Deposit share certificates in Kenya: 9 steps to move into CDS

Updated 10 November 2026

To deposit share certificates in Kenya, take the paper certificates to a Central Depository Agent (a stockbroker, investment bank or custodian bank), fill and sign a Securities Deposit Form (CDS 2) using the same signature you used when buying the shares, and hand the form and certificates to the agent. The agent sends them to the company’s share registrar for verification, and once confirmed, CDSC credits the shares to your CDS account. Until that happens you cannot sell those shares.

Checked on 8 November 2026 against the Central Depository and Settlement Corporation’s FAQ and investor information, and the stockbrokers’ association KASIB knowledge base.

Contents: Why · Before you start · Steps · Signature and names · After deposit · Pitfalls · FAQ

Why you must deposit share certificates before selling

Kenya moved listed shares from paper to the Central Depository System, which CDSC says was commissioned in November 2004. Through a process called immobilisation, details from paper certificates are entered into the electronic system. CDSC’s FAQ is direct: if you hold certificates, you must open a CDS account and have the shares deposited, “otherwise you will not be able to trade in those shares”.

This matters to people who bought shares in the 1990s or early 2000s and kept the certificates in a drawer, and to families sorting out a relative’s papers. The certificates may still represent real holdings, plus any bonus shares or splits since.

Before you deposit share certificates: open a CDS account

Deposits go into a CDS account, so you need one first, or must be ready to open one at the same visit. CDSC lists the documents for an individual account as your original ID or passport and a copy, two colour passport photos, your KRA PIN certificate and a signed CDS 1 form. Our guide to opening a CDS account covers the options, including CDSC’s Dosikaa app.

How to deposit share certificates, step by step

CDSC’s FAQ sets out the process:

1. Visit a Central Depository Agent with the certificates you want to deposit.
2. Make sure you already have a CDS account, or open one there.
3. Get a Securities Deposit Form (CDS 2); the agent will help you fill it in.
4. Sign the form with the signature you used when you bought the shares.
5. Return the form with the certificates listed on it.
6. Collect a duplicate copy of the completed form, countersigned by the agent, as evidence of your deposit.
7. The agent forwards the form and certificates to the company’s share registrar for verification.
8. When the registrar confirms the certificates are genuine, it sends the verified forms to CDSC and the shares are credited to your CDS account.
9. Once credited, you can trade the shares.

Signature and name issues when you deposit share certificates

The signature rule is the step most likely to cause trouble. Signatures change over decades, and the registrar compares your CDS 2 signature with its records. If yours has changed, tell the agent before signing and ask what supporting evidence the registrar will accept. The same applies if the name on the certificate differs from your current ID. For certificates of a person who has died, the shares must first be transmitted to the estate or heirs; ask the registrar or agent about that process before attempting a deposit.

After you deposit share certificates

• Keep the duplicate CDS 2. It is your proof that you handed over the certificates.
• Watch your statement. CDSC sends a statement at month-end if your account had activity, and you can request an interim statement for KSh 50.
• Check bonus and split shares. Holdings may have changed since the certificate was issued; once in CDS, future bonuses and splits are credited automatically.
• Update dividend details. Use your CDA to update contact and dividend preferences.

For context on what older holdings may have paid over the years, see our CIC dividend history or comparisons such as Safaricom vs EABL shares.

Pitfalls to avoid

• Do not hand original certificates to anyone who is not a licensed CDA, and always get the countersigned duplicate.
• Do not cut, mark or laminate certificates.
• Do not expect to sell immediately; the shares can only be traded once the registrar has verified them and CDSC has credited your account.

Deposit share certificates FAQ

Where do I deposit share certificates in Kenya?

At a Central Depository Agent: a licensed stockbroker, investment bank or custodian bank.

Which form do I use to deposit share certificates?

The Securities Deposit Form, CDS 2.

Can I sell shares without depositing share certificates?

No. CDSC says certificated shares must be deposited into a CDS account before they can be traded.

Who verifies the certificates?

The company’s share registrar, before CDSC credits the shares.

What signature should I use?

The signature you used when buying the shares, according to CDSC.