Central Depository System (CDS) account is an electronic account that holds your shares and bonds, and manages the process of transferring shares traded at the Stock Exchange. Prospective investors wishing to buy or trade in any Kenya Government securities are required to open a CDS account with the Central Bank of Kenya. The CDS account acts as the investor’s securities holding and trading account. Investors may choose to open the CDS accounts directly with the Central Bank of Kenya or open a client account through an authorized agent which includes, commercial banks, investments banks, stock brokers and investment advisors. It should however be noted that no fee is charged for opening and maintenance of the CDS accounts opened directly at the Central Bank of Kenya. CDS accounts may be opened in the names of individual investors or corporate entities.
To open a CDS account you can use the options listed below.
a. Through Central Bank of Kenya (CBK)
b. Through a proxy or third party
You can also opt to open a CDS account through a licensed stock broker, commercial bank or investment bank. Go with the necessary documentation and proof of identity. They will guide you through the process, and you may be required to pay a monthly maintenance fee of about Ksh 100. Normally you will have to wait for about 7 working days to get your CDS account. But its important to note that the party you approach for CDS account opening must be listed and licensed by Central Bank of Kenya and recognized by Capital Markets Authority.
c. People living in the diaspora
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Copyright © 2021 Victor Mochere. All rights reserved.
Copyright © 2021 Victor Mochere. All rights reserved.
Your site has very useful information. Keep up. I got very enlightening info on Treasury Bills and opening a CDC Account. Thanks