Kenya’s largest telco has announced a partnership with the Nairobi Securities Exchange (NSE) that will enable Kenyans to invest in stocks using accrued Bonga points.
All Safaricom customers will now be able to redeem their points through licensed Trading Participants. At the moment, ten of these, NCBA Capital, Faida Investment Bank, AIB-AXYS, ABC Capital, Old Mutual Securities, Kingdom Securities, Suntra Investments, Francis Drummond & Company, Dyer & Blair Investments, and Sterling Capital LTD have been activated with the telco promising to add more firms over time.
“As we focus on the next phase of our journey to go beyond, our aim is to continue transforming the lives of our customers by delivering a wide range of products and services that align with their needs. Through this partnership with NSE, we seek to give our customers more value and utility for their Bonga Points while creating more avenues for driving economic empowerment,” said Peter Ndegwa Chief Executive Officer, Safaricom.
How To Buy NSE Stocks With Safaricom Bonga Points
For a rate of Sh1 for every 5 points, you can buy stocks in these simple steps;
- Dial *126#.
- enter 1: Lipa Na Bonga.
- enter 2: Pay Bill
- Key in the Trading Participant’s Paybill number.
- Enter their CDSC (Central Depository and Settlement Corporation) account number
- Enter the amount and confirm.
According to Gadgets Africa, you can also use the MySafaricom app.
“Through this initiative, we intend to unlock more investment opportunities to investors using convenient and innovative solutions. The partnership resonates with our resolve to connect capital with opportunities as anchored in the NSE 2020-2024 strategic plan. It further provides an avenue for retail investors to participate in the NSE and is coming on the backdrop of the stock market’s recovery following the COVID-19 pandemic,” said Geoffrey Odundo, Chief Executive Officer, Nairobi Securities Exchange.