This report provides an overview of M-Shwari and answers three core questions: What is M-Shwari and how does it work? Who are M-Shwari customers and how are they using the product? Why are customers using (or not using) M-Shwari? The report concludes with an exploration of the broader implications of products like M-Shwari, including: How will “big […]
A brief overview of the use of savings groups in Kenya and the apps FSD Kenya developed to support them. What are savings groups? The savings group is a simple financial intermediation model where members of a group contribute an agreed minimum amount of savings during regular meetings. Locally, savings or investment groups are known […]
M-BIMA is Kenya insurance firm CIC’s 12 year endowment product that combines savings with a life and disability cover. Payments and claims are settled through M-PESA. Subscribers send contributions from as low as ksh.20/- per day through their mobile phones at no transaction costs.
A fixed deposit feature on M-Shwari platform. The service allows customers to save a minimum of Sh500 for six months at interest rates of up to six per cent per annum. The new feature banks on the strength of recurrent customer feedback which suggested the need for a facility to instill discipline in medium term […]
M-Shwari is a dual-credit/savings product for M-PESA customers that is distinctly savings-led. It allows you to save as little as Ksh.1 and access micro credit product (loan) of a minimum of Ksh.100 any time and receive your loan instantly on your M-PESA account; while earning you interest on money saved. Customers are able to sign […]
M-KESHO is a Bank Account enabling send money/funds transfer between the bank account (M-KESHO) & the M-PESA system (Deposit & Withdrawal). Features:Accessibility of the service is through M-PESA Menu service. M-KESHO Account is affordable with no Charges, no ledger fees and no minimum balance. M-KESHO Account holders’ registration is free of charge at any Equity […]
MamaKiba (meaning “MotherSavings”) is a mobile pre-payment service that allows Jacaranda clients to safely prepay towards delivery costs to encourage a culture of saving and reduces the financial burden of delivery. Visiting Jacaranda, a mother will first create an electronic health record which will give her the option to open a Mamakiba account. This installs […]
A lack of a safe, cost-effective way of saving money over time makes it difficult for the poor to earmark funds for health expenses, even for expected medical costs such as maternity and delivery care. Changamka Microhealth Limited offers clients who may not have access to traditional banking platforms, various mobile savings accounts earmarked for […]