Investors on Nairobi Securities Exchange (NSE) will need to part with Sh100 a month to maintain their accounts, the Central Depository and Settlement Corporation (CDSC) has said.

“Dear Investor, effective July 15, 2022, CDSC will introduce a CDSC account maintenance fee of Sh100, per month payable annually,” the CDSC said in an SMS to investors.

The move is seen by many as helping to reduce the gap left by declining activities on the boss as investors move out of the market over elections and global recession concerns.

Currently, the country has about 1.1 million accounts at the CDSC, meaning that they will collect Sh110 million a month and Sh1.2 billion a year.

Investors are, however, furious, saying this change could reduce activities at the bourse as it will be expensive to maintain CDSC accounts, especially for small investors.

This means that CDSC will then collect nearly three times the revenue it collects every year. The corporation realised Sh335 million in revenues in 2019 from the trades it processed.

Some investors faulted the corporation for failing to make a more consultative decision and instead of increasing fees at the bourse arbitrarily.

“I think decision making shouldn’t be arbitrary, this feels like one not to mention insensitive,” said Kevin Karango, NSE investor.