Safaricom has been among the greatest firms in share trading for some time now, and its share value has expanded enormously despite rising competition from Airtel and other rivals.
If you invested in Safaricom stock five years ago, you could have made incredible profits of up to 600%.
The share price of Safaricom is expected to continue rising in the near future, so it’s not too late to get in on the action.
Read on if you’re interested in learning how to acquire shares of Safaricom in Kenya, whether as a short-term trader or a long-term investor.
Buying Safaricom shares through a broker: step-by-step
- Shares in Safaricom can be purchased online through a reputable broker. If you want to buy Safaricom shares, you need to open a CDSC account with the Central Depository and Settlement Corporation (CDSC).
- Send the desired sum to your CDSC online account using the stockbroker-provided payment credentials.
- You may also make a wire transfer to the CDSC account directly from your personal bank account. The stockbroker should have an order form that should be filled out.
- Shares to be purchased should be specified in the order, with the minimum allowed by the company not being less than that specified.
- Please allow two business days for the funds to appear in your CDSC account following the transaction.
Buying Safaricom shares through M-Pesa
Below are the steps to buy Safaricom shares using M-Pesa:
- Launch the M-Pesa mobile appl and navigate to the Lipa na M-Pesa section.
- Choose Paybill and input the corresponding Paybill number.
- A group or individual’s name might serve as the account number.
- All you have to do is comply with the on-screen directions to finish the deal.
Requirements for buying Safaricom shares
Buying stock is not a one-and-done deal. A commitment is needed, and these are the conditions that must be met:
- Invest in a minimum of 500 shares at the going pricing.
- A KES 10,000 non-refundable registration fee is required.
- Expect to put in KES 3,000 every month.
- If requested to do so, be ready to provide a copy of your government-issued photo ID, passport, KRA PIN certificate, and evidence of payment.
About Safaricom shares
Safaricom Plc is a tech firm situated in Kenya. Mobile voice, messaging, data, banking and convergent services, and digital services that enable business and personal platforms, as well as ecosystem collaborations, are only some of the services and solutions that the Company offers.
DigiFarm is the Company’s comprehensive mobile platform that provides easy, consolidated access to the full range of the business’s information and financial services for farmers. It provides financial aid in the form of loans and insurance to agriculturalists.
M-PESA is a platform for mobile phone-based payments, money transfers, and microfinancing delivered by Safaricom.
In addition to M-PESA, Safaricom offers an overdraft facility called Fuliza. With Fuliza, clients can overdraw their M-PESA accounts up to a certain amount in order to gain access to an unsecured line of credit and so bridge any temporary gaps in their cash flow.