Election Results of 2013



Thursday, November 12, 2015


KCB to MPESA is a product of Kenya Commercial Bank in cooperation with Safaricom to enable registered MPESA users access loans from their mobile phones. Prior to this MPESA users were already accessing Micro loans from Safaricom through Safaricom product known as M-SHWARI.

MSHWARI enabled registered MPESA users to access loans payable within 30days with an interest rate of  7.5 percent or 7.5 Shillings for every 100 shillings borrowed meaning if an MPESA user borrowed 1000 Kenya Shillings, he/she would return the 1000 (Principle Amount) with an interest rate of Shs.7.5 per every 100 shilling borrowed. So with KES1000/= borrowed, Safaricom expects their money to grow to 1075 within 30days.

If you add another KES27 charged when you withdraw the money from an MPESA Agent, You end up paying 1102/= Shilling amounting to slightly 10 percent of the principle amount(The 1000/= Bob you borrowed).

Failure to pay the borrowed amount in time together with the imposed interest rate would amount to penalty where as the borrower your MSHWARI loan would accrue a penalty similar to the interest rate imposed per every 30 days of default.

Since the MSHWARI loan is advanced to you without any security, the interest rate is somewhat favourable and within limits of ordinary mwananchi though more needs to be done to enhance the programme to allow for longer payment period and low interest rate.

That said let  me take you back to the main topic - The KCB MPESA programme. The KCB MPESA system allows registered MPESA users to access soft loans from Kenya Commercial Bank. The programme also facilitates SAVINGS account (As a registered MPESA user you can send money from your MPESA account into your KCB account, Withdraw and also get unsecured loan payable within periods of 1, 3 and 6 months respectively.

To access KCB MPESA Loan dial *844# from your Safaricom line and follow prompts. The KCB MPESA will ask you to set your new PIN and once through with setting your PIN, You will receive a message detailing the loan amount you are eligible to get. You can get access to the cash immediately or later. The choice is yours. Once you account is active, you can request loan anytime of the day (24hrs).

NB: Your loan amount is increased every time you successfully completes they LOAN cycle, meaning you pay your loan in time. This is true about MSHWARI and KCB MPESA.

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