How to buy Absa Bank Kenya shares online

How to buy Absa Bank Kenya shares online

By Nairobi Stocks Review

Absa Bank Kenya is among the largest banking and financial services companies in the country. It was previously known as Barclays Bank Kenya before it rebranded in 2020. As a prospective investor, you might want to know how to buy Absa Bank shares online. If you are the curious type, you might also want to know who owns Absa Bank Kenya.

Absa operates more than 120 bank branches and has a network of 240 ATMs across the country. It offers services such as loans and savings accounts to individuals, businesses and government agencies. If you own Absa shares, you become a shareholder and can participate in the company’s decisions such as electing board members. Moreover, you may earn dividends.

Who owns Absa Bank Kenya?

Although its name has changed over the years, the bank’s history in Kenya goes back to 1916. It started in Mombasa as a branch of South Africa’s First National Bank. It took on the Barclays brand in 1925. South Africa-based Absa Group is the largest shareholder in Absa Bank Kenya.

Where and how to buy Absa Bank shares

Absa Bank Kenya shares are listed on the Nairobi Securities Exchange and trade under “ABSA” ticker symbol. To be able to invest in the stock, you will need to have a CDS account. (Read How to open a stock trading CDS account in Kenya).

Once you set up the stock trading account, you can proceed to buy Absa shares. You will need to decide the amount of shares you want to purchase and place your order. Remember that the minimum number of shares you can buy is 100 shares.

How to buy Absa Bank Kenya shares online

The ability to buy and sell shares online offers investors the convenience to access the stock whenever they want from wherever they are. You may be able to buy Absa shares online depending on your stockbroker.

Stockbrokers in Kenya that support online trading are Faida Investment, Kingdom Securities, Kestrel Capital and Old Mutual Securities. You can also buy and sell shares of NSE-listed companies online if you have a CDS account with Dyer and Blair, Suntra Investment, KCB Capital, Sterling Capital, Genghis Capital and SBG Securities. (Read How to choose the best stockbroker for beginners).

How to buy Absa shares online with Bonga Points

If you are a Safaricom subscriber and have accumulated Bonga Points, you can use the points to invest in stocks at the Nairobi Securities Exchange. Here is the process:

  • Go to MySafaricom app or dial *126# on your phone
  • Choose Lipa Na Bonga
  • Enter your stockbroker’s Paybill number (You can obtain this from the broker’s website)
  • Enter your CDS account number

You can buy shares with Bonga Points if you have a CDS account with Old Mutual Securities, Kingdom Securities, Dyer & Blair, ABC Capital, Faida Investment and Suntra Investments. The other brokers that support stock purchase with Bonga Points are Francis Drummond, NCBA Capital and AIB-AXYS.

When buying shares, five Bonga Points are worth Ksh1. Therefore, the amount of Bonga Points you need to buy Absa shares will depend on the share price and the quantity you want to purchase.

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