How To Use Safaricom Bonga Points To Purchase NSE Shares

At the Nairobi Securities Exchange (NSE) earlier today, President William Ruto was jokingly told by Safaricom CEO Peter Ndegwa that he could demonstrate how to use his bonga points to buy shares.

The comment caused amusement in the room, but it did highlight one of the telco’s most underutilized alternatives for redeeming bonga points.

President Ruto rang the bell to inaugurate the enhanced Nairobi Securities Exchange Market Place, and Mr. Ndegwa took the opportunity to remind him and the nation at large of the untapped potential in bonga points. It was also timely because it provides a great opportunity for hustlers to invest in the NSE and take their hustle to the next level.

Safaricom introduced the Bonga loyalty program in 2007 to reward customers for using Safaricom’s products and services. For every Ksh10 spent on voice, data, SMS, and M-PESA charges, customers earn one point.

Customers can now use their points to pay for goods and services at Lipa Na M-PESA merchants across the country. Customers can also use their points to pay their utility bills, including Home Fibre, PostPay, KPLC, and DSTV as well as NHIF and NSSF dues.

Lipa Na Bonga

Deepening this process, the telco launched an initiative with NSE to allow customers redeem their bonga points to invest in the NSE by using MySafaricom App or via USSD *126#

When launching it, Mr. Ndegwa said that it gives their customers more value and utility for their Bonga Points while creating more avenues for driving economic empowerment.

To invest, customers will redeem their points at a rate of Ksh1 for every 5 points via the ‘Lipa Na Bonga’ menu on USSD *126# or MySafaricom App. Customers will then key in the Trading Participant’s paybill number followed by their CDSC (Central Depository and Settlement Corporation) account number.

Ten licensed Trading participants who registered for the service include NCBA Capital, Faida Investment Bank, AIB-AXYS, ABC Capital, Old Mutual Securities, Kingdom Securities, Suntra Investments, Francis Drummond & Company, Dyer & Blair Investments and Sterling Capital LTD.

Geoffrey Odundo, the Chief Executive Officer, Nairobi Securities Exchange affirmed that the initiative will unlock more investment opportunities to investors using convenient and innovative solutions.

One hopes that when the plans by the government to private struggling state corporations begin, Safaricom will run campaigns and outreach to remind Kenyans how they can buy the shares using bonga points.