Uganda telecom, Uganda’s leading telecommunication provider and Afrika Investment Bank have signed a partnership deal to sell Safaricom Kenya Shares.

Safaricom is the largest telecommunication provider in Kenya and have registered the highest growth rate in East and Central Africa. They are also the most respected and most profitable company in the region.

To purchase Safaricom shares, one will be required to open a Central Depository System Account. This is an electronic account computer system that holds shares just like a bank account holds cash. The CDS is very helpful as transactions for transferring shares becomes easier and faster between the Kenya Security Exchange and the shareholder.

Uganda telecom, with its extensive customer service centre network, will be offering AIB a platform to sell the shares from. AIB will be issuing Central Depository System (CDS) registration at the service centres and these include Rwenzori Courts, Game Lugogo Mall, Garden City, Shoprite Ben Kiwanuka, Entebbe, Jinja, Mbale, Mbarara, Fort Portal, Lira, Xtel shop next to Nandos on Kampala road and Telchoice opposite the General Post Office. The outlets will be open Monday to Saturday starting 28th March up till 23rd April.

Interested parties can come to the service centres with their passport size photo and a copy of a passport or valid ID and get a CDS account. Thereafter, they will apply to purchase shares at the service centres as well. The cost of each share shall be Kshs 5/= depending on the exchange rate.

After opening the CDS, one will be required to make payment into one of Afrika Investment Bank accounts that are held in Stanbic, Barclays and Diamond Trust. Opening the CDS account is absolutely free and takes two working days.

The lower limit for the number of shares one can purchase is 2000 shares. One can then purchase as many shares as they can in multiples of 100.