A Roadmap to investing in Safaricom shares

December 27, 2023 Majira Media

Investing in Safaricom shares presents a compelling opportunity for individuals seeking exposure to one of East Africa’s telecommunications giants. As the leading mobile service provider in Kenya, Safaricom has demonstrated robust financial performance and market dominance.

This article outlines the key steps and considerations for those looking to participate in the dynamic world of Safaricom stock, emphasizing the importance of research, selecting a reputable brokerage, and staying informed about market trends and the company’s performance.

How to buy and invest in Safaricom shares

To buy and invest in Safaricom shares, follow these steps:

1. Research and Understand: Before investing, research Safaricom’s financials, performance, and market trends to make an informed decision.

2. Choose a Brokerage: Select a reputable stock brokerage that allows international investors to trade on the Nairobi Securities Exchange (NSE). Ensure the brokerage provides access to Safaricom shares.

3. Account Setup: Open a trading account with the chosen brokerage. This typically involves providing personal information, proof of identity, and funding the account.

4. Deposit Funds: Deposit funds into your trading account. Most brokerages accept bank transfers or other specified payment methods.

5. Place an Order: Use the brokerage’s trading platform to place a buy order for Safaricom shares. Specify the quantity and price at which you want to buy.

6. Monitor Investments: Keep track of your Safaricom shares through the brokerage’s platform or other financial tools. Stay informed about market news and Safaricom’s performance.

7. Dividends and Selling: If Safaricom pays dividends, you may receive them directly into your trading account. If you decide to sell shares, use the brokerage’s platform to place a sell order.

8. Tax Considerations: Be aware of tax implications associated with buying and selling shares in the relevant jurisdictions. Consult a tax professional if needed.

Remember, investing in stocks carries risks, and it’s crucial to make decisions based on thorough research and your financial goals.

Read:How to apply for a Safaricom Mpesa Visa card