Safaricom revamps new products  due to COVID-19 pandemic
Safaricom revamps new products  due to COVID-19 pandemic

Safaricom PLC has agreed to provide communication resources equivalent to 195 terabytes of data, 10 million voice call minutes and 33 million SMSs to critical healthcare workers for the next three months.

The move will help healthcare workers.

Safaricom will give front line health workers a monthly bundle of 12 GB data, 600 voice call minutes and 2,000 SMSs each.


Safaricom is planning to launch an MPESA Debit card after partnering with VISA. With just 8M members, Banks have a giant problem now.

Safaricom plans to introduce a new wealth management service that will allow its subscribers save via M-PESA through small payments to be placed in a collective scheme for investments in assets such as stocks, fixed bank deposit and government securities.

Safaricom is testing a unit trust investment product on its M-Pesa platform and will commercially launch a new mobile savings service as it races for a larger piece of the financial services market.


Under the unit trust product, Safaricom will allow its subscribers to make small payments via M-Pesa that will be placed in a collective scheme for investments in assets like stocks, fixed bank deposit and government securities.


The subscribers will get a return either from dividends or capital growth of their units in the latest plan to grow the mobile money platform beyond sending and receiving cash, tapping loans as well as paying for goods to include insurance and wealth management.


The giant telco also said that it is awaiting regulatory nod to introduce the new savings' product, dubbed Mali (Kiswahili for wealth), which will offer interest rates of 10 per cent on deposits capped at Sh70,000 per saver based on a pilot test.


Safaricom revamps new products  due to COVID-19 pandemic


 It started testing the savings' product in December.




“We are in the final stages of piloting a unit trust investment product enabling customers to create and retain wealth,” said Michael Joseph, a director at Safaricom who served as acting CEO till April, in an online investor briefing last week.

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