Khartoum Stock Exchange
Sudan's principal securities exchange, based in Khartoum and operator of the Khartoum Index.
Last updated August 24, 2026
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Overview
The Khartoum Stock Exchange (KSE) is Sudan's principal organized securities market and is based in Khartoum. It provides a venue for the issuance and trading of securities connected with the Sudanese economy, including equities, government instruments and Islamic investment certificates. The exchange's principal market indicator is the Khartoum Index. The institution developed from a longer effort to create a formal Sudanese capital market. The concept was discussed in 1962 by the Sudanese Ministry of Finance, the Bank of Sudan and the International Finance Corporation. A government-bond department was established within the Bank of Sudan in 1964, and the first government bonds were issued in 1966 with a reported aggregate par value of 15 million Sudanese pounds and a ten-year life. These early arrangements supplied an institutional foundation for later exchange development, even though they did not yet constitute a fully independent stock exchange. An initial 1982 law intended to establish the exchange did not produce the intended institution. A renewed effort began in 1992, when a board was formed as part of the process of creating the KSE. The exchange obtained an independent legal identity after the Khartoum Stock Exchange Act was endorsed in 1994. Primary-market activity began that year, followed by secondary-market activity in early 1995. The KSE subsequently expanded its market infrastructure. Listed companies began to be classified in 1999, Shahama certificates were introduced in 2001, and the Khartoum Index was formally declared in 2003. In 2007, the exchange joined the Africa Market Union, linking it with a wider regional framework for African capital markets. The exchange has been described as a growing market with dozens of listed companies. Reference material reports 53 listed companies and an aggregate value of approximately US$5 billion at the time of that description; because the material does not provide a clear valuation date or current confirmation, those figures should not be treated as current. Trading has historically operated on a limited schedule, with the cited reference describing a one-hour session from Sunday through Thursday. Current trading hours, capitalization, listings and operational conditions require verification from the exchange or a current market source. As a national exchange, the KSE's role extends beyond a brand or retail-facing financial product. It is part of Sudan's financial infrastructure, supporting capital formation, securities disclosure, price discovery and secondary-market liquidity. Its historical product scope includes shares, government bonds and Shahama certificates, while its benchmark role is represented by the Khartoum Index. Publicly available reference material does not establish a current executive roster, ownership structure, detailed trading technology, or a complete contemporary list of listed issuers.
History
The origins of the Khartoum Stock Exchange can be traced to 1962, when the Sudanese Ministry of Finance, the Bank of Sudan and the International Finance Corporation discussed the creation of a formal securities market. The first concrete institutional step came in 1964, when a government-bond department was established within the Bank of Sudan. In 1966, the department issued Sudanese government bonds with a reported par value of 15 million Sudanese pounds and a ten-year maturity. These transactions created experience in public-debt issuance but did not amount to an independent stock exchange. A 1982 Act intended to establish the KSE was unsuccessful. A more sustained institutional effort began in 1992, leading to the creation of a board for the proposed exchange. The KSE received an independent legal identity in 1994 after the relevant exchange legislation was endorsed. Its primary market began operating in 1994, and secondary-market trading followed in early 1995. This transition established the exchange as a distinct component of Sudan's financial system rather than a department within the central bank. The exchange continued to develop its market organization during the following decade. It introduced classifications for listed companies in 1999, helping organize issuers within the exchange's listing framework. Shahama certificates were introduced in 2001, adding an Islamic investment instrument to the securities available through the market. The Khartoum Index was declared in 2003, providing a principal benchmark for tracking exchange performance. In 2007, the KSE joined the Africa Market Union, reflecting an effort to participate in broader regional cooperation among African capital markets. The KSE is located in Khartoum and serves the Sudanese market. Reference material characterizes it as a growing exchange with 53 listed companies and a value of approximately US$5 billion, but no date is supplied for those figures and they may not represent current conditions. The same material describes a short trading session from Sunday through Thursday, lasting one hour per day. Current operating hours, listed-company count, market capitalization and continuity of operations should be confirmed against current official information, particularly because the available historical reference does not provide a modern operational update. The exchange's documented role includes facilitating primary issuance and secondary trading, providing a market for equities and government securities, and supporting the trading of Shahama certificates. Its Khartoum Index is the central named benchmark associated with the institution. Public reference material does not identify a founder in the conventional corporate sense, nor does it provide a reliable current list of directors, chief executives, shareholders or parent entities.
- 2007
Joined the Africa Market Union
[1]The KSE joined the Africa Market Union as part of its regional capital-market engagement.
- 2003
Khartoum Index declared
[1]The Khartoum Index was established as the exchange's principal named market index.
- 2001
Shahama certificates introduced
[1]Shahama certificates became an instrument traded through the exchange.
- 1999
Listed-company classifications introduced
[1]The exchange began classifying listed companies within its market structure.
- 1995
Secondary market opened
[1]Secondary-market activity began early in the year, complementing the primary market launched in 1994.
- 1994
Independent legal entity established
[1]The exchange obtained independent legal status after endorsement of the Khartoum Stock Exchange Act, and primary-market activity began.
- 1992
Renewed establishment effort
[1]A renewed effort to create the exchange led to the formation of its board.
- 1982
First establishment law did not succeed
[1]An Act intended to establish the Khartoum Stock Exchange failed to produce a functioning independent exchange.
- 1966
First government bonds issued
[1]The first reported government bonds were issued with an aggregate par value of 15 million Sudanese pounds and a ten-year life.
- 1964
Government-bond department established
[1]A department for government bonds was created within the Bank of Sudan, providing an early institutional base for Sudanese securities issuance.
Products and positioning
Sudan's principal national securities exchange and a platform for equity, government-security and Islamic certificate markets.
Equity securities · 1994
Listed equities
The KSE provides the organized market for shares admitted to trading in Sudan. Its equity market supports primary listings and subsequent secondary-market transactions, allowing investors to buy and sell interests in listed Sudanese companies. The available reference material does not provide a current issuer list or detailed listing requirements.
Debt securities · 1966
Government bonds
Government securities form part of the historical foundation of Sudan's organized capital markets. Government-bond administration began within the Bank of Sudan in 1964, with the first reported bonds issued in 1966. The KSE later incorporated government securities within its broader exchange and capital-market role.
Islamic investment certificates · 2001
Shahama certificates
Shahama certificates were introduced through the KSE in 2001. They represent an Islamic finance instrument associated with Sudan's securities market and broadened the exchange's product mix beyond conventional equity and bond trading. Current trading availability and specifications are not established by the supplied reference material.
Market index · 2003
Khartoum Index
The Khartoum Index is the principal market index associated with the exchange. It was declared in 2003 and serves as the named benchmark for describing performance in the KSE market. The supplied sources do not specify its methodology, constituents, calculation frequency or current value.
Sources2 sources
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