By Ronnie Wonder and Silvia Nyambura
Shareholders who own stocks through brokerage firm Crested Capital will no longer have to wait for long periods of time to get their money. This follows the introduction of a new product dubbed ‘prompt settlement’. The product allows clients to receive their funds through prompt bank transfers without having to wait the usual 5 working days it takes at the USE in the selling and buying process. In addition, Crested Capital has partnered with MTN to allow clients to buy shares, treasury bills and bonds through Mobile Money.
According to the firm’s Manager in charge of Equity Financing Joseph Kibuuka, these new initiatives will make it easier for clients to trade in the stock markets.
“Bank transfers will be the platform for all clients who choose to receive their funds through their bank accounts. The settlement procedures will be the same the only difference is we will fast track the process so clients can receive funds on time. To receive prompt payments clients should among others have all their shares immobilized in the Securities Central Depository (SCD), complete a sale order form and select the prompt order option affirmation which can be done by mail or any other recognized avenue of communication,
