Safaricom and Kenya Commercial Bank (KCB) have recently entered into a groundbreaking agreement that paves the way for Mpesa agents to access loans from KCB. Mpesa, a renowned mobile money transfer service owned by Safaricom, relies on the dedicated efforts of Mpesa agents who facilitate seamless transactions for Mpesa account holders, enabling them to deposit and withdraw funds. Through this partnership, Mpesa agents will now have the opportunity to secure bank loans from KCB, empowering them to expand their businesses and enhance their operational capabilities.

The loan facility for Mpesa agents offers a range of benefits perfectly tailored to meet their specific needs and expectations:

  • Business Expansion: Mpesa agents can utilize the loan facility to expand and diversify their operations, taking their businesses to new heights.
  • Affordable Rates: The loans provided through this partnership come with competitive and affordable interest rates, ensuring that Mpesa agents can manage their finances efficiently.
  • Mpesa Operating Float Management: The loan facility enables Mpesa agents to effectively manage their Mpesa operating float, ensuring smooth and uninterrupted transactions for their customers.
Customized KCB Mpesa Account: Mpesa agents will have access to a specialized KCB Mpesa account designed to cater to their unique requirements, streamlining their banking activities.

The collaboration between Safaricom and KCB opens up a world of advantages for Mpesa agents, including:

Overdrafts and Loans: Mpesa agents can benefit from overdraft facilities and loans, providing them with the necessary financial resources to grow their businesses and meet their aspirations.

Nationwide Access: The loan facility is available through numerous KCB branches across the country, making it convenient for Mpesa agents to access financial services regardless of their location.

Increased Operating Capital: Mpesa agents can leverage overdraft facilities to boost their operating capital, facilitating smoother day-to-day operations and promoting business expansion.

With over 22,000 agents nationwide and a customer base exceeding 13.5 million, Mpesa has established itself as one of the most successful and thriving businesses in the country, exemplifying its immense potential for growth and impact.

Under this loan facility, Mpesa agents will have the opportunity to access loans ranging from Kshs.2 million to Kshs.5 million, with Safaricom acting as the collateral. KCB stands to benefit from the returns generated by the facility, while Safaricom envisions the continued prosperity and advancement of its Mpesa division.

This partnership between Safaricom and KCB not only strengthens their collaboration but also unlocks new avenues of growth for Mpesa agents, empowering them to drive their businesses forward and contribute to the economic development of the country.