If you go through a stockbroker, you’ll have to pay in cash or by bank transfer. However, you must first open a virtual Central Depository and Settlement (CDSC) account, which you will use to purchase Safaricom shares. A CDS account is a virtual account, similar to an MPesa account, in which your shares are stored. The following are the steps to opening a CDS account:
Visit any branch of the Central Bank of Kenya or your preferred stockbroker.Present the following documents to your broker as requirements for opening a CDS account in Kenya: 2 recent passport-size photosOriginal national identification cardUtility bill or bank statementYou will fill out a form (CDS1) and receive your CDS account number.
How to Buy Safaricom Stock Online:
Log in to your online stock trading account.Add money to the account using MPESA.Buy shares by clicking hereScroll down to find Safaricom shares.Enter the required quantity and, if necessary, the price limit.Confirm the order.
How to Become a Member After Purchasing Safaricom Shares:
Purchase at least 500 shares at 52.5ksh.A non-refundable admission fee of 10,000ksh is required.The total amount due is 36,500ksh.Fill out a registration form and include a passport photo, ID copy, KRA pin copy, and proof of payment.The monthly minimum contribution is 3000kshs.
Chamas, SACCOs, and self-help groups can also purchase Safaricom shares if they meet the following criteria:
Be a registered organization.Ksh 25,000 is required for registration.Purchase at least 1,500 shares.Be willing to contribute Ksh 15,000 every month.
Every day, the price of Safaricom shares fluctuates. For example, the price per share on March 2nd, 2022 was Ksh 36.15. However, on August 18th, 2021, when prices were at their highest in a year, shares were selling for Ksh 44.20. However, the lowest price in the last year was Ksh 34.55 per share on February 24th, 2022. So, using these prices as a guide, we can estimate that Safaricom shares range from Ksh 34.55 to Ksh 44.20. Prices are subject to change depending on the market situation.
