How to Open a CDS Account in Kenya

Thinking of investing in shares or government securities in Kenya? A CDS (Central Depository System) account is essential before you can buy or sell on the stock market or bid for treasury bonds. Getting one isn’t hard, and once you’ve done it, opportunities open up. I’ll walk you through everything: quick route, full steps, pitfalls, and what to expect.

The Easiest Way (Quick Setup)

If you want the fastest route and all your documents are ready:

1. Visit a Central Bank of Kenya (CBK) branch or an authorized Central Depository Agent (CDA).

2. Pick up a CDS mandate or specimen signature card; fill it in BLOCK LETTERS.

3. Attach a recent coloured passport photograph, certified by your bank.

4. Submit your original National ID (or Passport) and a certified copy.

5. Your CDS account number will be issued in about 5-7 working days. (centralbank.go.ke)

Step by Step Guide

Method 1: Through Central Bank of Kenya

1. Go to any CBK branch or currency center in cities like Nairobi, Mombasa, Kisumu, Eldoret, Nakuru, Meru, Nyeri or Kisii.

2. Obtain the specimen signature mandate card (for individual or joint account).

3. Fill the card in block letters, clearly, with no alterations or errors.

4. Attach:
   • a recent coloured passport size photograph (bank certified on the back)
   • original and copy of your valid National ID or Passport (or Alien Certificate)

5. Have your bank (a licensed commercial bank) certify the card: two authorised signatories must stamp and sign.

6. Submit everything to CBK (or drop off at agent bank or branch).

7. Wait about 7 working days to receive your CDS account number.

Method 2: Through a CDA (Stockbroker, Commercial Bank, or Investment Bank)

1. Identify a licensed CDA (stockbroker, investment bank or custodian bank) you wish to use.

2. Get their CDS 1 or equivalent account opening form.

3. Submit the same base documents: ID/Passport, passport photo, KRA PIN, proof of bank account etc.

4. Complete any extra forms or signatures the CDA requires.

5. They will process and issue your CDS number, often within a few business days.

Important Notes & Tips

• CDS accounts opened directly with CBK are free; CDAs may charge small fees for account opening or maintenance. ([centralbank.go.ke](https://www.centralbank.go.ke/images/REQUIREMENTS%20FOR%20OPENING%20A CDS%20ACCOUNT-ind.pdf))

• You cannot open a CDS account as a minor (i.e. under 18); only valid for individuals aged 18+ or corporate entities.

• All names and information on your forms must match exactly those on your ID documents. No spelling errors or mismatches.

• The photo must not be stapled or glued to the card; the back of the photo must be bank certified.

• Keep copies of everything you submit so you can follow up if there’s delay.

FAQs

Q1. What is a CDS account?
It is an electronic account where your shares or securities are held securely; you need it to trade on the Nairobi Securities Exchange or invest in CBK securities via approved agents.

Q2. Do I need a bank account to open a CDS account?
Yes; CBK requires that you have a commercial bank account that can certify your mandate and handle dividend or interest payments.

Q3. How long does the application take?
Typically about 5-7 working days if all your documents are in order and certified properly.

Q4. Can foreigners open a CDS account?
Yes, non-Kenyans or those living abroad can use authorized agents or nominee services; having a local bank account helps.

Q5. Is there a fee to keep the CDS account active?
If opened directly with CBK, usually no fee for opening or maintenance; CDAs may apply small charges depending on their policies.

(cdsckenya.com)