How to buy Safaricom shares Safely-3 Sure Ways

Safaricom is a Kenyan telecommunications company that has been providing mobile phone and other communications services to the people of Kenya for more than 20 years. The company provides mobile services, fixed telephony, internet access, and data transmission. Safaricom shares can be bought through their stock exchange platform at the Nairobi Securities Exchange (NSE) or you could also buy them from stoke brokers such as Safaricom Investment Co-operative, Stanbic, Uchumi Securities, or Barclays Bank Kenya. Here is a detailed guide on how to buy Safaricom shares safely.

The safest way to buy Safaricom shares is through Safaricom Investment Co-operative (S.I.C). SIC was established in 2009 and was set up by Safaricom to give Kenyan investors a chance to invest in the company. Most of the members of this co-operative are Safaricom staff and employees. But members of the public can also buy shares at SIC as long as they meet strict requirements such as having an active bank account, proof of income, and employment status.

The process of buying Safaricom shares through SIC is very simple. You are first required to be a member of SIC. We are first going to look at the process of becoming a SIC member.

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How to become a member of Safaricom Investment Co-operative (SIC)

There are two main ways you can become a member of Safaricom Investment Co-operative:

  • Individual membership
  • Group Membership

Individual Membership

To become an individual SIC member, here is what is expected of you:

  • You should buy a minimum of 500 shares at Ksh. 52.5 per share.
  • Pay a non-refundable admission fee of Kshs 10,000.
  • Submit to a minimum monthly contribution of Ksh. 3,000.
  • Therefore, you pay a total of Ksh. 36,500.
  • Fill in a registration form and attach a passport photo, copy of ID, copy of KRA PIN, and proof of payment.

Group Membership

  • A Chama, a self-help group, an investment company, or a Sacco can join.
  • The minimum monthly contribution for a group is Ksh. 15,000, registration is Ksh. 25,000 and the minimum number of shares is 1,500 shares.

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How to buy Safaricom shares through SIC

After you have become a member of SIC, here is how to go about buying Safaricom shares.

Secondary trading of shares is allowed by the Safaricom Investment Co-operative. Secondary trading of shares is a process where a member who has bought the shares from SIC, sells them to another person.

You can buy secondary shares by depositing money into the trading account. Safaricom allocates shares every week in a cycle of 7 working days provided the trading market is open. However, you should know that shares are allocated on a First in First Out (FIFO) basis.

There are three approaches you can take to buy Safaricom secondary shares:

  • Mpesa
  • Bank
  • Online

How to buy Safaricom shares through Mpesa

  • Open your Sim Toolkit app
  • Navigate to Lipa an Mpesa
  • Select the Pay bill option and use 163 163 as the pay bill number.
  • For the account number, key in your individual name or the names of the members of the group.

How to buy Safaricom shares through Bank

  • Use Co-operative Bank of Kenya.
  • Name: Safaricom Investment Co-operative
  • Bank Account Number: 01120150100700.
  • Branch: Westlands.

How to buys Safaricom shares online

Safaricom Investment Cooperative allows members to float share as they please regardless of their location through the SIC membership portal at If a member wants to buy Safaricom shares online, they can do so by logging into the web.

Safaricom share dividends

Safaricom communicates to its qualifying members about their dividends for each financial year. To enhance transparency, Safaricom discloses a comprehensive statement accompanied by a verifying calculator to members. All rebates are taxable at a rate of 10% withholding tax as required by the income tax Act.

It is worth noting that all remated members are paid through Safaricom Sacco Fosa, Mpesa money transfer services, or Bank accounts. SIC also writes checks for all dividends received. SIC retains a specified amount approved by members during the allocation of profits.

How to contact Safaricom Investment Co-operative

This is how you can contact SIC if you need more assistance:

Head Office: 4th Floor, Westcom Point Building, Opposite Safaricom Headquarters, Westlands.

Customer care

Phone: +254 729 121 212

Share and membership inquiries

Phone 1: +254 709 194 100

Phone 2: +254 709 194 102