock Exchange and the Stock Exchange of Mauritius . The NSE ATS solution was customized to uphold the spirit of the open outcry trading rules in an automated environment. In the same breadth, trading hours increased from two (10:00 am – 12:00 pm) to three (10:00 am – 1:00 pm). Other innovations included the removal of the block trades board and introduction of
2604-498: The London Stock Exchange in 1953. The exchange is Africa's fourth largest in terms of trading volumes, and fifth largest in terms of Market Capitalization as a percentage of GDP. Nairobi is the regional headquarters of several international companies and organisations. In 2007, General Electric , Young & Rubicam , Google , Coca-Cola , IBM Services , and Cisco Systems relocated their African headquarters to
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2688-473: The coffee , tea and sisal industries. The city lies in the south central part of Kenya, at an elevation of 1,795 metres (5,889 ft). The site of Nairobi was originally a swamp land occupied by a pastoralist people, the Maasai , the sedentary Akamba People , as well as the agriculturalist Kikuyu people . The name Nairobi itself comes from the Maasai expression meaning 'cool waters', referring to
2772-424: The 1980s. The City of Nairobi enjoys the status of a full administrative county . Initially, Nairobi was one of the eight provinces in Kenya before 2013. The Nairobi province differed in several ways from other Kenyan regions. Nairobi Province was not divided into "districts" until 2007, when three districts were created. In 2010, along with the new constitution, Nairobi was renamed a county and consolidated into
2856-591: The 2010 constitution which led to the county electoral boundaries being redrawn were: Makadara, Kamukunji, Starehe, Langata , Dagoretti, Westlands , Kasarani, and Embakasi . The new electoral boundaries after this were revised to Embakasi North, Embakasi South, Embakasi Central, Embakasi East, Embakasi West, Makadara, Kamukunji, Starehe, Mathare, Westlands, Dagoretti North, Dagoretti South, Langata, Kibra, Ruaraka, Roysambu and Kasarani. The main administrative divisions of Nairobi are Central, Dagoretti, Embakasi , Kasarani, Kibera , Makadara, Pumwani, and Westlands . Most of
2940-545: The Broker Back Office system commenced operations, which facilitates internet trading. In November 2011 the FTSE NSE Kenya and FTSE NSE Kenya 25 Indices were launched, after NSE consulted local asset owners and fund managers, focusing on diverse domestic investment in East Africa. In March 2012 the delayed index values of both new indices were made available on the NSE website www.nse.co.ke. The NSE became
3024-803: The Central Depository and Settlement Corporation (CDSC) was done in August 2002. The shareholders consisted of the Nairobi Stock Exchange (20%), the Association of Kenya Stockbrokers (18%), the CMA Investor Compensation Fund (7%), and 9 institutional investors through the Capital Markets Challenge Fund (50%) who collectively invested in the CDSC. The CDSC being the legal entity that owns and runs
3108-559: The City Hall and Parliament Building. The city square is also located within the perimeter. Most of the skyscrapers in this region are the headquarters of businesses and corporations, such as I&M and the Kenyatta International Conference Centre . The United States Embassy bombing took place in this district, prompting the building of a new embassy building in the suburbs. In 2011, the city
3192-621: The Complaints Handling Unit (CHU) SMS System. The Nairobi Stock Exchange marked the first day of automated trading in government bonds through the Automated Trading System (ATS) in November 2009. The automated trading in government bonds marked a significant step in the efforts by the NSE and CBK towards creating depth in the capital markets by providing the necessary liquidity. In December 2009, NSE marked
3276-721: The Flame Tree Group, an FMCG company and Kurwitu Ventures, a Sharia compliant investment company. Both were listed in the Growth Enterprise Market Segment by way of introduction. Effective 11 February 2015, CMC Holdings , Kenya's largest importer of vehicles and largest car-assembly company, was de-listed from the NSE, following its take over by the Al-Futtaim Group , based in the United Arab Emirates . In March 2015,
3360-554: The IPO running from 24 July 2014 to 12 August 2014, the listing made the NSE and the Johannesburg Stock Exchange the only self-listed exchanges in Africa. The NSE IPO was oversubscribed by 763.92%, making it the most oversubscribed share offer in the NSE's history. The NSE shares started trading on the Main Investment Market Segment of the exchange on 9 September 2014. The NSE added two new listings in November 2014,
3444-529: The Index and announced the companies that would constitute the NSE Share Index. The review of the NSE 20‐share index was aimed at ensuring it is a true barometer of the market. A wide area network (WAN) platform was implemented in 2007; this eradicated the need for brokers to send their staff (dealers) to the trading floor to conduct business. Trading is now mainly conducted from the brokers' offices through
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3528-557: The June/July season, when the temperature can drop to 9 °C (48 °F). The sunniest and warmest part of the year is from December to March, when temperatures average in the high-twenties Celsius during the day. The mean maximum temperature for this period is 28 °C (82 °F). There are rainy seasons, but rainfall can be moderate. The cloudiest part of the year is just after the first rainy season, when, until September, conditions are usually overcast with drizzle. As Nairobi
3612-494: The Kenyan government's Affordable Housing Program , various housing developments are underway to accommodate the city's growing population. The city is situated at 1°09′S 36°39′E / 1.150°S 36.650°E / -1.150; 36.650 ( Nairobi, Kenya ) and 1°27′S 37°06′E / 1.450°S 37.100°E / -1.450; 37.100 ( Nairobi, Kenya ) and occupies 696 square kilometres (270 sq mi). Nairobi
3696-465: The London officials accepted to recognize the setting up of the Nairobi Stock Exchange as an overseas stock exchange. In 1954 the Nairobi Stock Exchange was then constituted as a voluntary association of stockbrokers registered under the Societies Act. Since Africans and Asians were not permitted to trade in securities, until after the attainment of independence in 1963 , the business of dealing in shares
3780-553: The NSE 20-Share Index recorded an all-record high of 5030 points. The NSE was rated by the International Finance Corporation (IFC) as the best performing market in the world with a return of 179% in dollar terms. The NSE also moved to more spacious premises at the Nation Centre in July 1994, setting up a computerized delivery and settlement system (DASS). For the first time since the formation of
3864-558: The NSE Smart Youth Investment Challenge to promote stock market investments among Kenyan youth. The objective of the challenge was threefold: After the resignation of Chris Mwebesa, the NSE board appointed Peter Mwangi to be the new NSE chief executive in November 2008. The Complaints Handling Unit (CHU) was launched in August 2009 to bridge the confidence gap with NSE retail investors and have any concerns processed and resolved. Also in 2009, NSE launched
3948-583: The NSE officially joined the United Nations Sustainable Stock Exchanges (SSE) initiative whereby they made a voluntary pledge to inform their stakeholders of the importance of integrating sustainability in their capital markets. The bourse had 66 listed companies in February 2021. The exchange's CEO, Geoffrey Odundo, told the press in April 2022 that NSE.NR was looking to purchase stakes in additional bourses in Africa. At
4032-620: The Nairobi County and joins the larger River Athi on the eastern edge of the county. Nobel Peace Prize laureate Wangari Maathai fought fiercely to save the indigenous Karura Forest in northern Nairobi which was under threat of being replaced by housing and other infrastructure. Nairobi's western suburbs stretch all the way from the Kenyatta National Hospital in the south to the UN headquarters at Gigiri suburb in
4116-440: The Nairobi Stock Exchange, the number of stockbrokers increased with the licensing of eight new brokers. In 1996 saw the largest share issue in the history of NSE with the privatization of Kenya Airways . Having sold a 26% stake to KLM , the Government of Kenya proceeded to offer 235,423,896 shares (51% of the fully paid and issued shares of KSh.5/= each) to the public at KSh.11/25 per share. More than 110,000 shareholders acquired
4200-568: The WAN. However, brokers under certain circumstances can still conduct trading from the floor of the NSE. In 2008, the NSE All Share Index (NASI) was introduced as an alternative index. Its measure is an overall indicator of market performance. The Index incorporates all the traded shares of the day. Its attention is therefore on the overall market capitalization rather than the price movements of select counters. In April 2008, NSE launched
4284-593: The burning of the original town. Between 1902 and 1910, the town's population rose from 5,000 to 16,000 and grew around administration and tourism, initially in the form of big game hunting . In 1907, Nairobi replaced Mombasa as the capital of the East Africa Protectorate. In 1919, Nairobi was declared to be a municipality. In 1921, Nairobi had 24,000 residents, of which 12,000 were native Africans. The next decade saw growth in native African communities in Nairobi, and they began to constitute
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#17327723637404368-400: The centre-east and Kasarani to northeast area among others. The low and lower income estates are located mainly in far eastern Nairobi. These include, Umoja, Kariokor, Dandora , Kariobangi , Kayole , Ruai , Kamulu , Embakasi , and Huruma . Kitengela suburb, though located further southeast, Ongata Rongai and Kiserian further southwest, and Ngong/Embulbul suburbs also known as 'Diaspora' to
4452-469: The city. The United Nations Office at Nairobi hosts UN Environment and UN-Habitat headquarters. Several of Africa's largest companies are headquartered in Nairobi. Safaricom , the largest company in Kenya by assets and profitability is headquartered in Nairobi, KenGen, which is the largest African stock outside South Africa , is based in the city. Kenya Airways , Africa's fourth largest airline, uses Nairobi's Jomo Kenyatta International Airport as
4536-510: The city. These include Goodyear Tire and Rubber Company , General Motors , Toyota , and The Coca-Cola Company . Nairobi has a large tourist industry , being both a tourist destination and a transport hub. Nairobi has grown around its central business district . This takes a pentagonal shape, around the Uhuru Highway, Haile Selassie Avenue, Moi Avenue, and University Way. It features many of Nairobi's important buildings, including
4620-511: The clearing, settlement, depository and registry system for securities traded in Kenya's capital markets. As of November 2002, the NSE became the sole NNA in Kenya, responsible for allocating the unique code for quoted and unquoted securities domiciled in Kenya. In March 2003 the CDSC in collaboration with the NSE commenced the CDS Education Campaign in preparation for the market automation. The first CDS Education Workshop, with
4704-547: The cold water stream which flowed through the area. With the arrival of the Uganda Railway , the site was identified by Sir George Whitehouse for a store depot, shunting ground and camping ground for the Indian labourers working on the railway. Whitehouse, chief engineer of the railway, favoured the site as an ideal resting place due to its high elevation, temperate climate, adequate water supply and being situated before
4788-463: The combined equity turnover recorded in the previous five years. For the year ending 31 December 2004, the exchange recorded an equity turnover exceeding KSh.22.32 billion/=; an increase of 46.37% over the corresponding period for 2003. For the year ending 31 December 2005, the exchange recorded an equity turnover exceeding KSh.36.52 billion/= (a 63.61% increase over the previous year's performance of Kshs. 22.32 billion). In May 2006, NSE formed
4872-509: The envisaged licensing of Dealing Firms to improve market liquidity. On 1 January 1999, Kenya adopted the International Accounting Standards (IAS) as the local accounting standard. NSE implemented a new trading cycle, (T+5) in August 2000. The Central Depository System Act (CDS) and the amended CMA Act covering Collective Investment Schemes (CIS) were passed by parliament and affirmed by the president, paving
4956-413: The far west are considered part of the Greater Nairobi Metropolitan area. More than 90% of Nairobi residents work within the Nairobi Metropolitan area, in the formal and informal sectors. Many Somali immigrants have also settled in Eastleigh , nicknamed "Little Mogadishu ". Here is the list of all postal codes for Nairobi Archived 19 March 2023 at the Wayback Machine . The Kibera slum in Nairobi
5040-416: The following investments: Nairobi Securities Exchange, as of 2015, was governed by an eleven-person Board of Directors with Kiprono Kittony serving as the chairman of the group and Frank Mwiti as the CEO. The shares of the Nairobi Securities Exchange are listed and traded on its own main board, under the symbol NSE . As of 31 December 2014 the shareholding in the bourse's stock were as depicted in
5124-401: The foreign investor regulations amended, providing for a 25% minimum reserve of the issued share capital for Kenyan citizens, while the balance of the 75% becomes a free float for all classes of investors. Within this 75% share holding available to all classes of investors, there is no restriction on the amount to be held by a single foreign investor. The signing of the shareholders’ agreement for
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#17327723637405208-537: The functionality for the trading of rights in the same manner as equities. Besides trading equities, the ATS trades immobilized corporate bonds and treasury bonds. An MoU between the Nairobi Stock Exchange and Uganda Securities Exchange was signed in November 2006 on mass cross listing. The MoU allowed listed companies in both exchanges to dualist, to facilitate growth and development of the regional securities markets. In February 2007 NSE upgraded its website, in part to boost data vending business. In July 2007 NSE reviewed
5292-564: The governing mechanism when it comes to making decisions related to urban planning. The Master Plan at the time, which was designed for 250,000 people, allocated 28% of Nairobi's land to public space, but because of rapid population growth, much of the vitality of public spaces within the city are increasingly threatened. City Park, the only natural park in Nairobi, for example, was originally 60 ha (150 acres), but has since lost approximately 20 ha (50 acres) of land to private development through squatting and illegal alienation which began in
5376-494: The main access road to the airport (Airport South Road). The total cost of the project was more than US$ 29 million (US$ 111.8 million in 2013 dollars). On 14 March 1978, construction of the terminal building was completed on the other side of the airport's single runway and opened by President Jomo Kenyatta less than five months before his death. The airport was renamed Jomo Kenyatta International Airport in memory of its first president. The Giraffe Centre , an animal sanctuary on
5460-463: The market was not formal as there did not exist any rules and regulations to govern stock broking activities. Trading took place on a ‘gentleman's agreement.’ Standard commissions were charged with clients being obligated to honor their contractual commitments of making good delivery and settling relevant costs. At that time, stock broking was a sideline business conducted by accountants, auctioneers, estate agents and lawyers who met to exchange prices over
5544-406: The mid-2010s, following the implementation of the 2010 Constitution. House Keeping committees Investigatory Committees Special Funds Accounts Committee: examines the reports and accounts of national Funds except the National Governments Constituency Development Fund (NGCDF) Departmental committees: Other Select committees : See also, Kenya National Assembly elections, 2013 . For
5628-496: The north, a distance of about 20 kilometres (12 mi). The city is centred on the City Square, which is located in the Central Business District. The Kenyan Parliament buildings, the Holy Family Cathedral , Nairobi City Hall, Nairobi Law Courts, and the Kenyatta Convention Centre all surround the square. Under the Köppen climate classification , Nairobi has a subtropical highland climate (Cwb). At 1,795 metres (5,889 ft) above sea level, evenings may be cool, especially in
5712-423: The previous T+4 settlement cycle to the T+3 settlement cycle. This allowed investors who sell their shares to get their money three days later, while buyers have their CDS credited at the same time. In September 2011 the Nairobi Securities Exchange converted from a company limited by guarantee to a company limited by shares and adopted a new Memorandum and Articles of Association reflecting the change. In October 2011,
5796-452: The railway, Whitehouse remarked that "Nairobi itself will in the course of the next two years become a large and flourishing place and already there are many applications for sites for hotels, shops and houses." The town's early years were however beset with problems of malaria leading to at least one attempt to have the town moved. In the early 1900s, Bazaar Street (now Biashara Street) was completely rebuilt after an outbreak of plague and
5880-443: The southwestern outskirts of Nairobi, was opened in 1983. To this day, it breeds the endangered species of Rothschild's giraffe . The United States Embassy, then located in downtown Nairobi, was bombed in August 1998 by Al-Qaeda and the Egyptian Islamic Jihad , as one of a series of US embassy bombings . It is now the site of a memorial park. On 20 October 2011, a memorial statue was unveiled in Nairobi in memory to Tom Mboya ,
5964-453: The steep ascent of the Limuru escarpments . His choice was however criticised by officials within the Protectorate government who felt the site was too flat, poorly drained and relatively infertile. During the pre-colonial era, the people of modern Kenya mostly lived in villages amongst their tribes and cultural groups, where they had rulers within their communities rather than one singular government or leader. In 1898, Arthur Church
6048-461: The table below: Nairobi Nairobi ( / n aɪ ˈ r oʊ b i / ny- ROH -bee ) is the capital and largest city of Kenya . The name is derived from the Maasai phrase Enkare Nairobi , which translates to 'place of cool waters', a reference to the Nairobi River which flows through the city. The city proper had a population of 4,397,073 in the 2019 census. The city
6132-470: The theme "The CDS Legal & Regulatory Framework" kicked off. The NSE celebrated its Golden Jubilee in 2004, and also hosted the 8th ASEA conference. In this celebration, the first NSE magazine dubbed "The Exchange" and, The Central Depository & Settlement Corporation (CDSC), which manages Central Depository Systems, were both launched. For the year ending 31 December 2003, the exchange recorded an equity turnover exceeding KSh.15.25 billion/=, more than
6216-530: The time of Mutura's swearing in as acting Governor, which he will hold for at least 60 days, Nairobi did not have a Deputy Governor as well. Nairobi has seen several major infrastructure projects in recent years. The Nairobi Expressway , completed in 2022, was developed to reduce traffic congestion along Mombasa Road. Additionally, the Green Park Bus Terminal , part of efforts to improve public transport, began operations in 2021. In line with
6300-504: The time, it was the fifth biggest bourse in Africa by market capitalization, and owned 5.9% in Tanzania 's Dar es Salaam Stock Exchange . In December 2022, the NSE officially linked with seven other different capital markets in Africa, across 14 African companies. That month the NSE also introduced "fractional investing" in Kenyan stocks. It was reported on December 6, 2022, that foreign investors trading at NSE had halved within one week. At
6384-498: The time, the largest four stocks at the NSE by market capitalization were Safaricom , Equity Group , KCB , and EABL . These include: NSE is a member of the African Securities Exchanges Association , East African Securities Exchanges Association and an affiliate member of World Federation of Exchanges . Other than stock and bond trading as the main business of the NSE, the exchange has
6468-519: The tower consisted of a cylinder composed of several cuboids, and the amphitheater and helipad both resembled cones. The tower was built around a concrete core and it had no walls but glass windows, which allowed for maximum natural lighting. It had the largest halls in eastern and central Africa. A year prior in 1972, the World Bank approved funds for further expansion of the then Nairobi Airport (now Jomo Kenyatta International Airport ), including
6552-502: The upmarket suburbs are situated to the west and north-central of Nairobi, where most European settlers resided during the colonial times AKA 'Ubabini'. These include Karen , Langata , Lavington , Gigiri , Muthaiga , Brookside, Spring Valley, Loresho, Kilimani , Kileleshwa, Hurlingham, Runda , Kitisuru , Nyari, Kyuna, Lower Kabete , Westlands , and Highridge , although Kangemi, Kawangware, and Dagoretti are lower income areas close to these affluent suburbs. The city's colonial past
6636-747: The way for the full implementation of the CDS and for the introduction of collective investment schemes in the Kenyan market. Following a partnership agreement with the Association of National Numbering Agencies (ANNA), the global securities numbering agency, in September 2000 the NSE was appointed the national numbering agency (NNA) for Kenya, making it responsible for issuing the ISIN for financial securities issued under Kenyan jurisdiction in accordance with ANNA's ISO 6166 guidelines. In October 2000 NSE became
6720-643: Was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya . Previous to its founding, dealing in shares and stocks started in the 1920s when it was the British colonial Kenya Colony (1920−1963), a part of the British Empire . A stock exchange was first floated in 1922 at the Exchange Bar in the Stanley Hotel in Nairobi. However,
6804-488: Was built in three phases: Uhuru Highway to Muthaiga Roundabout; Muthaiga Roundabout to Kenyatta University and; Kenyatta University to Thika Town . On 31 May 2017, President Uhuru Kenyatta inaugurated the Standard Gauge Railway which connects Nairobi to Mombasa. It was primarily built by a Chinese firm with about 90% of total funding from China and about 10% from the Kenyan government. A second phase
6888-546: Was confined to the resident European community. At the dawn of independence, stock market activity slumped due to uncertainty about the future of independent Kenya. 1988 saw the first privatization through the NSE with the sale of a 20% government stake in Kenya Commercial Bank . The sale left the Government of Kenya and affiliated institutions retaining 80% ownership of the bank. Notably, on 18 February 1994
6972-593: Was considered to have about 4 million residents. A large beautification project took place in the Central Business District, as the city prepared to host the 2006 Afri-Cities summit. Iconic buildings such as the Kenyatta International Conference Centre had their exteriors cleaned and repainted. Kenyan Parliament Opposition (158) Independents (12) The National Assembly of the Republic of Kenya (formerly House of Representatives )
7056-452: Was first and foremost commissioned to design the first town layout for the railway depot. It constituted two streets – Victoria Street and Station Street , ten avenues, staff quarters and an Indian commercial area. The railway arrived at Nairobi on 30 May 1899, and soon Nairobi replaced Machakos as the headquarters of the provincial administration for the Ukamba province. On the arrival of
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