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Safaricom MALI.
winmak
#21 Posted : Thursday, December 05, 2019 11:36:43 AM
Rank: Member


Joined: 12/1/2007
Posts: 435
Location: Nakuru
the deal wrote:
NewMoney wrote:
the deal wrote:
Looks good on paper but in reality it's not...like someone said...in which high liquid asset will Safcom invest to achieve the 10% p.a?



If they partner with a firm like CIC they can definitely do it. CIC has been offering over 9% consistently on the money market fund so 10% is definitely doable with a few extra T&C.

Or safcom can setup a similar organization to whatever CIC uses in the back office and save some costs


How is CIC doing? The 10% p.a is just a bait...


Bait?

They've been consistent over many years... Clarify 'bait'.. Link perhaps?
For investors as a whole, returns decrease as motion increases ~ WB
VituVingiSana
#22 Posted : Thursday, December 05, 2019 1:18:54 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,637
Location: Nairobi
the deal wrote:
VituVingiSana wrote:
@thedeal Why is Namibia becoming like other African countries? https://www.aljazeera.co...ed-191201073838635.html Shame on you Sad

It's a tragedy...good thing we have jailed the culprits...assets and bank accounts frozen...too bad we dont have the death penalty...small countries like Namibia are vulnerable to state capture...
Not necessarily so. Look at small (population) countries like Singapore and Denmark vs Nigeria, RSA and Kenya.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#23 Posted : Thursday, December 05, 2019 3:23:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,857
Location: NAIROBI
peep
#24 Posted : Thursday, December 05, 2019 5:48:13 PM
Rank: Member


Joined: 3/30/2009
Posts: 52
Angelica _ann wrote:
So where will they invest the money. Asking for a friend. smile

Is it true that the 'bank' behind it is Safaricom SACCO?
babashuge
#25 Posted : Friday, December 06, 2019 6:47:50 AM
Rank: New-farer


Joined: 1/4/2019
Posts: 22
Location: Nairobi
10% is quite a big promise... They should probably wait for businesses to finish responding to the interest cap changes before committing
Ebenyo
#26 Posted : Friday, December 06, 2019 7:30:39 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,775
Location: Kitale
Njunge wrote:
If it's what I am thinking, it will be a game changer with huge potential of driving banks and saccos under.......before then, anyone with details and launching date?





ussd *230# from your phone and follow details.
Towards the goal of financial freedom
passiveinvestor
#27 Posted : Friday, December 06, 2019 10:56:23 AM
Rank: Member


Joined: 12/8/2006
Posts: 92
Ebenyo wrote:
Njunge wrote:
If it's what I am thinking, it will be a game changer with huge potential of driving banks and saccos under.......before then, anyone with details and launching date?





ussd *230# from your phone and follow details.

It's a good tech initiative, but will probably exacerbate the money markets. Mid and lower tier banks and microfinances will find it harder to attract deposits, leading to a rise in lending rates. Not sure what the contracts behind the product is in order to better anticipate market responses.
tom_boy
#28 Posted : Saturday, December 07, 2019 8:24:36 AM
Rank: Member


Joined: 2/20/2007
Posts: 737
winmak wrote:
the deal wrote:
NewMoney wrote:
the deal wrote:
Looks good on paper but in reality it's not...like someone said...in which high liquid asset will Safcom invest to achieve the 10% p.a?



If they partner with a firm like CIC they can definitely do it. CIC has been offering over 9% consistently on the money market fund so 10% is definitely doable with a few extra T&C.

Or safcom can setup a similar organization to whatever CIC uses in the back office and save some costs


How is CIC doing? The 10% p.a is just a bait...


Bait?

They've been consistent over many years... Clarify 'bait'.. Link perhaps?



Its bait for sure. You need to be an investor to know.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
sparkly
#29 Posted : Saturday, December 07, 2019 8:02:15 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,487
Location: Enk are Nyirobi
peep wrote:
Angelica _ann wrote:
So where will they invest the money. Asking for a friend. smile

Is it true that the 'bank' behind it is Safaricom SACCO?


Bank at the back-end likely to be NCBA and/or KCB.
Life is short. Live passionately.
NewMoney
#30 Posted : Sunday, December 08, 2019 2:37:19 AM
Rank: Member


Joined: 3/1/2019
Posts: 114
Location: Nairobi
sparkly wrote:
peep wrote:
Angelica _ann wrote:
So where will they invest the money. Asking for a friend. smile

Is it true that the 'bank' behind it is Safaricom SACCO?


Bank at the back-end likely to be NCBA and/or KCB.



Agree... Safaricom sacco does not have any products that can offer such returns at the scale that this would need. Just because Safaricom sacco has that brand name on it does not mean they are related at all, I understand it's a very small (relatively) independent operation with little to no ties with safcom company itself
xtina
#31 Posted : Tuesday, December 24, 2019 8:51:10 AM
Rank: Member


Joined: 6/26/2008
Posts: 282
What does this mean? Did they preempt and overshoot their expectations? Did their market research reveal something about Kenyans' saving habits (or lack of) or this innovative product just needs more time and further research/tweaking?





Safaricom undecided on new savings product after testing

Safaricom is undecided on when to commercially roll out a new savings service on its M-Pesa platform that the telecoms operator has been testing for weeks.

Acting CEO Michael Joseph said the firm had completed testing the new product, dubbed “Mali” (Kiswahili for wealth), but its fate remains unknown.

Mali, which has capped savings at Sh70, 000 per saver, will offer an annual interest rate of 10 percent, higher than what is offered by commercial banks.

Policymakers say Kenya suffers from a low national savings rate and analysts said that Safaricom could be looking to target the untapped market with the new savings product.

“Mali was and is a trial with only Safaricom staff and a few customers. It has now been completed and we have yet to decide to launch it or not with the requisite approvals,” said Mr Joseph in an interview with the Business Daily without giving more details. At 10 percent, the return from Mali is nearly double the current interest rate that banks are paying on savings. Official data shows that average savings interest fell to 4.58 percent in September compared to 6.33 percent in the same month last year when Parliament made changes to the banking law and removed a clause that compelled banks to pay depositors at least 70 percent of the base lending rate.


“We view the combination of lending and wealth management services as a further boost to earnings from financial services,” Standard Investment Bank said in reference to the Mali product.

“The product possibly includes a partner bank and a fund manager.”

Started 11 years ago as a service to allow Kenyans without access to the banking network to transfer money via mobile phones, M-Pesa now offers loans and savings in conjunction with local banks as well as merchant payment services.

Safaricom launched the overdraft feature called Fuliza on January 7 this year.

Fuliza is underwritten by Kenyan lenders KCB Group and NCBA Group, which already had partnerships with Safaricom to offer short-term loans on the M-Pesa platform.

Fuliza lent out Sh140 billion in the first nine months, but part of the earnings from the service are shared with its partners.

It is not clear if the deposits in the new savings product will be used to back loans, akin to the mode of operations in banks.

Mr Joseph said Safaricom is keen to attach more products to M-Pesa beyond loans, including insurance and wealth management products.

M-Pesa has around 20 million active users in Kenya and it has become the principal driver of Safaricom’s profit growth, as revenue from the traditional voice and text services has flattened off.

Safaricom currently offers a savings product in partnership with NCBA through M-Shwari with those saving up to Sh20, 000 earning an annual interest of three percent, four percent for Sh50, 000 and five percent above Sh50, 000.

But the funds must be locked in for between one and 12 months and accessed after maturity. Mali does not have lock-in restrictions.
MatataMingi
#32 Posted : Tuesday, December 24, 2019 4:36:50 PM
Rank: Member


Joined: 11/17/2009
Posts: 349
Location: Where everyone knows you
With a limit of 70K per person, this is not something real investors will consider.
Maybe it will attract small scale savers.
Ericsson
#33 Posted : Thursday, December 26, 2019 9:25:11 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,857
Location: NAIROBI
MatataMingi wrote:
With a limit of 70K per person, this is not something real investors will consider.
Maybe it will attract small scale savers.

Large scale will buy safaricom shares
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