How Kenyans Can Tap Into Timiza To Boost Their hustles

Let us face it. Things are not right economically.

The post-pandemic era has brought about significant shifts in the way businesses operate, and for small and medium-sized enterprises (SMEs), adapting to these changes is crucial for survival and growth.

It is tough for everyone. Businesses are struggling to remain afloat, and many live only today, unsure of what might happen tomorrow. As things stand, running and sustaining a business, more so, a small and medium enterprise is not easy.

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We cannot run away from the great contribution of SMEs and MSMEs to the Kenyan economy. This sector consists of 90 percent of Kenyan businesses, employs 86 percent of the Kenyan population, and contributes about 45 percent to the country’s gross domestic product (GDP).

But what is the solution? What is the way out for the millions of suffering SMEs and MSMEs across the country?

One powerful tool that can empower SMEs in this new landscape is Absa Bank’s Timiza wallet.

Timiza is a digital bank offered as a mobile-only platform (or wallet) by Absa Kenya for both Absa and non-Absa customers that focuses on providing inclusive banking to everyone- accessible via USSD (*848#) and mobile app on Google Play Store &App Store.

The magic behind Timiza is that it can be accessed by anyone including those who are not customers of Absa Bank Kenya.

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What do Kenyans stand to get from Timiza?

1. For an SME, just like me, Timiza has Instant Mobile Loans. It gives you access to instant loans of up to 150,000 shillings repayable in 30 days, 3, 6, and 12 months while a term loan is up to 1 million shillings. The more one transacts the more they grow and improve their Timiza credit limit. In addition, one gets discounts and loan limit growth on early repayment.
2. Goal-Based Savings – separate savings wallet to meet your goals and aspirations with very competitive interest rates of 9% p.a. Which allows you to: save from as little as KSH 100 and still earn interest, save daily, weekly, monthly, or in a lump sum and once your goal is complete the money automatically reflects in your account in 24 hrs
3. Make Payments- via M-Pesa Paybill and Till payments (buy goods)
4. Bill Payments – Pay DStv, KPLC, Zuku, GOtv Bills
5. Insurance – Personal accident and last expense Insurance at only KES 42 per month for a cover of KES 100,000

In a post-pandemic era where adaptability is key, digital banking platforms like Timiza emerge as valuable allies for SMEs. The combination of instant mobile loans, goal-based savings, convenient payment options, and affordable insurance creates a holistic financial ecosystem tailored to the specific needs of small businesses.

By leveraging these features, SMEs can not only weather economic uncertainties but also thrive and grow in the face of new challenges. Embrace the power of digital banking to elevate your hustle and secure a prosperous future for your business.

Download the Timiza App TODAY from PlayStore or App Store or simply dial *848#

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