by Zack Abuyeka
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: sicshares@safaricom.co.ke.
Zack Abuyeka
I am the third eye.My duty is to keep you updated of the current trends and events happening round the globe.
