Welcome to this guide on how to make money online in Kenya through MPESA with the Safaricom Mali Unit Investment Trust.
Unlike other days where we talk about money-making apps, today we will talk about a more long-term and secure strategy- investing.
Warren Buffett said;
“If you don’t find a way to make money while you sleep, you will work until you die.”
In other words, building multiple streams of passive income is the secret to financial freedom.
Investing in the unit trust market is one of the best passive income streams.
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What is Safaricom Mali Unit Investment Trust?
Mali is simply the Kiswahili name for the English term wealth.
Mali is the newest investment product or fund for Safaricom M-PESA users who want to build wealth through investing.
This type of investment fund is where the fund manager collects funds from a pool of investors, then invests it in different ventures.
The profits from those ventures are then shared among the investors and fund managers.
Mali is owned, managed, and operated by the parties below;
Safaricom MPESA: The system which will power all electronic money transfers and payments
Fund manager: Genghis Capital Limited will both be the account administrator (powering the opening and operating the Mali account), and the fund manager (carries out the daily trading or units)
Trustee: KCB Bank
Custodian: SBM Bank, which the trustee bank appoints to offer custodial services.
Who Are Eligible to Join Mali?
Any registered MPESA user for at least 3 months
Have a Safaricom SIM card that has not been replaced within the last 3 days
Persons who are at least 18 years and above
A person who has read and understood these Mali investment terms and conditions.
What Are the Benefits of Joining Mali?
A Low Deposit: The minimum deposit is KSH 100, while the maximum is KSH 300,000, which aligns with the current daily transaction MPESA limit.
Instant Withdrawal: You can withdraw a full or partial amount from your investment anytime.
Transaction: Be able to transact freely with no transaction fees.
Diversification: If you have multiple MPESA-registered Safaricom lines, you can open different Mali accounts with each of them. For example, you can have a personal Mali account and another for your business.
How Can You Join Mali?
USSD Code: Dial *230#, select Mali from the option, and complete all the other prompts. You can also use the SSD code *334#, choose option 5 of the financial services, then option 1, which is Mali.
Mpesa App: Locate the product Mali under the services list, then follow the other registration and account setup prompts.
Customer Care: Call Safaricom customer care at 0722000000, then ask them to help you with the registration.
How Much Can You Make with Mali?
Currently, Mali is promising to offer an interest of 10% annually.
This is impressive because most unit trust in the Kenyan market offers approximately 9%.
Even Cytonn Investments considered the best gives 11%, which is not constant because sometimes it goes to 10%.
What Are the Fees Associated with Mali?
The fund management fee by Genghis Capital is 2% per annum.
They are withholding an investment tax fee of 15% per annum. This fund is not charged on interest earned but, on the amount, invested.
Trustee fee for KCB bank, is 0.2% per annum.
The custodial fee charged by SBM Bank will be 0.15% per annum.
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