Central Depository and Settlement Corporation (CDSC) has successfully converted 16 billion Safaricom shares into electronic format in a major step to modernize Kenya’s stock market.

These shares were previously held by Vodafone Limited in paper certificate format.

With this move by CDSC, almost all of Safaricom’s 40 billion issued shares are now being held electronically through the Central Depository System (CDS).

The digitization of the shares enhances transparency and makes it easier and safer for you as an investor to buy and sell Safaricom shares at the Nairobi Securities Exchange (NSE).

Previously, the paper-based share certificates were more difficult to trade and risked getting lost or forged.

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Moving the shares into the digital system makes trading faster, safer, and more efficient to match international standards for modern capital markets.

The move by CDSC on Safaricom shares has now pushed up the total number of shares held electronically in Kenya’s CDS to 97 billion, which is 95 per cent of the total equity market.

Just a few months ago, in the first quarter of 2025, this number stood at only 52 per cent, and then quickly increased to 79 per cent.

Speaking on this achievement, CDSC CEO Jesse Kagoma lauded Vodafone Limited for taking the lead in the significant transition.

“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,” said Kogoma.

CDSC has indicated that it will continue to push for a fully digital system where all shares traded in Kenya are held electronically.

The corporation urged investors who still hold paper share certificates to visit their stockbrokers or share registrars to get help converting them into electronic records.

The move by CDSC is part of Kenya’s broader goal to build a strong and trusted digital financial system and also in line with global best practices in stock markets.