">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Thursday, January 21, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Safaricom & CBA invest over KSh. 50 million to promote M-Shwari after the fall of Chase Bank

Milcah Lukhanyu by Milcah Lukhanyu
5 years ago
in Business
4 min read
0

Safaricom and CBA have launched a 45-day KSh. 50 million plus consumer promotion running for the next 6 weeks to boost Kenyans savings culture and sign up more customers days after the fall of Chase Bank, a bank mostly known for its SME-centric focus.

The promotion, dubbed Stawisha Na M-Shwari, will boost the savings culture in Kenya which is relatively low and rates at about 12% to 15 % of GDP. The M-Shwari product allows customers to save as little as Kshs 1 and accumulate annual interest at a rate between 2-5 per cent on their savings. In addition, users are able to instantly access their savings.

Sylvia Mulinge, Director – Consumer Business, Safaricom, “The aim of this promotion is to encourage more customers to save on M-Shwari and be rewarded for their financial prudence. The uptake of M-Shwari has so far been amazing but we still see a huge opportunity to bring on board more customers,” she added.

The promotion which kicked off Tuesday will see one winner walk away with a grand prize of Kshs 5Million. There will also be one weekly winner of Kshs 1Million, 50 weekly winners of Kshs 100,000 on M-Shwari deposits of Kshs 50 with no withdrawal during the week and 100 randomly selected customers daily will have their M-Shwari savings doubled during the promotion.

The promotion will reward active customers during the period who have either saved on M-Shwari or Lock Savings account and have fully paid their outstanding loans.

Jeremy Nguze CEO, Commercial Bank of Africa (CBA) said, “The Stawisha Na M-Shwari promotion, aims to increase awareness about the product and encourage all our customers to save on M-Shwari and improve their financial well-being in the long term.”

READ  ELLA MATTHEW GOES DIGITAL FOR AN UPGRADED WOMAN’S SHOPPING.

Launched in 2012, M-Shwari offers flexibility to M-PESA users who have reached the KSh. 300,000 limit of what they can keep in M-PESA. Moving funds to M-Shwari enables such users to earn interest on their savings, while enjoying the flexibility to easily move funds back to M-PESA when needed.

Related posts

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
0

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0

M-Shwari  has disbursed over of Kshs 90 billion at an average of 50,000 loans processed per day.

Readers 1,403

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Business

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
0
Business

Mastercard, Unilever & KCB Bank to pump over $150,000 into SMEs in Kenya via their Jaza Duka program

January 18, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
Business

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0
Business

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0
Business

Equity Group crosses the trillion-shilling balance sheet milestone

December 23, 2020
0
Business

Econet Group’s Strive Masiyiwa Appointed to Netflix Board of Directors

December 17, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

kplc

Kenya Power Rolls Out A Smart Metering Project Across The Country

January 21, 2021

Customer Service Lessons From Leading Brands Including CarGuard’s Trevor Smith

January 21, 2021
123movies

4 Best Free Movie Streaming Sites In Kenya

January 21, 2021

Why Michelle Obama Is Trending On Twitter

January 20, 2021
Cheerful young businessman in round spectacles and formal wear, checks newsfeed on modern smart phone, connected to wireless internet, has happy look as recieves positive news from colleagues

TransUnion partners SA’s financial marketplace, Fincheck, to make the credit application process easier and less frustrating

January 20, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: