In today’s guide, we will show you what Safaricom shares are and how to buy and sell shares in Kenya.
A large number of investors have shown interest in buying shares from the company.
This is because Safaricom is the leading telecommunication service provider in Kenya, and the company has registered massive success since its inception.
How To Become A Member
If you want to buy Safaricom holdings, you can buy either as an individual or as a group.
If you want to register for shares and become a member, follow the steps shown below.
1. Use 52.5Ksh. To purchase a minimum of 500 Safaricom shares.
2. You will pay 10,000 admission fee, which cannot be refunded if you withdraw.
3. You will be required to pay a total of 36, 500Ksh.
4. You will get a registration form. Fill it in and attach the following requirements; passport photo, copy of ID, KRA pin, and proof of payment.
5. You will be required to contribute a minimum of 3000Ksh. Monthly.
The following can become a member of Safaricom Investment Co-operative, a self-help group, an investment company, and a Sacco.
A group is expected to contribute a minimum of Kshs 15,000 per month., Kshs 25,000 as a registration fee and a minimum number of shares is 15,00 shares.
How to Buy Safaricom Shares
For you to buy Safaricom shares, you must open a CDS account with a stoke broker that will enable you to purchase shares from the stock market.
The best option for you, in this case, will be Safaricom Investment Co-operative.
Safaricom investment Co-operative draws its members from the current and former staff of Safaricom and the public at large.
This co-operative accepts both individual and group membership.
Safaricom Co-operative allows secondary trading of shares, which refers to us as the process of buying shares from existing members and not directly from the co-operative.
The procedure of Buying Safaricom Secondary Shares
There are various ways to buy Safaricom shares. These include via share trading account, online, Safaricom M-Pesa, and bank.
1. Through Share Trading Account
You can buy secondary shares by depositing money into the trading account
Note that shares are allocated every week in a cycle of 7 working days as long as the trading market is open.
Safaricom investments are allocated on a First In First Out (FIFO).
You can buy secondary shares from the Safaricom Investment Co-operative through mpesa, bank, or online as shown below;
2. Buy Safaricom Shares Via Online
If you wish to buy Safaricom shares online, you can log in to the Safaricom Investment Co-operative web portal via a web portal.sic.co.ke.
3. Buying Shares Via Mpesa
Follow the steps below if you wish to buy Safaricom shares.
Use this paybill number, 163 163.
When asked account number, key in your name or the names of the members.
4. Via Bank
If you want to buy Safaricom shares via a bank in Kenya, please follow the basic steps below:
- Use Co-operative Bank of Kenya.
- In the name field, type in Safaricom Investment Co-operative.
- Enter this account number, 01120150100700.
- Write Westlands in the branch field.
The shares are readily affordable, and many people have benefitted from this service, especially Safaricom employees.
How To Sell Safaricom Shares In Kenya
There are various ways you can sell your shares in Kenya. The following are the means you can trade your shares:
1. Through Stock Broker
If you are one of Safaricom’s shareholders in Kenya and wish to know how to sell the shares may be because you need liquid cash or for other reasons.
Worry not, below you will learn how to sell shares in Kenya.
This is the easiest way of doing so.
- Request your broker to sell your shares for you.
- Mention the numbers of shares you are planning to sell.
2. Sell Safaricom Shares Online
You can place your request online via your broker’s online shares trading app or platform.
3. Via Email
Alternatively, you can send an email if you have an email indemnity to your stock broker, letting them know you wish to sell your Safaricom portfolio.
Inform them of the exact number of shares you are willing to sell.
After you have informed your stockbroker of your intention, all you have to do is wait for your cash.