How to Sell Safaricom Shares Online
Safaricom is a publicly listed company at the Nairobi Stock Exchange (NSE) clustered under the sector of Telecommunications. NSE is a platform through which all listed companies trade their shares. You can own Safaricom shares by purchasing via an NSE licensed stockbroker or a financial institution. It is now easy to buy or sell Safaricom shares online.
The first step to selling Safaricom shares online is acquiring a CDS account, which is a compulsory requirement to buy or sell shares. A CDS account is an account for storing your shares just like a bank account. It facilitates your future buying and selling of shares.
It is free to open the account and you can open it as an individual, partnership, joint account, Chama, company or SACCO.
Here is a simple guide on how to create a CDS account.
Requirements:
- Your National Identity Card
- A KRA PIN
- Two passport size photographs
- A CDSC form which your agent or bank provides. It carries all your information (address, name, your preferred mode of receiving dividends, whether you are an individual or a company and the account number)
- For a Limited Company there are additional requirements which are:
- Resolutions to open a CDS account
- Articles and Memorandum of Association
- Details of all directors
Step One: Account Generation
Once you are done providing all the requirements, your details are verified and an account is generated. This is the account, which you will buy, store and sell Safaricom shares. Any bank or broker can access it.
Step Two: Identify a Stockbroker
NSE recommends the use of stockbrokers or a bank in buying and selling shares. It appropriate to go through the list of approved stockbrokers on NSE website to make your best choice.
Step Three: Funding your CDS account
With a CDS account and a broker, now you need to fund your account in readiness to purchase the Safaricom shares in the trading circles.
Step Five: Placing an Order
At this point, you know the price of Safaricom shares and the number of shares that you want to buy. Here, you will have to visit a bank or your favourite stockbroker or an online broker approved by NSE. Still you can buy the shares online via the bank’s online portal or through your stockbroker’s app without filling any forms.
Once the purchase is successful, Your Safaricom shares are credited to your CDS account. The bank can generate a printout for you showing the date and number of shares that you bought.
If you want to add more shares then you will have to fill a purchase order and fund the account. In addition, you can download a CDSC mobile app to monitor your account easily.
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How to sell Safaricom shares Online.
Upon having a CDS account, you can now sell Safaricom shares at any time you want at prevailing market rates. When the markets are favourable or need has risen that needs urgent attention or any other reason, you can easily sell the shares online and receive money instantly. Here is how to go about it.
Check the current Price of Safaricom share
Like in any investment, when investing in shares consider several factors such as market trends, internal and external influencers when investing.
For you to get to know the best time to sell your shares you need to do enough research, analyze the prevailing Safaricom share price, future prospects, company fundamentals, and more before parting with your shares.
Fill a Sale Order Form
Pay a visit to your bank or broker and indicate your prices in consideration of the current market value of the shares. Place your request online via your broker’s online shares trading app/platform. You do not have to sell all your shares at a go.
The other alternative is sending an email to your stockbroker, informing them that you wish to sell your Safaricom shares and the exact number of shares you are selling. The share market like any other market operates on supply and demand principles.
Your Account is funded
In a count of not more than two days, your account is credited with the proceeds of Safaricom shares. A quick check into your portfolio will show you the balance less amount sold.
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