Telposta Pension Scheme sold KES 361.28m of shares in 11 Nairobi Securities Exchange (NSE) companies in the year to June 2026. A year earlier it sold KES 8.78m, Business Daily reported on 16 October 2026, citing the scheme's financial statements.
For pensioners the question is what paid their cheques. The scheme's administrator says the shares did, while a much larger property sale was held up.
What the scheme sold
(Facts) According to Business Daily, the sales halved the scheme's equities portfolio to KES 221.46m from KES 440.35m. Its holding fell to 4.57 million shares from 13.35 million. The scheme booked a gain of KES 72.45m on the sales.
| Company | Shares sold, year to June 2026 |
|---|---|
| Safaricom | 3.69 million |
| Kenya Power | 1.42 million |
| Equity Group | 1.14 million |
| KCB Group | 865,132 |
| NCBA Group | 620,642 |
| Co-operative Bank of Kenya | 174,600 |
| EABL | 156,235 |
| Absa Bank Kenya | 84,954 |
| Britam Holdings | 42,380 |
| Standard Chartered Bank Kenya | 20,575 |
| CIC Insurance Group | 47 |
Source: Business Daily, 16 October 2026, from the scheme's financial statements for the year ended June 2026.
Why, according to the scheme
(Facts) Administrator Peter Rotich told Business Daily the trustees sold to meet immediate obligations, including pensions. He attributed this to delays in selling properties valued at KES 9.62bn, including Telposta Towers. "Because of the delays, we had to liquidate some of our equity investments to meet expenses, including paying members and meeting other administrative expenses," he said.
(Facts) The scheme paid retirees KES 828.12m in the year, against KES 843.02m the year before. It also spent on renovating housing units in Gilgil, Jogoo Road in Nairobi, and Makande and Bombolulu in Mombasa ahead of sale. Business Daily reports agreements with the Ministry of Information, Communications and the Digital Economy, the National Police Service and the Ministry of Defence to buy four properties, but says the first payment is yet to be made.
What it means
(Analysis) The share sales of KES 361.28m equal about 44% of the KES 828.12m paid to retirees in the same year. The sales were about 41 times the previous year's.
(Analysis) After the sales, the scheme's listed shares were worth KES 221.46m. That is smaller than the share sales of this one year, so the same route cannot be repeated on the same scale. The property money, which the scheme values at KES 9.62bn, is now the larger source of cash it is waiting on.
What to watch
- Whether the government buyers make the first payment on the four properties.
- The scheme's financial statements for the year to June 2027: further share sales, and the size of the equities portfolio.
Information, not advice.