What is a CDS Account?

CDSC stands for Central Depository and Settlement Corporation. Investors securities are stored electronically at CDSC. This eliminated the use of certificates in trading at the Nairobi Stock Exchange.

How Can I Sell My Shares in Certificate Form?


Certificates need to be immobilized into a CDS account in order to be able to trade the shares. This involves filling a CDS 2 form and submitting it together with the certificate to Dyer & Blair Investment Bank Ltd for forwarding to the registrar and CDSC for crediting to your CDS account.

How do I reactivate my account?

Client Trading accounts are considered dormant after 6 months of inactivity. In order to activate the account, the following is needed to be filled and sent to shares@dyerandblair.com with the subject “Client Activation”:

If your account is up to date;

a) Fill in the Client Activation Request Form Only

If your account is not up to date (KYC documents not updated);

a) Filled CDS-1 form

b) Internal Change Mandate

c) Client activation request form

d) Sign off of General Terms and Conditions

Please note that activation fee is Kshs 100

How do I Top-up my Account via MPESA


You can top up your account through MPESA in the following steps:

a) Go to LIPA NA MPESA on the Safaricom App or Sim Toolkit Menu. 

b) Select PAYBILL option

c) Enter Business No. 905200

d) Input Your CDSC account no. as Account Number (Please note, do not input your Mobile Number or Suffix e.g. LI) 

e) Enter Amount, confirm details and Send

You can also top up via Bank Transfer or Cheque Deposit to our bank accounts. Click here to see the full bank details

Why do I need to provide all these documents?


This is as a result of a new regulation from the Capital Markets Authority that requires stock brokers to carry out a due diligence on their clients. The process enables us to identify and ascertain relevant information pertinent to doing business with you. A key benefit of this process is that it will enable us to prevent identity theft, fraud and thereby protect your investment with us.


How long does it take to open a CDS Account?


CDSC account opening process should be done ideally within 36 hours if the account opening forms are in order and all the KYC requirements are in place. However, this may not always be the case.Where extra due diligence is done on a client in line with the KYC policies, the account opening process may extend beyond the 36 hours.For Dyer & Blair Investment Bank branches within Nairobi, the CDSC account opening process should be done within 36 hours of delivery to the branch.In all cases, clients are alerted by the KYC team immediately their CDSC accounts are opened, to allow them to fund their accounts in readiness for a trade.

How does one open a CDS account with Dyer & Blair Investment Bank?


After completing and signing the account opening forms and agreeing to the terms and conditions. The following are required:

For individual or joint account:

  • ID / Passport copy
  • 2 color passport size photos
  • Evidence of physical address (utility bill, lease or tenancy agreement)
  • Evidence of income (3 months bank statement or pay slip)

For a corporation:
  • Signed and sealed CDS 1
  • 2 colour passport sized photos, ID copies and utility bills of each director and signatory if any
  • Board resolution on approval of account opening including account signatories
  • Memorandum and articles of association
  • Certificate of incorporation
  • Company KRA PIN certificate
  • Evidence of physical residence (utility bill, lease or tenancy agreement)
  • Evidence of income of the business (bank statement)

*The originals of the above documents need to be certified by a commissioner of oaths/advocate

Foreign documents to be notarized by a notary public.

What % of Commission is charged on transactions?


Commission is charged on all transactions (Buying and Selling). For transactions above Ksh 100,000 it is 1.91% and 2.37% for transactions below Ksh 100,000 (inclusive of VAT)

Please note that there is an additional 14% VAT on brokerage commissions charged on transactions. This is following a new government directive passed on the 25th of April 2020. 

For example ; 
A buy order for 1000 shares at Kshs 10 per share amounts to Kshs 10,000

Brokerage commission= 2.37% x 10,000 = 237

What is the minimum amount required to invest in the NSE?


There is no minimum investment requirement. However, the minimum number of shares that can be sold or purchased is 100.