Suntra, Postbank join hands to expand trading of shares

Suntra CEO Kinoti and Postbank MD Anne Karanja

Nairobi Securities Exchange investors in rural Kenya can now easily buy and sell shares at Postbank branches following a partnership with Suntra Investment.

Potential investors will also open new accounts to enable them trade in shares at any of the bank’s 99 branches countrywide.

The two firms expect the partnership to increase financial inclusion by providing access to shares, trading information and related investment services.

“Under the agreement, Suntra Investment customers will apply, sell or buy shares and get statements through a shared system,” said Suntra Investment Managing Director Luke Kinoti.

To prepare for the joint venture, Suntra trained Postbank employees for six months on how to use its online real-time agency module and trading platform.

Suntra will provide Postbank branches with daily market information to enable customers decide how to invest.

“Postbank employees will pass daily market information to clients who then will make their own decision,” Mr Kinoti said. “Postbank staff will not advise clients.”

Postbank Managing Director Anne Karanja said the partnership provides hope for financial inclusion at a scale not imagined a few years ago.

“This is good news because people in perceived remote and unbanked territories will now have access to financial services as Postbank has established branches in these areas,” she said.