Individuals account for 51,4% unclaimed shares on CSD

By Melody Chikono | Jul. 24, 2023

CDC said the cumulative number of deposits since going live is now 103 970 with the average dematerialisation penetration ratio (Demat Ratio) across all counters sitting at 58,14% as at June 30, 2023.

CHENGETEDZAI Securities Company has embarked on a market drive to identify individuals making up unclaimed shares on its trading platform, Chengetedzai Securities Depository (CSD).

This comes as individuals now hold the largest number and proportion of accounts on the CSD.

Statistics available in a trading update for the month ended June 20, 2023, show that individuals accounts jumped 51,4% from 23 210 in to close the month at 23 838.

"Individuals hold the largest number and proportion of accounts on the CSD. This has prompted the CSD to go on a market drive where efforts have been increased to identify those making up the unclaimed shares category so that they claim their share," CDC said.

Unclaimed shares on the platform made the second largest group closing the month sitting at 16 306. However, in terms of value, the investor type that holds corporate and pension funds held the most significant value on CDC CSD accounting for 34,82% and 24,42% respectively.

During the month, CDC CSD opened 249 new accounts in June 2023, resulting in 1 534 accounts being opened this year to date.

"As a result, the cumulative number of accounts opened on the CDC CSD as of 30 June 2023 was 45 519. Local investors accounted for 95,10%, and foreign investors accounted for 4,90% of all accounts opened on the CDC CSD as of 30 June 2023," the company said.