Since its inception, Safaricom M-Pesa, the company has been on a roller coaster of innovations.
The Safaricom is set to unveil yet another product to its more than 20million M-Pesa users.
The new product aims to encourage Kenyans to save, as at the same time earn interest on their savings capped at Ksh. 70000. The new product known as Mali ( Kiswahili word for wealth) can be accessed via USSD code *230# or via PayBill No.
To qualify for this saving plan, one needs to be a registered M-Pesa user for over 3 months.
The product aims to have a fixed interest rate of 10% P.A, nearly double from current bank interest rates on saving plans.
M-Pesa launched 11 years ago, continue being one of the best-earning product for Safaricom in terms of revenue.
Safaricom users can access loans, from Mshwari and KCB bank. Recently in partnership with NCBA Group, they just launched Fuliza with profit sharing of 40:40:20 for Safaricom, NCBA, and KCB respectively.