Loans Kenya Blog

Wednesday, July 08, 2020

Absa Bank To Offer Psychological Support this COVID-19 pandemic

Mwabaya Katana July 08, 2020 No comments

Absa Bank Kenya has announced a partnership with Minet a health insurance company to give psychological support this Coronavirus pandemic.

The bank announced this through a post on social media and shows how individuals can benefit from the initiative.

Kenyans experiencing mental health issues this pandemic can dial *202*04# and a professional counselor will attend to them.

Here is the message;

We have partnered with health insurance provider @Minet to offer psychosocial support to Kenyans experiencing mental health challenges during this period. Dial *202*04# and a professional counselor will call you.

This is a good move especially during this period. Many people feel frustrated after loosing jobs and others after their businesses collapsed.

These African Citizens can own an M-Pesa Wallet

Mwabaya Katana July 08, 2020 No comments

M-Pesa is the biggest mobile money wallet in Africa with over 40 million African people using the service.

The mobile money service was previously owned by UK's Vodafone Group PLC till recently when Safaricom and Vodacom jointly bought Mpesa.

Today, M-Pesa is an African owned mobile money platform with Safaricom owning 50 percent shares and Vodacom owning the remaining 50,percent shares.

M-Pesa is now registered in Kenya as M-Pesa Africa Limited, ready to serve Africans the african way.

But do you know which African Country Citizens can own an active M-Pesa wallet? To have an Mpesa wallet, one must either be a Safaricom subscriber or a Vodacom subscriber.

Here are the countries in Africa whose residents can easily own and benefit from an M-Pesa wallet account;

Kenya
Lesotho
Tanzania
Ghana
Mozambique
Egypt
Democratic Republic of Congo (DRC)

Citizens of African countries apart form the ones listed above can still receive cash sent from an M-Pesa wallet to their mobile wallets run by other telcos in those countries.

Tuesday, July 07, 2020

How Smart Kenyans Want To Kill M-Pesa

Mwabaya Katana July 07, 2020 No comments

Safaricom which owns Mpesa have already reported a decline in the amount of profits the company made as a result of Mpesa profits falling.

Within the last three months Safaricom lost more than ksh 5 billion after the Central Bank of Kenya (CBK) announced a few measures to cushion Kenyans from the COVID-19 negative economic impact.

CBK announced the removal of any transaction charges involved when a customer transfers cash from Mpesa to bank or from bank to Mpesa. In addition the bank regulator directed that Mpesa and other mobile money wallets never to charge fees for transfer of any amount below ksh 1000 and this is where the smart Kenyans came in to take advantage of this.

Smart Kenyans knowing that it is free sending sh 1000 ,the guys started splitting any money above one thousand into deals below ksh 1000 ,then sending in bits to avoid charges. For example someone who wanted to send ksh 5000 to a friend would send ksh 1000 five times.

Safaricom noticed this from data collected within the past three months. It is one of reasons why the company profits fell. Smart Kenyans sent up to ksh 60,000 free of charge by splitting the amount into bits of ksh 1000 before sending. This is how these Smart people want to kill M-Pesa.

In this regard, Safaricom approached CBK to check into this where the telecommunications company was suggesting capping the times one can send money to the same recipient to 5 but CBK declined.

Safaricom however believes CBK will re-evaluate this move and come up with the right one to keep Mpesa back in bus5as usual.

The smart Kenyans splitting cash before sending to friends and family are projected to cost Mpesa a total of around ksh 15.3 billion.

This is why Safaricom closed Moi Avenue Shop

Mwabaya Katana July 07, 2020 No comments

Safaricom has announced closing Moi Avenue shop but this time for a reason not related to COVID-19.

The telecommunications company said the shop is undergoing renovation this the closure.