Commercial Bank of Africa (CBA) has partnered with Safaricom, to launch an incentive-based campaign to grow users of its mobile banking service M-shwari.
The campaign, dubbed Tell-A-Friend, targets M-PESA customers who are yet to start using the mobile savings and micro – loan solution launched nearly two years ago.
Under the plan current M-Shwari customers nominate their friends and family to join M-Shwari by dialing *234*6#
“M-Shwari stands out as the biggest disruptive innovation in the Financial Sector this decade. It provides Kenyans with the much desired savings convenience which encourages a savings culture, a key component for development, both individuals and the country in general”, said CBA Kenya’s Chief Executive Officer, Jeremy Ngunze.
Customers who manage to get their friends and family to join M-Shwari through Tell a friend will be incentivized with Sh 20 worth of airtime, and another Sh 20 worth of airtime, when the new customers make the initial saving on M-Shwari of at least Sh.1
Each customer can nominate up to 10 people in a day, in the incentive-based campaign.
“M-Shwari has already registered over 7 million customers in its first 18 months of existence, we feel that there are still more opportunities to deepen financial inclusion among our customers,” said Safaricom’s General Manager of Financial Services, Betty Mwangi-Thuo.