Custody and Registrars enhances service offering
Written by CIO Staff Writer
Monday, 24 January 2011 11:54
As efforts to strengthen Kenya's equity
markets continue to gain momentum, Custody and Registrars a leading
share registry and business process outsourcing firm has confirmed the
finalization of a project geared at delivering value added services.
With anticipated demand for electronic based services, the firm
has invested heavily in Information Technology (IT) based solutions to
as part of a strategic plan to deliver cutting edge services.
Speaking about the firm's ongoing capacity
enhancement initiatives, Custody and Registrars General Manager Mrs.
Kerry-Ann Makatiani explained that the firm is now well positioned to
support a wide range of electronic based share registry services.
"Custody and Registrars has covered very good ground in laying
the groundwork for the adoption of electronic share registry management
services to meet the increasing interest in these services, Mrs.
And added: "We have also noted the shift
over the recent years to bonds, rights and bonus issues as companies
recapitalize for business growth. We are well equipped to actively
support our clients through these business transactions as our operating
systems and processes are robust."
Among other elements, Custody and
Registrars is now in a position to offer electronic annual reports and
electronic management of shares accounts.
The firm has also enhanced the
functionality of SharePower, a web based system that allows shareholders
and listed companies to track and monitor their investments online and
on their mobile phone. The system comprises of various modules,
features, functions and produces various reports such as enquiries,
reporting and printouts further enhancing the clients' convenience.
While further clarifying on SharePower's
functional capacity, Mrs. Makatiani explained that the system is a vital
tool for listed companies and the investors providing Issuers access to
monitor their registers' movements at any given time and extract any
information on the shareholding structures, taxation positions, dividend
history as well as free alerts of proceedings within the market.
The system she added, also allows uploading
of electronic annual reports while empowering shareholders to evaluate
their portfolio balances, transaction history, check accuracy of their
standing orders e.g. bank/third party mandates, EFT details, accuracy of
names and contact details as well as dividend payments history.
Shareholders will also receive alerts on
their mobile phone on AGM's, dividend payment announcements etc. They
will be able to track and monitor their shares anywhere, anytime in
their own comfort.
Registrar Custody Firm to Go Regional
Jeremiah Kiplang'at- East African Newspaper
28 March 2011
Custody and Registrars, a share register management firm, will
this year roll out branches across the EAC region with an eye to
opportunities arising from the ongoing regional integration.
The firm which specialises in storing, safekeeping and
processing of listed companies' registers, says it hopes to grow its
business by tapping into companies listed in regional bourses. Kerry-Ann
Makatiani, the firm's general manager, said it will first put up
offices in Tanzania by June before heading to Uganda, Rwanda and
"We are currently serving some companies that are listed on
bourses across the region but we want to go bigger into the business in
the Community, " said Ms Makatiani.
Some of the listed companies who are clients of Custody and
Registrars are listed on the Nairobi Stock Exchange with a regional
presence including Kenya Airways, East Africa Breweries, Barclays Bank,
Standard Chartered and Nation Media Group.
Kenya Airways, NMG, EABL, are trading in all the three stock
markets: NSE, Uganda Securities Exchange, and the Dar es Salaam Stock
Exchange. Centum Investment is listed in Kenya and Uganda.
"As a capital market leader and registrar of preference by major
listed companies in Kenya, Uganda, Tanzania and other regions, our
unparalleled experience and capabilities in Share Registry, and
Corporate and Advisory services are unrivalled in serving clients. We
plan to capitalise on these assets with our business growth plans." Ms
The firm's move to cover all East African countries will also
serve to enhance investor relations across the regional bourses. Having
shareholders across the region poses a big challenge in organising
annual general meetings sometimes requiring shareholders to travel to
one country for meetings.
But Custody and Registrars said it is pursuing a strategies of
rolling out electronically managed AGMs. "Electronic AGMs is perfect for
companies with large and geographically spread shareholders and
involves adoption of modern technologies such as telecasts, and video
conferencing," said Ms Makatiani. "Such developments will require an
enabling technology infrastructure and sufficient Internet penetration."
An investor monitors the digital board at the NSE. Photo/REUTERS
By MOSES MICHIRA
Monday, January 24 2011 at 00:00
Share registrar companies have stepped up automation of their
operations to ease updating of shareholder registers, transfer of
shares, dividend inquiries and related services that the custody firms
The companies also hope to capitalise on increasing share and
bond offers and the preference for electronic share accounts over
physical certificates to earn more revenues-with clothing and lifestyle
goods retailer Deacons Kenya having set the automation pace by becoming
the first non-listed company to issue electronic stocks.
Custody and Registrars (C&R) last week launched its
electronic share management platform, joining Image Registrars that
already has an automated registry system.
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Kerry-Ann Makatiani, the general manager of C&R, said the
move was in response to customer demand for faster and more convenient
share registry services.
"We have noted the shift in recent years to bonds, rights and
bonus issues as companies recapitalise for business growth, and are
equipping to support our clients through these business transactions,"
said Ms Makatiani.
Automation of services in the capital markets goes back to 2006
when the Nairobi Stock Exchange installed an automated trading system
for handling equity transactions.
Stockbrokers have since taken up the cue and launched online
trading systems that allow investors real time access to the market
where they can execute their buy or sell orders.
Bond trading has also been automated, sparking huge growth in
bond turnover last year when trading increased ten-fold to Sh500 billion
due to ease in transaction settlements.
Public listed companies have contracted share registrars to manage their shareholders' records.
Lawrence Kibet, the operations manager at Image Registrar said
online systems had cut back on the human traffic to the firm's premises.
"Many investors are now able to resolve most of their issues online with great convenience," said Mr Kibet.
Image Registrars handles the back office secretarial services
for mobile phone company Safaricom and power producer KenGen- the
counters with the largest number of shareholders at the Nairobi Stock
Previously owned by the Barclays Bank of Kenya, C&R handles
back office operations for 17 listed companies among them beer maker
EABL, investment company Centum and the Nation Media Group.
Recent fundraising activities involving listed companies and the
high equity turnover means more work for share registrars who update
shareholder registers every day.
Kenya: Press Releases: Custody and Registrars Moves to Exploit
Regional Opportunities Nairobi, 21 March 2011 --- Custody and Registrars
(C&R) Services, a leading share registry and business process
outsourcing (BPO) solutions provider, has formally announced plans to
extend its business coverage across East Africa as part of its corporate
growth strategies this year.
Speaking during an event to mark the firm's
25th anniversary, C&R General Manager, Mrs. Kerry-Ann Makatiani,
said the regional expansion plans aim to ensure that all listed firms
across the region receive superior custodial and share registry
services. The firm's move to cover all East African countries, Mrs.
Makatiani, added will also serve to enhance investor relations across
the regional bourses.
The announcement by C&R is particularly
expected to accelerate ongoing efforts to encourage cross listing bids
across the Nairobi Stock Exchange, Dar es Salaam Stock Exchange, Rwanda
Stock Exchange (formerly Rwanda Over the Counter Exchange), and Uganda
"Cost effective investor relations, with
shareholders domiciled in other countries, will become increasingly
challenging as these shareholders numbers increase from cross-listings
and regional growth of listed companies," noted Mrs. Makatiani. She
added: "As a capital market leader and registrar of preference by major
listed companies in Kenya, Uganda, Tanzania and other regions, our
unparalleled experience and capabilities in share registry and corporate
and advisory services are unrivaled in serving clients from recently
listed companies to large established multi-nationals. We plan to
capitalise on these assets with our business growth plans." said Mrs.
Established in 1986 and operating as
Barclays Advisory and Registrars Services (BARS), C&R was an in
house department of Barclays Bank of Kenya (BBK) set up to provide share
register services for the bank. In December 2006, the company was sold
as a going concern and rebranded as Custody & Registrars Services
The company has continued to maintain its
market leadership position and is now focusing on business growth
opportunities and ICT integration.
C&R also plans to introduce new
products and services to improve efficiency in dividend processing
options and improved transaction processing capabilities. The company
plans to capitalise on its recently launched SharePower product.
"SharePower is a value-added system that, in combination with our robust
core operating system, presents us with great potential for solutions
to address market needs."
A revolutionary shareholder management
solution is also available from C&R. One of the options the firm is
seeking to explore is electronic AGMs. For AGM management of large and
geographically spread shareholders, C&R is advising locally listed
firms to embrace ICT solutions.
"Some of these trends involve broadcasting
AGMs through the use of webcams to agreed locations, with shareholders
registering to participate electronically. However, we acknowledge that
such developments will require an enabling technology infrastructure and
sufficient internet penetration. Therefore, collective effort by all
stakeholders will be necessary," said Mrs. Makatiani.
Kenya: Shares Register Firm Extends Its Reach
John Gachiri- 18 March 2011
Stock market services firm Custody and Registrar (C&R) has
announced intentions to set up operations in Tanzania and Uganda, in an
expansion drive expected to shore up its revenues.
The firm, which offers shareholder register updating services
and handles transfer of shares and dividend inquiries to 18 listed
companies in Kenya said that it is opening two regional offices which
are expected to be operational by the second half of this year.
"We're at an advanced stage of opening regional markets in
Uganda and Tanzania," said CSR general manager Kerry-Ann Makatiani.
C&R marketing manager Beverlyne Wangari said that depending
on the success of the two new branches, Rwanda could be next on the
company's regional expansion plans.
Going regional will give C&R access to 11 listed companies
on the Uganda Securities Exchange (USE), 16 firms on the Dar-es-Salaam
Stock Exchange and 3 corporations on the Rwandan stock exchange.
C&R makes its money by maintaining share registry services
and company secretarial services for listed companies and business
process outsourcing firms.
Hemming in new clients will increase the firm's revenues and,
with more listings and rights issues expected to take place in 2011,
there is a bigger incentive for the firm to go regional.
TransCentury, British American Group and Bank de Kigali are all
expected to list by the end of the year. Tanzanian airline Precision Air
is also expected to list on the Dar es Salaam Stock Exchange next
C&R is also eyeing diversification into offering central depository services.
Immobilisation of share certificates is currently done at the Central Depository and Settlement Corporation (CDSC).
Ms Wangari said offering depository services would make it
easier for clients who want to immobilise shares for trading in
automated stock exchanges.
The Capital Markets Authority, through the proposed law -
Central Depositories (Amendment) Bill 2011 will open the door for
companies to offer depository services if passed.
• East Africa
Companies will however be required to increase their capital and
change their management structures before they can be licensed as
central depository firms.
For companies that will be licensed, they will benefit from
access to the commissions charged on transactions on bonds and shares
traded on the stock exchange.
CDSC earns 0.06 per cent for shares traded and 0.02 per cent for bonds.
C&R also plans to revamp its shareholder management solution
unit by facilitating electronic annual general meetings which would
save costs especially for firms that that are cross-listed on the
various exchanges. Infrastructure however poses a challenge