Step-By-Step Guide: How to Sell Safaricom Shares in Kenya
So, you are one of Safaricom’s shareholders and you would like to know how to sell the shares (perhaps you are in need of liquid cash or you just want to cash out some of your shares for some reason).
Well, below you will learn how to sell Safaricom shares in Kenya (the easiest procedure).
Let’s jump in.
How to Sell Safaricom Shares in Kenya
Here is the thing: There is nothing really special that you need to do when it comes to selling Safaricom shares in Kenya.
In fact, you simply request your Broker to sell your Safaricom shares for you (and wait for your money after a few days).
To add, don’t forget to mention the number of shares you are planning to sell.
That’s all- and it is the easiest way to sell Safaricom shares in Kenya.
How to sell safaricom shares online
You can place your request online via your broker’s online shares trading app/platform.
The other convenient alternative is sending an email (if you have an email indemnity) to your stock broker, informing them that you wish to sell your Safaricom portfolio (and the exact number of shares you are selling).
Again all you have to do after this is wait for your cash.
How much will it cost to sell your Safaricom shares?
It is true that brokers charge and the commission sometimes vary.
However, on average, stock brokers in Kenya charge between 1.8 to 2.5% of the transaction value- but ask your broker to be sure.
Quick Tip: Just to give you an idea, brokers generally charge 2.1% of the value of the transaction, if it is below Kshs100,000 and 1.8% of the total transacted value, if it is above Kshs.100,000.
When is the best time to sell Safaricom shares in Kenya?
Short answer: it all boils down to your risk appetite, financial goals, investment strategy, and things like market research
Of course, if you’re after profits like most people, you want to sell at a higher price than you bought your shares at, unless you are having a financial emergency.
So you need to do enough research before parting with your shares – analyze the prevailing Safaricom share price, future prospects, company fundamentals, and more.
You obviously do not want to regret your decision later (keep in mind that safaricom is the biggest Telco around and expert analysis has repeatedly pointed to the company having a super bright future).
How to Sell Safaricom Shares in Kenya – Frequently asked questions (FAQs)
What is the minimum amount of Safaricom shares can I sell?
There is no minimum amount or maximum limit of shares you can sell.
For example, if you have 1000 Safaricom shares and you want to sell 292 of these shares, it is possible.
However, it is important to remember the following:
There is the ‘Normal’ option where you buy shares in multiples of 100s and ‘Odds’ option which allows you to sell/buy any number of shares.
You, therefore, want to choose “odd” and not “normal” when placing the sales order (to sell your 292 shares).
Apply this logic once you have decided on the number of shares you want to sell (if you are not clearing your whole Safaricom stock).
How long does it take to sell Safaricom shares?
Now, there is no guarantee that your shares will sell the same day or exactly as you had instructed your broker (even in regard to the quantity and price).
That said, Safaricom shares move fast and it is safe to expect the transaction to be concluded within 2 working days.
How will I receive my payment?
After your shares are sold, the brokerage firm will deposit funds into your CDS account.
Just remember that brokerage firms usually deposit your cash by the end of three working days (from the time of completing the sale).
Again, you can check if your cash has been deposited by logging into your CDS account online.
To sell your Safaricom shares, simply approach your stock broker and have them do it for you at the NSE (Nairobi Securities Exchange).
You can even place the selling request online from the app or via email.
That’s it, for now.