Ipahco
Licensed to trade on the NSE Derivatives Exchange, where the instruments are futures on single stocks and on the index rather than the shares themselves.
A future is an agreement about a price on a future date. You post a margin — a fraction of the contract's value — and your gain or loss is on the whole contract.
Through a licensed derivatives broker, with a margin account that is marked to market daily. If the position moves against you, you are asked for more margin, and if you do not post it the position is closed.
A future pays no dividend and no interest. It has no yield to compare — it has a price, and a direction you were right or wrong about.
The part that catches people is the arithmetic of leverage: with margin at a fraction of contract value, a move of a few percent in the underlying can take the whole deposit. That is the instrument working as designed, not a malfunction.
The full list is on the regulator's own page, which is where it stays current.
See the live list at the CMAHow a share order actually reaches the NSE. You need one to buy anything listed.
A broker licence plus the corporate side — listings, rights issues, advisory.
Where bonds are actually traded — largely over the counter, largely by banks.
The licence behind investing from your phone. Safaricom and Airtel Money hold it.
A forex broker that takes the other side of your trade itself.
A forex broker that passes your order out to the market instead of taking it on.
Licensed to sell coffee at the Nairobi Coffee Exchange, on behalf of growers.