Vodafone Limited has successfully converted 16 billion of its Safaricom shares from paper certificates into digital form.
This process, known as “immobilization,” was facilitated by the Central Depository and Settlement Corporation (CDSC). It means that almost all of Safaricom PLC’s 40 billion issued shares are now stored electronically in the Central Depository System (CDS), making them easier to trade and transfer.
Previously, these 16 billion shares were held as physical certificates, which made transactions slower and riskier due to issues like forgery, delays, or even loss of documents.
Now, by moving them into the CDS, the shares are safer, more transparent, and can be traded more easily on the Nairobi Securities Exchange (NSE).
“This is more than just a numbers game,” said Jesse Kagoma, CEO of CDSC. “It shows growing confidence in our systems and brings us closer to international standards.”
Thanks to this move, the total number of shares stored in Kenya’s digital stock system has risen to 97 billion — now covering 95% of all listed shares in the country.
That’s a huge jump from just a few months ago, when only 52% were digitized.
CDSC is urging other investors still holding physical share certificates to work with their stockbrokers and registrars to convert them into digital format.
The shift to electronic trading is part of Kenya’s broader goal to create a secure and modern financial market.
