SBG Securities yesterday launched M-Shares, the country’s first-ever mobile platform on a USSD Code *209#.
On M-Shares, investors can directly buy and sell shares on the Nairobi Securities Exchange (NSE) in addition to accessing real-time market information.
The self-service platform is accessible on USSD, thus availing it to a wider pool of investors with a mobile phone. This is another first for SBG Securities, a subsidiary of Stanbic Holdings, which pioneered iTrader, an online share trading platform, into the Kenyan market in November 2010.
Besides trading and accessing market information, investors can also manage their CDS (Central Depository Services) accounts and load the account using mobile money.
Phillip Odera – Chief Executive Stanbic Bank, and Bethuel Karanja the Executive Director at SBG Securities shake hands after launching M-shares
Speaking during the official launch of M-Shares at the NSE, Stanbic Bank Chief Executive Philip Odera, said it has opened a new and convenient investment opportunity for all Kenyans.
“We are proud to be part of this groundbreaking platform that effectively removes barriers that previously stood in the way of investors interested in the NSE. On mobile, investors can access and trade on the NSE from wherever they are. This continues a journey to drive financial inclusion through enhanced access to capital markets that we began in 2010 to facilitate online trading of shares on iTrader,” Mr Odera added.
Until the introduction of iTrader in 2010, investors could only transact on the NSE through brokers. The launch of M-Shares now further enhances access to the bourse via the mobile phone. Latest statistics from the Communication Authority indicate that mobile penetration in Kenya currently stands at 86.2 per cent, with 39.1 subscriptions.
“The mobile phone is part of the Kenyan lifestyle. We aim to further enrich this lifestyle by providing a convenient platform for investing on the NSE. At SBG Securities, we constantly innovate to deliver convenient solutions to our customers. This is the reason we continue to trailblaze for the industry” Mr Odera concluded.
SBG Securites has set up a virtual support team at its contact centre to provide support to M-Shares clients and to answer queries.