Safaricom in partnership with NSE ( Nairobi Securities Exchange) have made a huge announcement on how to improve Kenyan economy by enabling the safaricom users to invest their accrued bonga points in shares.
This announcement will benefit all individuals using safaricom lines. The customers shall benefit by redeeming their accrued bonga points through Trading participants who are licensed.
The licensed trading participants include; NCBA Capital, Faida Investment Bank, ABC Capital, Old Mutual Securities, Suntra Investments, Kingdom Securities, Dyer and Blair Investments, Francis Drummond & Company and Sterling Capital Limited with many more other trading participants to join.
The customers shall be required to invest by redeeming their bonga points at a rate of five points for one shilling via safaricom services ‘lipa na bonga’ menu on USSD *126#.
On pressing dial button, you will be prompted to key in paybill number followed by account number. At this point the customer will be required to key in the paybill number of the licensed trading participant and their central depository cooperation account number.
Safaricom CEO Peter Ndegwa said explained that this partnership will add more value and utility to the customer’s Bonga Points and shall create more opportunities for economic empowerment.
The Chief Executive Officer for Nairobi Securities Exchange Geoffrey Odundo said that this partnership will help in unlocking more opportunities for investment through innovative and convinient ways or means.
He further said that this will provide an avenue for more investors to take part in the NSE which will later on improve the stock market. This will aid the economical recovery following the Corona pandemic.
The idea of bonga points loyalty scheme was established in the year 2007 by then safaricom CEO and his team as away of rewarding the loyal customers who are using safaricom services. Since then many cooperate and retail customers have accrued billions of bonga points.