This article focuses on how to buy Safaricom shares. Safaricom is the leading telecommunication service provider in Kenya and has registered massive success since its inception. This has attracted a large number of investors who have shown interest in buying shares from the company.
For you to buy Safaricom shares, you need to open a CDS account with a stoke broker to buy shares from the stock market. For this case, the best option will be Safaricom Investment Co-operative.
Safaricom Investment Co-operative was established in 2009 under the Co-operatives Act Cap 490 to pursue joint investments for its members. It draws its members from the current and former staff of Safaricom and the public at large. The Co-operative allows individual and group membership.
How To Become A Member of Safaricom Investment Co-operative
1. Individual Membership
- One is required to purchase a minimum of 500 shares at 52.5 Ksh.
- Pay a non-refundable admission fee of Kshs 10,000.
- Minimum monthly contribution is Ksh 3,000.
- Total to pay is Kshs 36,500.
- Fill in a registration form and attach a passport photo, copy of ID, copy of KRA PIN and proof of payment.
2. Group Membership
- A chama, a self help group, an investment company and a sacco can join.
- Minimum monthly contribution for a group is Kshs 15,000, registration is Kshs 25,000 and minimum number of shares is 1500 shares.
How To Buy Safaricom Shares
Safaricom Investment Co-operative allows secondary trading of shares. This refers to the process of buying shares from existing members and not directly from the Co-operative.
Secondary shares can be bought by depositing money to the share trading account. Shares are allocated every week in a cycle of 7 working days as long as the trading market is open. Shares are allocated on a First In First Out (FIFO) basis.
You can buy Safaricom secondary shares from the Safaricom Investment Co-operative through Mpesa, bank or online.
Those wishing to buy shares online can do so by logging in to the Safaricom Investment Co-operative web portal via webportal.sic.co.ke.
How To Buy Safaricom Shares Via Mpesa
- Use Pay bill number 163 163.
- For the account number, key in your individual name or names of the members.
How To Buy Safaricom Shares Via Bank
- Use Co-operative Bank of Kenya.
- Name: Safaricom Investment Co-operative
- Bank Account Number: 01120150100700.
- Branch: Westlands.
Safaricom Investment Co-operative Contacts
Head Office: 4th Floor, Westcom Point Building, Opposite Safaricom Headquarters, Westlands.
For Shares Enquiries: 0709 194 100/1.
Email: [email protected]