Nairobi Securities Exchange (NSE) has unveiled a partnership with listed telecommunications company Safaricom Plc to enable Kenyans invest in listed stocks using bonga points.
In a statement, Safaricom said the service will be available to all Safaricom customers, who can redeem their points through ten licensed Trading Participants who 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.
“Through this initiative, we intend to unlock more investment opportunities to investors using convenient and innovative solutions. The partnership provides an avenue for retail investors to participate in the NSE and is coming on the backdrop of the stock market’s recovery following the COVID-19 pandemic,” said Geoffrey Odundo, Chief Executive Officer, Nairobi Securities Exchange.
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 account number.
