Safaricom and Nairobi Securities Exchange recently announced a partnership to enable Kenyans to invest in stocks using their Bonga points. The service is available to all Safaricom customers, who can redeem their points through licensed Trading Participants, with ten already activated.
These include 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. More Trading Participants will join in due course.
How to invest in NSE using your Bonga points
To invest, customers will redeem their points at a rate of KES 1 for every 5 points via the ‘Lipa Na Bonga’ menu on USSD *126# or MySafaricom App. Customers will then key in the Trading Participant’s Paybill number followed by their CDSC (Central Depository and Settlement Corporation) account number.
How do you earn Bonga points?
Once you enroll via *126#, you start earning points immediately. You earn one Bonga Point for every 10 Kenyan shillings spent on the Safaricom network on voice, data, SMS, and M-PESA charges.
The Bonga loyalty scheme, which was introduced in 2007 to reward customers for using Safaricom’s products and services, has seen both retail and corporate customers accumulate 16 billion points.
Over the years, Safaricom has enhanced the Bonga scheme through ‘Jisort na Bonga,’ which empowers customers to redeem their points for phones and accessories at any Safaricom shop or dealer outlet, and the introduction of ‘Lipa Na Bonga’ in 2016 to enable customers to redeem and pay for goods and services at Lipa Na M-PESA merchants countrywide.
Customers can also use their points to settle utility bills such as Home Fibre, PostPay, KPLC, GOTV, and DSTV as well as NHIF and NSSF dues.
