SAFARICOM PLC customers can now invest in the NAIROBI SECURITIES EXCHANGE using their accrued bonga points. The Telco announced on Monday 9th August, 2021 their partnership with the NSE that will see investors get 1KES for 5 loyalty points.
This move is an addition to the other uses of the loyalty points such as consumption of needs, paying loans, purchase of phones and accessories, settling utility bills etc.
The option comes on the back of the accumulation of unclaimed Safaricom loyalty points hitting 4.2billion, an all time high recently. Customers can redeem the bonga points through licensed trading participants. Some of the trading participants in the partnerships are AIB-AXYS, ABC CAPITAL, OLD MUTUAL SECURITIES, NCBA CAPITAL, Faida Investment Bank, Kingdom securities, Sterling capital, Suntra Investment Bank, Dyer & Blair Investment Bank and Francis Drummond & Company. According to Safaricom, more participants will be joining the partnerships over time.
How to invest with Bonga points
- Dial *126# / My Safaricom app, under balances, Lipa na Bonga.
- Go to Lipa na Bonga Sub-menu
- Select Paybill option
- Key in the trading Participant’s Paybill Number
- Enter their CDSC(CENTRAL DEPOSITORY AND SETTLEMENT CORPORATION) account number
- Then enter the amount in KES you want to deposit.
Geoffrey Odundo, Chief Executive NSE, says “The launch of the Lipa Shares na Bonga points initiative resonates with our resolve to connect capital with opportunities and further provides an avenue for retail investors to participate on the NSE.
On his side, Safaricom PLC CEO, Peter Ndegwa says this moves seeks to give their customers more value and utility of the bonga points while creating more avenues for driving economic empowerment.