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Meet M-Shwari from Safaricom!!!!
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Now that the details are out...Whats the difference between Mshwari and the defunct Mkesho? Customers will not have to go to the bank to check their account balances. They will comfortably do it on phone. The mobile system will allow the customer to check their last 5 transactions on their linked account. With the M-KESHO Account, you will be able to get pre-qualified Personal Accident insurance cover for you and your family affordable, access short-term loan facilities ranging from 100/=, and earn interest on your mobile account from as little as 1/=.
http://www.techmtaa.com/...faricom-and-equity-bank/
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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Refer to an earlier thread on mpesa encouraging fraud and see if the fake chairman who conned me will use one of his lines to con mshwari 100k.
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Rank: Veteran Joined: 11/20/2009 Posts: 1,402
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My understanding
M-PESA is not giving out loans...Nope.. but CBA is...through M-PESA
The central bank has licence the product through CBA, not Safaricom
Safaricom will benefit through normal M-PESA fees
CBA benefits through the massive deposits it will hold, and CBA will give you interest on your deposists
AND again, the Full RISK of DEFAULT is not being shouldered by Safcom, But By CBA... I assme defaulters will be sent to CRB etal?
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Rank: Elder Joined: 11/28/2006 Posts: 1,799
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mawinder wrote:Refer to an earlier thread on mpesa encouraging fraud and see if the fake chairman who conned me will use one of his lines to con mshwari 100k. hahahahaha @mawinder.. Just forget about hiyo kisanga.. move on mzee... 
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Rank: Elder Joined: 6/17/2008 Posts: 23,365 Location: Nairobi
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Muheani wrote:
My understanding
M-PESA is not giving out loans...Nope.. but CBA is...through M-PESA
The central bank has licence the product through CBA, not Safaricom
Safaricom will benefit through normal M-PESA feesCBA benefits through the massive deposits it will hold, and CBA will give you interest on your deposists
Not only that my friend, this is a partnership and there are no charges from MPesa to MShwari transfers and vice versa!!!...that 7.5% interest is shared!!! ..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rank: Veteran Joined: 11/20/2009 Posts: 1,402
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McReggae wrote:Muheani wrote:
My understanding
M-PESA is not giving out loans...Nope.. but CBA is...through M-PESA
The central bank has licence the product through CBA, not Safaricom
Safaricom will benefit through normal M-PESA feesCBA benefits through the massive deposits it will hold, and CBA will give you interest on your deposists
Not only that my friend, this is a partnership and there are no charges from MPesa to MShwari transfers and vice versa!!!...that 7.5% interest is shared!!! True @Mc AND again, the Full RISK of DEFAULT is not being shouldered by Safcom, But By CBA... I assume defaulters will be sent to CRB etal?
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Rank: Elder Joined: 1/27/2011 Posts: 1,777
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McReggae wrote:Muheani wrote:
My understanding
M-PESA is not giving out loans...Nope.. but CBA is...through M-PESA
The central bank has licence the product through CBA, not Safaricom
Safaricom will benefit through normal M-PESA feesCBA benefits through the massive deposits it will hold, and CBA will give you interest on your deposists
Not only that my friend, this is a partnership and there are no charges from MPesa to MShwari transfers and vice versa!!!...that 7.5% interest is shared!!! And are they sharing the burden of paying 5% interest on deposits too?
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Rank: Elder Joined: 7/20/2007 Posts: 4,432
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Now goal posts are shifting. So is Mshylock a CBA product or a Safaricom product? If mama mboga decided that she is ok with the inconvenience of going to the bank, will CBA give her an account at ksh.100? What is the nature of this "partnership"? Let's not try to confuse the uneducated like me. Now that it is being run by CBA which of the risks I expressed earlier have been mitigated? Or is the shylocking now more palatable. My foot! Jose: If I make it through this thug life, I'll see you one day. The Lord is the only way to stop the hurt.
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Rank: Veteran Joined: 11/20/2009 Posts: 1,402
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alma wrote: Now goal posts are shifting. So is Mshylock a CBA product or a Safaricom product? If mama mboga decided that she is ok with the inconvenience of going to the bank, will CBA give her an account at ksh.100? What is the nature of this "partnership"? Let's not try to confuse the uneducated like me. Now that it is being run by CBA which of the risks I expressed earlier have been mitigated? Or is the shylocking now more palatable. My foot! @ Alma You are both a Safcom/CBA customer through M-Shwari Am not in the bank...but iam sure wat CBA/Safcom have done is to link the bank platform with M-PESA, so by opting in via M-PESA, you are created for a unique account at the bank platform. SO M-PESA becomes your front. Thats why mama boga doesnt have to go to CBA As I said before, The licencing could not be done unless through a bank...and CBA must have guaranteed all matters to do KYC et al and taken all risks. If you default on your Loan, that i believe will mostlly be a headache for CBA, not safcom. However Safcom might come in when recovery process starts......
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Rank: Member Joined: 2/9/2012 Posts: 576
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Muheani wrote:My understanding
M-PESA is not giving out loans...Nope.. but CBA is...through M-PESA
The central bank has licence the product through CBA, not Safaricom
Safaricom will benefit through normal M-PESA fees
CBA benefits through the massive deposits it will hold, and CBA will give you interest on your deposists
AND again, the Full RISK of DEFAULT is not being shouldered by Safcom, But By CBA... I assme defaulters will be sent to CRB etal?
can't agree more, Safaricom cannot hold deposit,actually even the mpesa value is hosted by a bank which I think is CBA, note even MFI nowadays have to get a license from CBK be DTMFI .What Scom has is electronic value.They cannot offer Mshwari on their own because they will be required to play by the CBK rules(who do you think will have provisions. for bad debts in case of default in their books ?! ),hence CBA, definitely if you were the CBA C.e.o you will negotiate good returns but remember Scom has the advantage of negotiating with forty something banks!. Now picture this Scom cannot lend huge amounts unlike member who will start, you with 10,000 and graduate you, as your business grows because they can even come to the ground and take more risks with you,Scom will never do that after 10,000 you are left on your own, as an individual you don't benefit much I.e. growth wise. the economy neither benefits much because there is no credit creation you only lend to people to sort out their immediate problems and not start business.Let Safaricom take the plunge and apply for a Banking license or a deposit taking license if it really wants to empower Kenyans! Africa belongs to Africans.
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Rank: Member Joined: 9/12/2008 Posts: 436 Location: illobi
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How do banks track down defaulters? They use the little information they have to try and track you down. On the other hand Safaricom has a huge database of numbers you have called (frequently) for the longest period. You default, your relatives, friends, employers are accosted and believe you me, THEY WILL FIND YOU!! This is a great product - in my own view. Most banks are currently offering Deposit & withdrawals services using/via MPesa and these transactions are charged (between 20/- to 100/-). If i receive a ka loose 10K, it makes more sense to deposit to my Mshwari Ac until a time when I need it with NO Charges and I get to earn a little interest while building my credit worthiness for a rainy day when i may need to "Okoa Jahazi" Off to read the T&Cs
A successful man is one who makes more money than his wife can spend. A successful woman is one who can find such a man
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Rank: Member Joined: 8/4/2012 Posts: 155 Location: Kenya
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alma wrote: Now goal posts are shifting. So is Mshylock a CBA product or a Safaricom product? If mama mboga decided that she is ok with the inconvenience of going to the bank, will CBA give her an account at ksh.100? What is the nature of this "partnership"? Let's not try to confuse the uneducated like me. Now that it is being run by CBA which of the risks I expressed earlier have been mitigated? Or is the shylocking now more palatable. My foot! http://www.safaricom.co....ERMS_AND_CONDITIONS.pdf
I think it's a CBA product with Safaricom providing the link between the bank and the customer and a lot of infor to the bank. CBK is definately happy because it will not only bring money into the mainstream financial institution (read CBA) but also loan cash to the "unloaned" albeit expensively If you don't want to go to plan B have a good plan A.
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Rank: Elder Joined: 7/11/2012 Posts: 5,222
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K22 wrote:How do banks track down defaulters? They use the little information they have to try and track you down.
On the other hand Safaricom has a huge database of numbers you have called (frequently) for the longest period. You default, your relatives, friends, employers are accosted and believe you me, THEY WILL FIND YOU!!
This is a great product - in my own view. Most banks are currently offering Deposit & withdrawals services using/via MPesa and these transactions are charged (between 20/- to 100/-).
If i receive a ka loose 10K, it makes more sense to deposit to my Mshwari Ac until a time when I need it with NO Charges and I get to earn a little interest while building my credit worthiness for a rainy day when i may need to "Okoa Jahazi"
Off to read the T&Cs Ati your mathe gets to learn you are taking loans and not paying up?  Why are you scaring people?
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Rank: Elder Joined: 11/15/2011 Posts: 4,518
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mhhhh not bad.This will really sort me out fast. "The true measure of a man is how he treats someone who can do him absolutely no good.
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Rank: Elder Joined: 2/23/2009 Posts: 1,626
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Mukiri how you put it sounds funny!!! I guess K22 is still right on that. Uncertainty is certain.Let go
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Lets just wait and see if this thing adds some revenue to scoms bottom line thats the only way we will know if it works...up to now i knw a couple of people who have already joined...next up insurance...bulge bracket firm all the way. possunt quia posse videntur
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Its amazing how some wazuans show up here to critize thinking that others/planners have not asked themselves the same questions they are asking. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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dunkang wrote:some change this thread to ' meet safaricom's Shylock business'
But seriously, who will borrow 100,000/- at 7p.c per month. Afadhali uchukue salary advance at equity to repay after 3 month at 25p.c p.a. Ditto! Member it is. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Hello Joined: 6/18/2011 Posts: 3
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This to me is the big thing after the mpesa.
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Rank: Veteran Joined: 2/25/2009 Posts: 973
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I have joined esp coz of the quick loan access.I may need emergency first aid one of these days.
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Meet M-Shwari from Safaricom!!!!
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