How to buy Equity Bank Kenya shares

  Banking

The New York Stock Exchange  (NYSE) traded about 23.21 trillion U.S. dollars in 2019. You can also start buying and selling shares in Kenya through the Nairobi Stock Exchange (NSE) with the help of an authorized custodian like Equity Bank.

Buying shares basically means buying part of the company, which then entitles you to be part of the company’s earnings through dividends.

Steps for buying Equity Bank Kenya shares

You can buy these shares in three steps.

  • Open an account with Equity Bank
  • Open a Central Depository System account (CDS account) with Equity Bank
  • Buy Equity Bank shares on the NSE

The Equity Bank CDS account will be the gateway for buying shares from Equity or any licensed stockbrokers in Kenya.

Let me take you through how to open an Equity CDS account.

1. How to open an Equity CDS account

Opening a CDS account with Equity Bank takes a few minutes. Visit a branch near you to get started. Here are the things you need.

  • An existing Equity Bank Account
  • A copy of your Kenyan ID/Passport
  • Passport size photo
  • K.R.A PIN
  • A fully filled and signed CDS 1 form

After meeting the listed requirements and creating the account, you will be ready to start trading in 24 hours.

2. Buying Equity Bank shares on the NSE

Now that everything is ready and you’re good to go, it is time to start trading. On the NSE, these shares are under the company name Equity Group Holdings.

Also, you can buy the shares at an Equity Bank branch with the help of a customer care representative or do it online.

The minimum number of shares you can buy is 100.

Online or mobile trading needs a bit of experience and understanding of how the stock market works. For a start, the physical trading option at a branch should work just fine for you.

For the Equity Bank online share trading option, one can buy and sell Equity shares via the bank’s self-service portal. Also, there are certified NSE stockbrokers that can facilitate your trading.

The above steps explain how to trade Equity Bank shares through a CDS account with the bank. What if you already have an account with another bank? There’s the option to have a direct CDS account with the Central Bank of Kenya (CBK).

3. Opening and Buying Shares Using a CDS account with CBK

This method lets you open a CDS account directly from the Central Bank of Kenya. After the account is ready, you can start trading shares.

Here are the requirements for opening a CBK CDS account.

  • Filled CDS account specimen signature mandate card collected from any CBK branches in Kenya. The card should be filled in block letters.
  • Two signatories
  • One colour passport size photograph with the reverse side having your bankers’ stamp.
  • Original and copy of the National ID/alien certificate/valid passport for verification.
  • Evidence of income which can either be a bank statement or a payslip.

Once all the documents are verified, you will wait for 7 working days for the account to be opened.

4. Buying Shares Through a Third Party

You can also open a CDS account through a third party. A third party can be a commercial bank, stockbroker, investment company or investment advisor licensed by the Capital Markets Authority.

With this method, you will also need to provide the required documents and they will help you with the whole process of opening the trading account and how to buy Equity Bank shares.

At this point, you should be ready to start trading. After your first purchase, you can opt to buy more shares or check other available options. It’s fine to ask what are the best shares to buy in Kenya in 2020. Check the performance trend of a company and how steady it performs on the stock market rankings.

Besides EQTY, you can consider buying shares from the following companies listed on the NSE.

  • Centum Investment
  • BAT Kenya
  • KCB Bank
  • Crown Paints
  • ARM Cement
  • Kakuzi
  • Limuru Tea
  • Safaricom
  • Jubilee Holdings

What is the Equity Bank Share Price Today?

The share price continuously changes based on various factors. But the 52 weeks range of the share price is between 28.00 and 55.50 KES. You need to confirm the share price when you want to buy.

For more info and inquiry, you can reach out to Equity Bank Kenya customer care contacts below.

  • Equity Bank head office address: P. O. Box 75104-00200, Nairobi, Kenya. 
  • Help desk contact: 0763063000
  • Mobile number: 0763026000
  • Twitter handle: @KeEquityBank
  • Official Facebook page: Equity Bank Kenya

 You can also visit any Equity Bank branch in the country and get help from the customer care help desk.

Conclusion

The main requirement for buying Equity Bank shares is a CDS account. You can open this account at Equity or any other licensed stockbroker and you’ll be ready to start trading. It’s now easier than before to buy shares. Have you been thinking of investing in company shares?