CDSC immobilises 16 billion Safaricom shares
The shares were previously held in certificate format, which limited their ease of trade and transferability through the Nairobi Securities Exchange
The Central Depository and Settlement Corporation (CDSC) has immobilised 16 billion Safaricom Plc shares by Vodafone Limited marking a significant leap forward in the drive toward full dematerialisation of securities.
The move reinforces CDSC’s commitment to facilitating secure efficient and transparent marketplaces that sustain investor confidence.
It has resulted in the total number of Safaricom PLC shares held in electronic format within the Central Depository System (CDS) rising from 24 billion to 40 billion representing almost all of the company’s total issued shares dematerialised.
The 16 billion shares were previously held in certificate format, which limited their ease of trade and transferability through the Nairobi Securities Exchange. By immobilising these shares into the CDS, they are now securely held in electronic format, significantly enhancing Safaricom Plc shares’ liquidity and overall market transparency and efficiency.
Immobilisation eliminates the risks associated with physical certificates including loss, forgery, delayed transfers, and trading while aligning with global best practices for modern capital markets.
The total number of shares held in the CDS now stands at 97 billion representing 95 per cent of the total shares in the Kenya equity market being immobilised. Before the current achievement, CDSC in Q1 2025 moved the immobilized shares from 52 per cent to 79 per cent of the total market equity shares.
“This milestone is not just a numeric achievement, it is a strong signal of growing institutional trust in CDSC’s infrastructure and a major stride in aligning with international best practices. We commend Vodafone Limited for taking the lead in this transition,” CDSC CEO Jesse Kagoma said.
