This archive report was first published on 3 October 2019.
CDSC is upgrading its system to improve efficiency and reduce paperwork.
As part of the upgrade, the corporation will suspend new user account creation and client account data updates from October 7th to 11th, 2019.
During this period, new investors will not be able to open a new CDSC account, and current investors will not be able to make changes to their data.
The new system, provided by Perago Group, an Italian company, will link central depository agents, custodian banks, and registrars in one system, reducing paperwork and enabling intra-day settlements.
CDSC carried out final tests on the new system in September 2019, under the supervision of the Capital Markets Authority, and resolved all pending matters.
Related stories: Hilda Njeru to serve as CDSC Kenya acting CEO after Rose Mambo’s exit and Active accounts at the CDSC decline by 25%.
