Telecommunications giant; Safaricom has continued to be at the forefront of telecommunications in Kenya and East Africa, providing a variety of services to it ever growing user base.
The company offers competitive communication services that are integrated. These services include Money transfer (its widely popular M-Pesa service), mobile data, SMS, Wireless internet connectivity, business connectivity, enterprise mobility, managed IT, as well as telecom services.
Safaricom’s unrivaled and unprecedented success has led to increased interest from not only prospective subscribers, but prospective shareholders and investors alike.
The NSE (Nairobi Stock Exchange) has listed the telecommunications company as one of the largest publicly traded establishments in the region. It has the most outstanding market capitalization on the Nairobi Stock Exchange (NSE). Its recent impressive share price of 39 Kenyan Shillings per share, leaves little or no doubt about its profitability.
As part of its strategies aimed at enhancing its effectiveness in the area of Customer care, the company is looking towards transferring a number of services to its regional offices. So far Safaricom’s numerous strategies, have made it possible for its users to access its numerous services easily and conveniently.
Read also: Shares for Safaricom reach New high
This includes purchasing its shares via the internet and its mobile money service; M-Pesa.
Regardless of the the potential risks connected to stocks investments, majority of today’s successful entrepreneurs continue to make substantial investments in stocks as one way to accumulate wealth over a period of time.
If you are patient and time your portfolio correctly, you will enjoy impressive capital returns. Keep in mind however, that investing should be a continuous process and there is never a perfect time to begin.
Be sure to consult with brokers, professionals and also carry out your own research before proceeding to purchase Safaricom shares and or shares of other companies.
The Safaricom Investment Cooperative (SIC)
To buy shares in Safaricom, you will need the Safaricom Investment Cooperative (SIC). The Safaricom Investment Cooperative (SIC) is open for all who are interested in joining and fit the following categories:
- Spouses of members of the Safaricom Investment Cooperative (SIC).
- Investors from corporate companies in the diaspora.
- Non-Safaricom Staff.
- Chamas and Saccos.
- Safaricom Staff.
When it comes to buying the available Safaricom shares on offer, Safaricom Investment Cooperative (SIC) grants both group memberships and individual memberships.
Do keep in mind that when you purchase shares at Safaricom, you are essentially taking part in the company’s gains as well as its profits, just like all other investors.
Also, Safaricom’s share price varies from time to time at the Nairobi Stock Exchange (NSE). While it went as high as 28 Kenyan Shillings per share in 2017, as at the time of posting this article, it was at 38 Kenyan Shillings per share. So buying more shares would potentially enable you reap greater profits from your investment.
How To Buy Safaricom Shares Via Bank And M-Pesa
In order to buy Safaricom’s shares, you will need to buy Safaricom secondary shares through the Safaricom Investment Cooperative (SIC). To do so simply:
- Ensure that you have an active M-Pesa account that is in your name.
- Next, deposit the amount you would like to purchase the shares with, to Safaricom Investment Cooperative (SIC)’s shareholding account.
- Go to the M-Pesa menu and select Lipa Na M-Pesa.
- Once there, choose the Paybill number option.
- Type in 163163. This is the M-Pesa Paybill number for Safaricom Investment Cooperative (SIC).
- Next and under the account name section, type the name of the individual member of Safaricom Investment Cooperative (SIC), or the group members’ names.
You can also pay directly to the Safaricom Investment Cooperative (SIC)’s bank account. Below are its bank details:
Safaricom Investment Cooperative (SIC)’s Bank – Cooperative Bank of Kenya Bank.
Safaricom Investment Cooperative (SIC)’s Account Number – 01120150100700.
Safaricom Investment Cooperative (SIC)’s Bank Branch – Cooperative Bank of Kenya Bank Westlands.
The Safaricom Investment Cooperative (SIC) only allows legitimate members who have regular standing contributions as well as a shareholding of at least 300 shares.
All members of the Safaricom Investment Cooperative (SIC) receive share allocations every week, twice a week on the Open Trading Market. The allocations are of course subject to the First In First Out protocol.
All members of the Safaricom Investment Cooperative (SIC) are allowed to buy as many shares as they can afford from the shares available in the secondary market.
The seller will however, define the share lots.
The share pricing must at all times be in compliance with the ceiling and floor prices which as at 2018, stood at 525 Kenyan Shillings and 490 Kenyan Shillings respectively.
The Safaricom Investment Cooperative (SIC) allows all members to float their shares as they please regardless of their location or where they are situated. To do so all they need to do is visit the Safaricom Investment Cooperative (SIC) membership portal. You can do so via this link: webportal.sic.co.ke
Members who wish to purchase their Safaricom Shares online, can do so by logging on to the same website.
Safaricom Shares Dividends
The Safaricom Investment Cooperative (SIC) regularly informs its legitimate members of their Safaricom Shares dividends or rebates, every financial year.
In a bid to further boost transparency the Safaricom Investment Cooperative (SIC) released a comprehensive statement which also comes with a verification calculator.
All rebates or dividends are taxable at a withholding tax rate of 10 percent as is required by the Income tax Act.
Another important thing to note is that all members of Safaricom Investment Cooperative (SIC) will be paid their dividends through either bank accounts, Safaricom’s M-Pesa mobile money services, or the Safaricom SACCO Fosa.
The Safaricom Investment Cooperative (SIC) issues checks for dividends as well.
During the allocation of dividends the Safaricom Investment Cooperative (SIC) will keep a predetermined amount which has been approved by all members.
This year (2021), will make it 13 years since Safaricom’s Initial Public Offering (IPO) was launched in 2008 by His Excellency; Mwai Kibaki. It has since gone on to reward its long term investors with desirable dividends and profits, even though it experienced lower performances at the early stages.
Since its creation in 2009 the Safaricom Investment Cooperative (SIC) has continued to move towards its goal of being the main or only investment medium across East Africa.
You can contact the Safaricom Investment Cooperative (SIC) directly via the details below, for more information.
For Membership and Safaricom Shares inquiries: +254 709 194102 & +254 709 194100.
To talk to the Safaricom Investment Cooperative (SIC) Customer care: +254 729 121212.
The Safaricom Investment Cooperative (SIC) Official Email Address: info@sic.co.ke
This article merely a guide, intended to show you just how to purchase Safaricom shares, ensuring that your money is very utilized. It is in no way, financial advice.
As stated earlier, ensure that you Do Your Own Research.
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