These are the results of an informal research survey on stock brokers. It is the by-products of three different queries on information; one from a friend who asked me where to buy shares, second from Omani who had asked me to compare the various stockbrokers and third was a request from Afromusing who had asked how one could buy NSE shares while living in the US.
One first needs to open a CDS account which is free; by filling and signing a CDS 1 form, and providing two passport size photographs and a copy of your ID/Passport. The CDS 1 forms are available at all stockbrokers and can usually be mailed to applicants upon request.
Here are the survey results in reverse order:
E-mail not working
Ashbhu Securities Ltd. Finance House, 10th Floor, P.O. Box 41684 Nairobi Tel. 210178/212989 Fax. 210500 E-Mail: firstname.lastname@example.org
Nyaga Stockbrokers Ltd. Nation Centre, 12th Floor P.O. Box 41868 Nairobi Tel. 315628/9 Fax. 315630/315748 E-Mail: email@example.com
E-mail and web site not working
Suntra Investment Bank Ltd. Nation Centre, 10th Floor P.O. Box 74016 Nairobi Tel. 337220 Fax. 224327 E-Mail: firstname.lastname@example.org WEB: http://www.suntrastocks.co.ke
Francis Thuo & Partners Ltd. International Life House, 13th Floor P.O. Box 46524 Nairobi Tel. 226531/2/3 Fax. 228498 E-Mail: email@example.com WEB: http://www.ftbrokers.com
Kestrel Capital (Ea) Limited Hughes Building, 7th Floor P.O. Box 40005 Nairobi Tel. 251758 Fax. 243264 E-Mail: firstname.lastname@example.org WEB: http://www.kestrelcapital.com
No response to e-mail within 24 hours and web site not working
Discount Securities Ltd International House, 3rd Floor P.O. Box 42489 Nairobi Tel. 219552/38 Fax. 230987 E-Mail: email@example.com WEB: http://www.e-bsolutions.biz/discount
Solid Investment Securities Ltd Contrust House, 6th Floor P.O. Box 63046 Nairobi Tel. 244272/9 Fax. 244280 E-Mail: firstname.lastname@example.org http://www.solidkenya.com site under construction but not active
Standard Investment Bank Ltd. Hazina Towers, 17th Floor, P.O. Box 13714 Nairobi Tel. 220225/240296/227004 Fax. 240297 E-Mail:email@example.com WEB: http://www.standardstocks.com site under construction
No response to e-mail within 24 hours
Ngenye Kariuki & Co. Ltd: Travel (UTC) House, 5th Floor, P.O. Box 12185 Nairobi Tel. 224333/226250 Fax. 241825 E-Mail: firstname.lastname@example.org
Crossfield Securities Ltd IPS Building, 5th Floor, P.O. Box 34137 Nairobi Tel. 246036/245971 Fax. 245971 E-Mail: email@example.com
Reliable Securities Ltd. Standard Building, 3rd Floor P.O. Box 50338 Nairobi Tel. 241350/4/79 Fax. 241392 E-Mail: firstname.lastname@example.org
African Alliance Kenya Ltd Kenya Re Towers, Ground Floor, Upper Hill, P.O. Box 27639, 0506 Nairobi Tel. 2735013/2735154/2735138 Fax. 2731162 E-Mail: email@example.com
Sterling Securities Ltd. Finance House, 10th Floor P.O. Box 45080, 00100 Nairobi
Tel. 213914/244077 Mobile: 0723153219/0734219146 Fax. 218261 E-Mail: firstname.lastname@example.org
CFC Financial Services – Stockbroking Division Corner House, Ground Floor P.O. Box 47198 – 00100 Nairobi Tel. 221452/3 Fax. 218813 E-Mail: email@example.com FYI: These are the brokers I use
4. APEXAFRICA INVESTMENT BANK LTD
Rehani House, 4th Floor P.O. Box 43676,Nairobi Tel. 242170/220517 Fax. 215554
E-MAIL: firstname.lastname@example.org 3 hours to respond to my e-mail
WEB: http://www.apexafrica.com site is a bit basic, and not updated much
Costs: 2.1% if transaction is worth less than 100,000 and 1.8% if above 100,000
3. DYER & BLAIR INVESTMENT BANK LTD
Loita House, 10th Floor P.O. Box 45396 Nairobi Tel. 227803/4/5 Fax. 218633
E-MAIL: email@example.com 25 hours to respond to e-mail
WEB: http://www.dyerandblair.com Web site allows online account management, is up to date, but rather slow
Minimums: 100 shares per transaction
Commission: 2.1% for any deal less than 100,000 shillings and 1.8% for any transaction amount above that. Also charge revenue stamp duty of two shillings for every ten thousand shillings.
2. FAIDA SECURITIES LTD
Windsor House, 1st Floor P.O. Box 45236 Nairobi Tel. 243811/2/3 Fax. 243814
E-MAIL: firstname.lastname@example.org 24 hours to respond to e-mail
WEB: http://www.faidastocks.com Have online account management and their web site is up to date
Minimums: 100 shares per transaction
Commission: 2.1% for transactions below Kshs100,000 and 1.8% for transactions above Kshs 100,000.
1. FRANCIS DRUMMOND & CO. LTD.
Hughes Building, 2nd Floor P.O. Box 45465, Nairobi Tel. 318690/318689 Fax. 223061
E-MAIL: email@example.com e-mail response in 2 hours.
WEB:http://www.francisdrummond.com The web site is updated daily with company news and disclosures. They also have online account management features enabling clients to trade and manage their accounts through the web site, at no extra charge and many Kenyans in the diaspora are already using this service.
Minimums: starting trade is 100 shares for new clients
Commission: For purchases above 100,000 shillings, charges are 1.8% and below 100,000, charges are 2.1%.