Safaricom Mali Investment: How To Register, Make Payments, And Charges

Grow Your Wealth with Safaricom Mali - Invest as Low as KSh 100!

Jun 5, 2023 - 07:45
Jun 5, 2023 - 11:20
Safaricom Mali Investment: How To Register, Make Payments, And Charges
Safaricom Mali Investment: How To Register, Make Payments, And Charges

In an era where financial growth is becoming essential to personal growth, Safaricom, the leading telecommunications company in East Africa, has introduced an innovative investment tool known as Safaricom Mali. This digital wealth management tool aims to cater to Mpesa users in Kenya, enabling them to invest as Small as KSh 100 (around $0.91) and enjoy an annual return interest rate of 10%. Now, let's explore how this revolutionary tool works, its benefits, and the associated costs.

How to Register For Safaricom Mali

Registering for Safaricom Mali is a piece of cake! Dial your device's USSD code *230#, provide a valid email address, and share your next of kin's contact information. You can also access the service via the My Safaricom App, providing additional convenience for smartphone users.

Remember that eligibility requires you to have been registered as a Mpesa user for at least three months. Each Mpesa line operates as an independent account. If you've replaced your SIM card within three days, you'll need to wait longer to register.

Investing with Safaricom Mali

So, how do you make your money work for you with Safaricom Mali? Dial *230# or go to the services tab in the Mpesa App to start. You're good to go if you're at least 18 years old and have been an active Mpesa subscriber for over three months!

Your investments are converted into units traded at the daily ruling price. Safaricom's fund administrator, Genghis Capital Limited, handles the repurchase of these units. After account opening, an investment statement is sent to your email and, subsequently, every month. You can also request these statements through the Mali Mpesa menu or the Safaricom App.

Benefits of Safaricom Mali

The natural charm of Safaricom Mali lies in its simplicity and ease of access. As an investor, you can top up any amount between KSh 100 and KSh 70,000 using USSD or the Paybill on the Safaricom Sim Tool Kit. The instant withdrawal feature, partial or complete, that credits directly to your Mpesa wallet is a significant plus. And guess what? There are no transaction fees for deposits or withdrawals!

Costs Associated with Safaricom Mali

No investment comes without costs, and Safaricom Mali is no exception. The administration of the Mali fund incurs several third-party costs. This includes a fund management fee of 2.0% per annum, a 15% withholding tax on the investment fund, trustee fees of 0.20% per annum, and custodial fees of 0.15% per annum (subject to a minimum fee of KSh 10,000 per month).

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Safaricom Mali is an attractive investment tool promoting financial inclusion by catering to small investors. The flexibility it offers and the potential returns make it a worthwhile venture for the average Kenyan. Take the plunge, and start growing your wealth with Safaricom Mali today!

Frequently Asked Questions (FAQs)

What is Safaricom Mali?

Safaricom Mali is a digital wealth management tool introduced by Safaricom for Mpesa users in Kenya.

How can I register for Safaricom Mali?

Register for Safaricom Mali by dialing the USSD code *230# or via the My Safaricom App.

What is the minimum amount I can invest in Safaricom Mali?

The minimum investment amount in Safaricom Mali is KSh 100.

What are the costs associated with Safaricom Mali?

Fund management fees, withholding fees, trustee fees, and custodial fees are associated with the Safaricom Mali fund administration.

Can I withdraw my investment from Safaricom Mali?

Yes, Safaricom Mali allows for instant withdrawals, either partial or in full, directly to your Mpesa wallet. If a customer wishes to withdraw beyond Mpesa limits, the payment will be rolled over until the total investment is paid off.

The investment world is complex, but with tools like Safaricom Mali, the journey becomes simplified and accessible. It's time to step into the future of investments and make your money work for you!

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Joseph Richard Joseph is a graduate of Mathematics and Computer Science (Applied Option). With expertise in Technology and Finance, he brings his knowledge to the field, demonstrating an authoritative understanding of these interrelated areas. Joseph is pursuing a Master's in Software Engineering, further expanding his skill set.