Tuesday, April 5, 2011

KCB and Safaricom partners to offer Loans to Mpesa agents

Safaricom and Kenya commercial bank have signed an agreement that will enable Mpesa agents get loans from KCB. Mpesa is a mobile money transfer service owned by Safaricom and operated by Mpesa agents who allow Mpesa account holders to withdraw and deposit money in their accounts. Through the agreement, Mpesa agents will be able to get bank loans from KCB necessary to expand the capacity of their businesses.

 The loan facility will enable Mpesa agents to;

·        Expand their businesses
·        Get loans at affordable rates
·        Manage their Mpesa operating Float
·        Get  a KCB Mpesa account customized to meet the needs of Mpesa agents
The Mpesa agent Mkopo na KCB loan facility is designed to suit the needs and expectations of Mpesa agents.

Mpesa agents will enjoy various benefits from the partnership including;
1.      Overdrafts and loans necessary to expand their business
2.      Access loan facility from numerous KCB branches country wide
3.      Increase their operating capital through overdrafts

Mpesa which has more than 22,000 agents countrywide and more than 13.5 million customers proves to be one of the most thriving businesses in the country considering its potential.

The loan facility will enable Mpesa agents get loans from Kshs.2 million to Kshs5 million and Safaricom will be the collateral. On the other hand, KCB stants to benefit from returns on the facility while Safaricom will see its Mpesa department thrive into higher levels.

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