Kenyans will soon buy stocks at the Nairobi Securities Exchange (NSE) using their accrued Bonga Points following a partnership between Safaricom and NSE.
10 trading participants have already been activated to start receiving Bonga Points from Kenyans who want to buy stocks. They include:
- NCBA Capital
- Faida Investments Bank
- AIB-AXYS
- ABC Capital
- Old Mutual Securities
- Kingdom Securities
- Suntra Investments
- Francis Drummond
- Dyer & Blair Investments
- Sterling Capital Limited
“As we focus on the next 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 their needs,” said Peter Ndegwa, Safaricom CEO.
To buy a stock, 5 Bonga Points will be converted into one shilling. The customer will buy through Lipa Na M-Pesa, mySafaricom App or USSD and will key in the participant’s Paybill to complete the transaction.
Since its launch in 2007, Safaricom’s Bonga Point program has seen customers accumulate over 16 billion points worth 4 billion shillings.