This archive report was first published on 6 July 2020.
As the COVID-19 pandemic took hold in Kenya, KCB Bank customers made a collective plea to redeem their Simba Points for cash. The bank has since obliged, allowing customers to exchange their points for real money.
Between March and May, the number of cash redemptions skyrocketed, with the period seeing seven times more redemptions than January and February. This surge in demand reflects the desperate measures Kenyans took to cope with the economic impact of the pandemic.
According to KCB Group Marketing and Communications Director Angela Mwirigi, the bank's decision to allow cash redemptions was motivated by a desire to provide support to its customers during a difficult time. 'In the face of certain challenges and a still-uncertain set of risks, we are providing support, as attractively as we can, so that every household can access financing through our Simba Points offering,' she said.
Ms. Mwirigi also encouraged customers to use the bank's digital channels as a safety measure, while continuing to earn Simba points that can be redeemed for cash.
Since the introduction of cash redemptions, over 8.1 million Simba Points have been redeemed, with customers using the money to purchase essential items such as food and household goods.
To register for the KCB Simba Points Loyalty program, customers can dial 522#, download the KCB App, or visit a KCB branch to fill in an amendment form.
Customers can increase their Simba points by transacting with a credit, debit, or pre-paid card, using KCB mobi, banking online, or depositing money at a KCB Mtaani agent.
