This archive report was first published on 4 December 2019.
On December 4, 2019, Safaricom, the region's most profitable company, launched an innovative investment tool called Mali, which enables M-Pesa users to invest in a secure and convenient manner.
The new tool allows users to invest as little as KSh 100 and earn daily interest, with a return of 10% interest annually.
According to Safaricom, users can register for Mali by dialing the USSD code 230# and providing a valid email address and a next of kin contact. The tool will also be available on the My Safaricom App.
Investors on the service can access their investments instantly, with interest subject to withholding taxes. Customers can top up their investment using USSD or via the Paybill on Safaricom Sim Tool Kit. Mali allows customers to top up any amount between KSh 100 and 70,000.
One of the key features of Mali is its instant withdrawal option, which allows customers to withdraw either partial or all funds, credited to the M-Pesa wallet. In case a customer wishes to withdraw beyond MPesa limits, the payment will roll over days until the full investment pays off.
Deposits and withdrawals from the investment tool are free.
Eligibility for the Mali service is open to any user registered for M-Pesa for over 3 months. However, if a user has multiple M-Pesa registered numbers, each line will be treated as a separate account. Customers who replaced their sim cards in the last three days are not eligible.
