What is a CSDP account and do I need to open one?
A CSDP (Central Securities Depository Participant) account is an account held with a licensed South African broker, bank or custodian that enables an investor to hold, receive, trade and receive dividends on JSE‑listed shares in electronic form.
- However: If you already have a CSDP account, the Nedbank shares you receive will be credited to that account as long as you have submitted a FOI with the supporting documents.
- If you do not have a CSDP account, your Nedbank shares will be held on your behalf in a Nominee Account that has been established for participating NCBA shareholders.
- You may transfer your Nedbank shares from the Nominee Account to your own CSDP account at a later stage should you choose to open one.
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How can I open a CSDP account? What are the requirements?
You can open a Central Securities Depository System account through a licensed Central Depository Agent such as a South African stockbroker, an Investment Bank or a commercial bank acting as a custodian, which performs a role equivalent to that of a Central Depository System (CDS) in Kenya.
Authorised CSDPs and their contact details are contained in annexure G of the Offer Documents.
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Does Nedbank have a brokerage firm that can assist me?
Yes. Nedgroup Private Wealth Stockbrokers (Pty) Ltd (NPWS) is a licensed Financial Services Provider that can assist with JSE trading, custody and investment services.
https://onlinesharetrading.nedbank.co.za/#/overview
Email:
stockbrokersMS@nedbankprivatewealth.co.za
Contact number:
+27 10 217 4034
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What are the trading costs for NPWS account holders?
R70 minimum or 0.5% on the trade value.
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What documents are required to open an account with NPWS?
For Individuals:
- Signed NPWS mandate;
- Copy of Passport;
- Dividend withholding tax declaration; and
- Proof of non-resident SA bank account.
For Corporates/LLPs:
- Signed NPWS mandate;
- Dividend withholding tax declaration; and
- Proof of non-resident SA bank account.
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Is online trading available?
Yes, online trading is available through our NPWS online share trading platform.
https://onlinesharetrading.nedbank.co.za/#/overview.
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Is my NPWS online trading account limited to holding of Nedbank shares?
No, account holders can invest in all listed shares and ETF’s listed on the JSE. Account holders can also open an Offshore trading account and get access to 30 international exchanges with NPWS.
Trading charges applicable to NPWS clients
Minimum: R70 or 0.50% of the trade value.
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Can my Kenyan stockbroker issue sale instructions to the SA stockbroker?
Yes, you can instruct your Kenyan broker, who will relay instructions through the appointed South African executing broker/custodian, provided that either a formal arrangement is in place between the Kenyan broker and the South African executing broker/custodian, or the investor has confirmed to the South African executing broker/custodian that it is authorised to receive and act on instructions from the Kenyan broker. The appointed South African executing broker/custodian then performs the trade on the JSE in accordance with those instructions.
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Are there any capital controls in SA? Is it easy to send and receive money?
Yes, there are capital controls administered by the SARB. Transfers of money out of South Africa are allowed but must follow SARB rules. Certain outward transfers require SARS tax compliance status (TCS PIN) or a Manual Letter of Compliance (MLC), especially for non‑residents receiving South African‑source income such as dividends.
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Are dividends subject to withholding tax?
Yes. Please see JSE tax framework above.
