Paul Arithi 
The Central Depository and Settlement Corporation (CDSC) has announced the successful immobilization of 16 billion Safaricom PLC shares by Vodafone Limited, marking a significant move towards fully dematerialized securities.
CDSC said this transaction has resulted in the total number of Safaricom PLC shares held in electronic format within the Central Depository System (CDS) rising from 24 billion to 40 billion representing almost all of the company’s total issued shares dematerialized.
“This reinforces our commitment to facilitating secure efficient and transparent marketplaces that sustain investor confidence,” said CDSC.
CDSC noted the 16 billion shares were previously held in certificate format, which limited their ease of trade and transferability through the Nairobi Securities Exchange.
By immobilizing them into the CDS, they are now securely held electronically, significantly enhancing the liquidity, transparency, and overall efficiency of Safaricom PLC shares.
“Immobilization eliminates the risks associated with physical certificates including loss, forgery, delayed transfers, and trading while aligning with global best practices for modern capital markets,” CDSC noted.
The total number of shares held in the CDS now stands at 97 billion, representing 95 percent of the total shares in the Kenya equity market being immobilized.
This achievement builds on CDSC’s progress earlier in Q1 2025, when immobilized shares in the total market equity increased from 52 percent to 79 percent.
Jesse Kagoma, CDSC CEO, emphasized that this milestone is not just a numeric achievement; it signals growing institutional trust in CDSC’s infrastructure and a major step towards international best practices.
“We commend Vodafone Limited for taking the lead in this transition,” Kagoma said.
CDSC remains committed to facilitating fast, secure, reliable, and efficient post-trade operations for investors and other market participants as Kenya continues to build a robust digital financial ecosystem.
Investors with share certificates can engage their stockbrokers and registrars for facilitation and guidance on how to convert their physical shareholding records into electronic format.
