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Safaricom Mali is an investment tool that allows you to save money and earn some interest. According to the mobile service provider, the service is more convenient compared to banks and great for people who have no access to the financial institutions.

Safaricom Mali Investment, Terms and Conditions, Registration
Safaricom Mali Illustr. | Source: Wiki Commons

But, What Exactly is Safaricom Mali

Mali, itself, is a Swahili word for Wealth and so the service helps you accrue some wealth with your money on M-Pesa. The investment tool has a 10 percent annual interest, but you enjoy interest on daily basis. However, the interest is subject to 15 percent withholding taxes.

How to Register with Safaricom Mali

As it stands, you can register via USSD and you can start by dialing *230# and then agreeing to the service’s terms and conditions. The next step is to enter your M-Pesa PIN and after that you need to provide a valid email address and a contact of your next of kin.

To deposit money, you can use USSD or through PayBill on Safaricom Sim Tool Kit. The amount to deposit is between KSh. 100 and KSh. 70,000, and as far as withdrawal is concerned, you can get your money in smaller amounts or all of it. If the amount is above M-Pesa limits, you can do several withdrawals. It is free to deposit and withdrawal money, so here it outscores many investment services out there.

See Also: M-Pesa New Features and Improvements after Full Upgrade

Safaricom Mali Terms and Conditions

Well, you will be able to see all the terms and conditions when registering, but the service has some requirements. First, you must be an M-Pesa customer for the last 3 months and you shouldn’t have replaced your SIM card within the last 3 days. If you have more than one line with M-Pesa, each line qualifies for the Safaricom’s service.

In Conclusion

Safaricom Mali is under development and we expect it to offer more as the time goes on. The telecom has taken most of its services on its app, so we expect the investment tool to be available on the app in the future.

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