M-PESA goes to the investment business

Safaricom and Old Mutual Kenys announced their partnership owing to which the investors will be enabled to pay their premiums on unit trusts investment using M-Pesa money transfer, a service of Safacirom launched in 2007 in cooperation with Vodafone.  

This partnership opens the new opportunities for the customers and launches the C2B functionality on the M-PESA platform which allows the customers to settle their utility bills, loan repayments, insurance premiums and investment contributions safely and conveniently. 

"As a revolutionary service that has changed the lives of millions of Kenyans, we expect M-PESA to help us penetrate the mass market in our bid to offer Kenyans reliable investment products. This partnership with Safaricom is therefore a veritable turning point that we are offering in this market. It is a demonstration of our commitment to boost investment levels in Kenya," said Bertie van der Walt, Chief Executive of Old Mutual Kenya Group.

"This partnership will enable Kenyans to enjoy a fast, safe, affordable and convenient way to invest in this investment plan throughout the country using their mobile phones," said Michael Joseph, CEO of Safaricom.