---
title: Mobile service offers saving accounts and loans in Kenya - Developing Telecoms
description: As part of Kenya’s highly successful mobile money scheme, users of Safaricom’s M-Pesa service now have access to interest-bearing saving accounts as well as the ability to take out small loans. 
canonical_url: https://developingtelecoms.com/telecom-technology/financial-services/4253-mobile-service-offers-saving-accounts-and-loans-in-kenya.html
language: en-GB
date: 2013-08-14T14:38:47Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-technology/financial-services/4253-mobile-service-offers-saving-accounts-and-loans-in-kenya.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1210
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-technology/financial-services/4253-mobile-service-offers-saving-accounts-and-loans-in-kenya.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


 [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html)## Mobile service offers saving accounts and loans in Kenya

 

 

   Details    James Barton    Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html)     29 November 2012     9157 views   

 

  ![](https://developingtelecoms.com/images/stories/highResLogos/800x600/placeholder-logo_1200x900.png)  

 

As part of Kenya’s highly successful mobile money scheme, users of Safaricom’s M-Pesa service now have access to interest-bearing saving accounts as well as the ability to take out small loans...

As part of Kenya’s highly successful mobile money scheme, users of Safaricom’s M-Pesa service now have access to interest-bearing saving accounts as well as the ability to take out small loans. The new service, called M-Shwari, is the next step for increasing further access to a wider range of financial services.

Brought about by strategic cooperation between Vodafone, Safaricom and the Commercial Bank of Africa (CBA), M-Shwari is available through the existing M-Pesa menu that customers can access through their handsets. There are no forms to complete and no need to visit a bank branch. M-Pesa customers can also apply to CBA for a mini-loan, again directly from their phone. Based on the individual customer’s M-Pesa transactions and savings history, CBA determines the customer’s eligibility and debits the money to their account immediately.

Michael Joseph, Director for M-Pesa within Vodafone Group, says: ‘M-Shwari is a transformational service. Saving is no longer the privilege of an elite - all Kenyans can now save, even the smallest amounts and at their own pace. M-Shwari creates a safe environment for customers to borrow small amounts and links the amounts of credit available to the ability to save.’

 

 

   
## More Articles you may be Interested in...

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/www.developingtelecoms.com\/#james_barton_4d6427c012"
            },
            "dateModified": "2013-08-14T14:38:47Z",
            "datePublished": "2012-11-29T12:07:36Z",
            "description": "As part of Kenya’s highly successful mobile money scheme, users of Safaricom’s M-Pesa service now have access to interest-bearing saving accounts as well as the ability to take out small loans. ",
            "headline": "Mobile service offers saving accounts and loans in Kenya",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/placeholder-logo_1200x900.png",
                    "caption": "",
                    "description": "",
                    "width": 1200,
                    "height": 900
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/www.developingtelecoms.com\/telecom-technology\/financial-services\/4253-mobile-service-offers-saving-accounts-and-loans-in-kenya.html"
            },
            "publisher": {
                "@id": "https:\/\/www.developingtelecoms.com\/#defaultPublisher"
            },
            "url": "https:\/\/www.developingtelecoms.com\/telecom-technology\/financial-services\/4253-mobile-service-offers-saving-accounts-and-loans-in-kenya.html"
        },
        {
            "@type": "Person",
            "name": "James Barton",
            "@id": "https:\/\/www.developingtelecoms.com\/#james_barton_4d6427c012"
        },
        {
            "@id": "https:\/\/www.developingtelecoms.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/www.developingtelecoms.com\/",
            "logo": {
                "@id": "https:\/\/www.developingtelecoms.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/www.developingtelecoms.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->