Njunge wrote:murchr wrote:In the US there's a platform called Betterment. Similar to this only that any dividends that come up are reinvested. If Mali succeeds and increases its product line, it will finish some of these brokers.
I can't see any reason why it will not succeed given the number of Mpesa registered users.There are many who opt to have their money on mpesa wallet than in a bank account given their level of income. When you throw in zero charges for withdrawals and access anytime, the masses will surely be on your side. I like the new Michael Joseph. Simple,honest but still with the eyes on the profits!! Soon, Safaricom will be one of the biggest investment bank around.Quite shrewd
Becoming a bank by stealth. The only plank left is to apply for a licence. Heck, they even have a digital deposit taking function, through Mpesa, although no one calls it that and they have been recently trying to covert that float into time deposits through the 'it is safe to leave your money in Mpesa, campaign.'.
I say more power to Safaricom. With this level of disruptive competition we might even see an end to the shylocking behaviour of normal banks.
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)