MOBILE BANKING

Reprieve for M-Shwari customers in new Safaricom, NCBA partnership

In Summary
  • This follows the Government’s directives to manage the socio-economic impact of coronavirus (COVID-19), in the country.
  • Starting tomorrow and for the next 30 days, all M-Shwari late payment sanctions including rollover fees will be deferred by 30 days.
NCBA Bank Kenya PLC designate chairman Isaac Awuondo with group managing director John Gachora during the unveiling of NCBA group new logo at Raddison Blu Hotel,Nairobi,October 3rd 2019,/DOUGLAS OKIDDY
NCBA Bank Kenya PLC designate chairman Isaac Awuondo with group managing director John Gachora during the unveiling of NCBA group new logo at Raddison Blu Hotel,Nairobi,October 3rd 2019,/DOUGLAS OKIDDY

NCBA Group and Safaricom have introduced various measures to offer financial relief to their Mshwari customers.

This follows the Government’s move to manage the socio-economic impact of coronavirus (COVID-19), in the country.

From Friday,  and for the next 30 days, all M-Shwari late payment sanctions including rollover fees will be deferred by 30 days.

CRB listing of M-Shwari customers will also be suspended for the next 90 days.

To promote cashless payments, customers can move any amount between M-PESA and M-Shwari at no additional cost and can save any amount on M-Shwari and earn interest of up to 6 per cent.

“As coronavirus continues to stir global economic fears, NCBA will continue to support our customers who may be financially affected by the outbreak,” said John Gachora, Group Managing Director, NCBA.

He said NCBA and Safaricom want to ensure M-Shwari customers suffer minimal impact.

“We are glad to leverage our longstanding partnership with NCBA to explore ways in which we can make life easier for our customers through our services,” said Sitoyo Lopokoiyit, Chief Financial Services Officer, Safaricom.