How To Buy & Sell Safaricom Shares In 2023/2024 .

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Did you know when you buy shares in a company, you become its part owner? Safaricom is one of the biggest and most profitable companies in Kenya. If you wish to own part of this mega company, you should learn how to buy Safaricom shares. The process is fairly simple, and you will get good returns on your investment.

 

 

 How to buy Safaricom sharesThe Safaricom logo. Photo: @SafaricomPLC

Source: Facebook

 

 

Safaricom PLC is arguably the leading telecommunications company. The firm provides different services to its broad base of loyal customers. If you wish to become one of the company’s owners, you must learn how to buy Safaricom shares.

 

 

 

How to buy Safaricom shares in 2023

Safaricom is listed as one of the largest trading firms on the Nairobi Stock Exchange. Numerous successful entrepreneurs have invested in the company by buying shares. Over time, they have accumulated substantial wealth.

 

 

Opening a CDSC account

Safaricom allows you to buy its shares online through a verified stockbroker. Before purchasing shares, you must have a Central Depository and Settlement (CDSC) account. There are various ways of opening this virtual account, as explored below.

 

Opening an account via the bank

If your banking institution offers stock brokerage services, visit the nearest branch and request to open a CDSC account. To do this, you need to have the following items.

Two recent passport-size photographs

A valid Kenyan ID or passport

A bank statement or utility bill

Original Certificate of Incorporation (for group shareholders)

Once the bank ascertains you meet the requirements, you will be issued a CDS1 form to fill out before receiving your CDSC number.

 

 

Opening an account via a verified shares-trading app

You can sign up for a CDSC account using a verified shares-trading app, e.g. AIB Digi Trader App. You can buy and sell Safaricom shares online with a reliable mobile app. You can also use it to trade in other stocks at the Nairobi Stock Exchange.

 

 

Opening a CDSC account via USSD

If you wish, you can use the USSD code *543# to sign up for a CDSC account on your Safaricom number. Once you follow the prompts, you will receive login details to your online account.

 

 

How to buy Safaricom shares in Kenya: a comprehensive guide

You are ready to purchase shares now that you have a CDSC account. There are multiple ways of purchasing Safaricom shares in 2023, as explored below.

 

 

Buying via a stockbroker

Follow the simple steps below to learn how to buy shares in this telecommunications firm through a stockbroker. Before using any stockbroker, do your due diligence to ascertain the broker is reliable.

  • Deposit the amount you wish into your CDSC online account using the payment details provided by the stockbroker. Alternatively, you can transfer from your bank account to the CDSC account.
  • Fill out the order form provided by your stockbroker. The order should indicate the number of shares to be purchased, which must not be below the minimum number given by the company.
  • Wait for the transaction to reflect in your CDSC account within two working days.

 

 

 

 

Online purchase

You can also purchase shares online via the Cooperative Bank or bank account. You can also use your Bonga Points. Each of these ways is explored below.

 

 

How to buy Safaricom shares via M-Pesa

To purchase via M-Pesa, follow the steps below.

  • Open your M-Pesa app and go to Lipa na M-Pesa.
  • Choose Paybill, then enter the Paybill number 163163.
  • Enter your name or your group’s name as the account number.
  • Follow the prompts to complete the transaction.

 

 

How to buy Safaricom shares via the Cooperative Bank

If you have a Cooperative Bank account, you can make a purchase. Note that this only applies to the Cooperative Bank.

To complete the transaction, remit the amount you wish to Cooperative Bank’s account number 01120150100700. The account name is Safaricom Investment Cooperative (SIC), Westlands branch.

 

 

 

How to buy Safaricom shares using Bonga points

Follow the steps below when purchasing Safaricom shares using Bonga points.

 

  • Dial *126# on your mobile phone.
  • Choose Lipa Na Bonga Points.
  • Select Paybill, then enter your broker’s paybill number.
  • Enter your CDSC account number as the account number.
  • Enter the amount you wish to deposit directly into your CDSC trading account.
  • Log into your CDSC account to buy the shares you wish.

NB: You can follow this process using the MySafaricom App. Note that for every 5 Bonga points, you redeem KES 1.

 

 

 

Individual requirements

Purchasing shares is not a one-time thing. You need to make a commitment, and below are the requirements you must meet.

  • Buy a minimum of 500 shares at the prevailing rate.
  • Pay a non-refundable registration fee of KES 10,000.
  • Be willing to pay a monthly contribution of KES 3,000.
  • Be willing to submit a copy of your ID/ passport, KRA PIN certificate, and proof of payment to the relevant authorities.

 

Group requirements

Groups must meet the following requirements.

 

  • Must be fully registered.
  • Must pay a registration fee of KES 25,000.
  • Must purchase a minimum of 1,500 shares.
  • Must be willing to contribute KES 15,000 monthly.

 

How to check my Safaricom shares

You can check your Safaricom shares on your CDSC account. Log into your personal account to check.

 

 

How to sell Safaricom shares

If you wish to sell your shares, you should follow the steps below.

  • Confirm the prevailing Safaricom shares prices to know how much you will be selling at.
  • Alert your broker about your intention.
  • Patiently wait for someone to buy your shares. Once sold, you will receive the money in your account.

 

 

 

 

How much are Safaricom shares?

The cost of shares is ever-changing depending on the prevailing market conditions. However, each share has an average cost of KES 24.80. You should always check the prevailing rate before purchasing or selling.

 

 

Are Safaricom shares profitable?

 

Yes, the shares are profitable. The company ranks high on the list of the country’s most profitable firms on the Nairobi Stock Exchange.

 

 

How much do I need to buy Safaricom shares?

You need the amount that can purchase at least 500 shares for individuals and 1,500 shares for groups. You should also factor in the non-refundable fee.

 

 

What is the Safaricom shares price in 2023?

The share price in 2023 is challenging to state because the price varies depending on the prevailing economic conditions on the stock exchange.

Kenyan investors should learn how to buy Safaricom shares because the company is among the most profitable ones in the country. Before making any purchase, you must open a CDSC account.

 

 

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!

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