Many people in Kenya, salaried and non-salaried have different needs in some point in life. These needs could be urgent such as medical bills or school fees while others could not require fast actions. They make these people seek for a way of settling them by looking for money in different places. Most of the salaried individuals with bank accounts tend to take salary advances and loans from banks which they later pay after they get their salaries.

From this therefore, Cooperative Bank of Kenya understand this and have therefore incorporated their services to provide for different forms of loans depending on the different needs that Kenyans have in their lifetime. Cooperative Bank of Kenya is therefore a publicly listed bank that aspires to be the leading and dominant Kenyan bank with a strong countrywide presence playing a central role in the co-operative movement and providing the relevant and innovative financial services to their customers for the optimum benefit of all their stakeholders.

Cooperative Bank of Kenya from its development aimed at offering value added financial services to chosen market segments with special emphasis on the Co-operative movements through a highly effective network of service points, excellent customer services and a highly motivated team of qualified personnel. This bank presents different loans as below:

Personal Loan: this is meant for salaried individuals who have had their bank accounts with Co-operative bank for more than 6 months and through which their salaries are processed. These individuals can therefore get a loan of a minimum of Ksh 50,000 and a maximum of Ksh 4 million which is repayable to up to 60 months anytime they need the funds for different purposes. This loan covers virtually all the purchase needs of the salaried individuals and can be used by the loaned to buy shares on the NSE, to Top up their loan balance to the original amount, to finance the expansion of dairy production for dairy farmers or even for Sacco to on-lend to members.

Bizwise SME Loan: this is another form of loan from Co-operative bank which enable the businesspeople to expand their businesses. This loan will help in expanding your business by opening new branches, introducing new products, purchasing business assets, financing the operating expenses, purchasing assets such as land, building, motor vehicles and machinery. The Bizwise SME loan can be up to 50 million. The major requirements are:

• Need the applicant to have operated a business current account in Co-op bank for at least 6 months and should provide the bank with bank statements of other operational bank accounts.
• Business Registration documents such as Certificate of incorporation, Memorandum and articles of association and business registered certificate.

Insurance Finance Loan: this loan is given to people who have insurance policies to pay premiums every month. This loan is meant to ease the payment of these premiums as the bank pays a lump sum premium amount to the insurer on your behalf thereby leaving you to pay back the loan in simple monthly installments at very competitive rates. The bank also offer the flexibility of repayment ranging from 4 months to 10 months.

The major benefits of the loan is that it is tailored to suit the individual cash flow needs, frees up funds giving you the liquidity you desire, has easy application and documentation process and quick approval with no security needed. Furthermore, the minimum amount to be financed can be as low as Ksh 15,000 and with no maximum. The major advantage for this type of loan is that anyone is eligible to apply and cover almost all the insurance finance policies. To apply is easy and is done by visiting any Co-op bank branch countrywide or through your insurance broker.

 

Women and young girls in Kenya are viewed to be more vulnerable to most situations in a society. This makes them weak and not able to cope with the conditions that may take place in certain areas as compared to men. Women also are known to be well-off individuals who can develop the areas, as the society without women will be hard for survival. This has therefore made different financial institutions to provide the women with financial opportunities to develop their areas and business which will benefit them as well as the society.

Kenya Women Finance Trust (KWFT) is one of the financial institutions in Kenya which have been in the industry to empower women for the development of the society. This is a microfinance bank which is a deposit taking microfinances in form of loans which is meant for women and young girls in Kenya. It conduct nationwide deposit-taking microfinances in that it gives loans to its clients as well as mobilize and intermediate savings which is open to all women and young girls in Kenya. This is one of the microfinance institutions which offer the most competitive rates in loans and present various loans with different features to ensure they cover all the expectations of their clients on loans.

The various loans and their respective features presented by Kenya Women Finance Trust include;

Biashara Loans

This is meant to support women with small businesses to access affordable financial services. it aids in creation of employment and reduction of rural-urban migration. The features of this loan are a flexible security need, monthly loan repayment, flexible loan amount, business skills training, low processing fee, low monthly saving, loans amount from as little as Ksh 10,000 with loan premium insurance cover.

Mwangaza Loans

This enables the medium and big scaled business women to access affordable financial services as loans with low interest rates. The features involved in this loans are flexible securities, access to business skills training, flexible loan amounts, fast processing of loans, monthly loan repayment as well as loans are presented with a minimum amount of Ksh 50,000 to develop strong businesses.

Mwamba Loans

This is accessible by individual entrepreneurs with large scaled businesses to access affordable financial services. it can be advanced to customers to facilitate acquisition of assets like vehicle and machinery. This loan type present the loan client with accessibility to individual loans, no group guarantee, flexible loan amounts given, flexible monthly loan repayment plan, flexible security requirements as well as fast processing of the loans.

Elimu Loans

The clients are presented with loans to ensure that individuals have access to quality education for their families. The clients who have access to this type of loan are presented with some of the best features such as low interest rates with no hidden charges, cheque draw directly to the institution in question, loans up to Ksh 100,000, free bankers cheques as well as flexible repayment terms. This ensure that the clients are able to access the loans for education which is essential and enable them to repay with good terms.

Emergency Loans

Emergency are inevitable in a certain area and therefore this institution have a clear understanding of that and thereby present their clients with loans in case of adverse or unforeseen events. They project the clients against adverse effects and reinstate their businesses to their normal states. They present the customers with affordable interest rates, flexible repay period, flexible security needs and it covers livestock death, stock loss, fire and burglary.

Nursing Loans

This loan type extends life enhancement to clients through strategic partnership. They offer convenient, time saving and economic solutions to clients. The features of this loan include customized unsecure financing, 110 fully equipped eLearning centers in Kenya as well as examinations and qualification offered by the Nursing Council of Kenya.

Stima Loan

Electricity is one of the essential services that people need for various domestic and industrial purposes as most businesses are based on electricity. This loan therefore facilitates electricity connectivity in environmental friendly ways, thus enhancing public-private strategic partnership and also creates employment. The features include flexible loan amounts, low processing fee, flexible security requirement, flexible repayment period and monthly loan repayments.

In Kenya Microfinance Institutions are licensed by the Central Bank of Kenya to mobilise savings from the general public, thus promoting competition, efficiency and access. It is, therefore, expected that the microfinance industry will play a pivotal role in deepening financial markets and enhancing access to financial services and products by majority of the Kenyans. Here is a list of licensed microfinance institutions; 

Faulu Kenya DTM Limited

Postal Address: P. O. Box 60240 – 00200, Nairobi

Telephone: +254-20- 3877290

Email: [email protected],

Website: www.faulukenya.com

Physical Address: Faulu Kenya House, Ngong Lane -Off Ngong Road 

Kenya Women Finance Trust DTM Limited

Postal Address: P. O. Box 4179-00506, Nairobi

Telephone: +254-20- 2470272-5, 2715334/5, 2755340/42

Email: [email protected]

Website: www.kwftdtm.com

Physical Address: Akira House, Kiambere Road, Upper Hill, 

SMEP Deposit Taking Microfinance Limited

Postal Address: P. O. Box 64063-00620 Nairobi

Telephone: 020-3572799 / 26733127

Email: [email protected]

Website: www.smep.co.ke

Physical Address: SMEP Building – Kirichwa Road, Off Argwings Kodhek Road 

Remu DTM Limited

Postal Address: P. O. Box 20833-00100 Nairobi

Telephone: 2214483, 0733-554555

Email: [email protected]

Physical Address: Finance House, 14th Floor, Loita Street

 Rafiki Deposit Taking Microfinance

Postal Address: 12755-00400 Nairobi

Telephone: 020-216 6401

Cell – phone: 0719 804 370/0734 000 323

Website: www.rafiki.co.ke

Physical Address: 2nd Floor, El-roi Plaza, Tom Mboya Street 

 UWEZO Deposit Taking Microfinance Limited

Postal Address: 1654-00100 Nairobi

Telephone: 2212917 / 9

Website: www.uwezodtm.com

Physical Address: Park Plaza Building, Ground Floor, Moktar Daddah Street 

 Century Deposit Taking Microfinance Limited

Postal Address: P. O. Box 38319 – 00623, Nairobi

Telephone: +254-20- 266428, 0722 168721, 0733 155652

Physical Address: KK Plaza 1st Floor, New Pumwani Road, Gikomba 

 SUMAC DTM Limited

Postal Address: P. O. Box 11687-00100, Nairobi

Telephone: (254) 20 2212587, 20 2210440

Website: www.sumacdtm.co.ke

Physical Address: Consolidated Bank House 2nd Floor, Koinange Street

 

9. U&I Deposit Taking Microfinance Limited

Postal Address: P.O. Box 15825 – 00100, Nairobi

Telephone: Mobile: 0713 112 791

Email: [email protected]

Every week a major newspaper in Kenya writes about a Chamaa that is doing very well. A Chamaa in Kenya is that group of people who pool resources together usually once a month and use the resources to uplift one of the members. This cycle is repeated until all the members benefit from the pooled resources in that Chamaa. In Kenya, a lot of Chamaas start small. How is a Chamaa made in Kenya? A group in Kenya could be of friends who have come together and decided to contribute a certain amount of money each month. This money is usually used to purchase certain items or pay bills. Women in Kenya are especially adept when it comes to starting and joining Chamaas.

However, without carefully planning, a Chamaa in Kenya tends to act just like a low savings account. A low savings account in Kenya is one you put money in it and at the end of the stated period, the money you get from it is just a total of your monthly savings. But there is a way that many Kenyans are making Chamaas work to their benefit. How can you make a Chamaa work in a beneficial way in Kenya? Here is a way;

What is the goal of a chamaa in Kenya?

Discovering your goal is the first step you should undertake before deciding to join a Chamaa or forming a chamaa in the first place in Kenya. What is your goal? Why do you want to join a Chamaa? Is it because you need extra money or is it because you want to be part of a group? Are you focused on investments in Kenya or are you satisfied with savings? The answers you give to these questions will enable you to decide the type of Chamaa you should join or form in Kenya.

Like-minded people in Chamaas in Kenya

Before you start a Chamaa in Kenya, you should endeavor to do so with people who share the same goals as you do. Of course, they should also be people in Kenya who can afford the money for the monthly contributions and those who will be willing to increase the amount of the contributions after a given time.

Grow your savings in a Chamaa in Kenya

It makes little sense to keep contributing the same amount of money each month only to receive an accumulated amount after several months. For example, a group of five people in Kenya contributing Kshs1000 each will mean that an individual will receive KShs5,000 when her turn comes. This means that if the individual put Kshs1,000 in a box, at the end of five months she will still have the same Kshs 5,000, thus, eliminating the need of a Chamaa in Kenya.

But in a Kenyan Chamaa where members contribute Kshs1,000 but an individual is given only Ksha2,500 and the rest of the money is saved in an account will be in a better position to loan out the money to members in case of an emergency. Banks in Kenya allow groups to open group accounts. You can use the loan money to buy a piece of land in Kenya or put yourself through a course to boost your education in Kenya.

Use the Chamaa to invest in Kenya

A Chamaa in Kenya can serve a higher purpose as an investment group. This is where the group members contribute to start a business or invest in a project in Kenya. This does not have to be done as a group only but can also be done individually. You can decide to contribute money without using the money for a period of one year. After the period has elapsed, you can come up with a formula of giving the members a startup loan for their individual businesses. This loan will of course be repaid with profit.

Tip to remember about a Chamaa in Kenya

You should never save more than you are willing to lose. If you put all your life spending in a Chamaa in Kenya, and something goes wrong or a member defaults on payment, then you will end up being crushed. If you use your Chamaa as a financial vehicle, then all rules pertaining to financial transactions in Kenya should be applied. Yes, a Chamaa in Kenya is a great way to bring about self-improvement and achieve financial goals.

How to Withdraw Funds from PayPal through Equity Bank PayPal Withdrawal Services in Kenya

PayPal is one of the best e-payment services which enable swift, safe and secure online money transfer and has the lowest transaction fee. It enables people from almost any part of the world to receive and make payments internationally and is majorly used to make payments by the freelance gigs.

However, the major challenge mainly experienced by Kenyans with PayPal accounts is withdrawing their funds to their local bank accounts. This makes them to look for alternative withdrawal services such as Payoneer or Skrill. From this challenge, Equity bank has tried to sort the challenge and has finally come up with a PayPal withdrawal service which enable Kenyans with PayPal accounts to withdraw funds paid into their PayPal account directly to their Equity Bank accounts, by partnering with PayPal services through South Africa’s First Community Bank.

This withdrawal services are exclusive to Equity Bank customers and available for both individual and business customers with an active qualifying Equity Bank account. The qualifying accounts are the transactional accounts in KES or USD which excludes the Credit Cards. When the account holder need to withdraw funds from the PayPal account, they need to specify the US Dollar amount they want to withdraw and in case, the currency in the account is different, PayPal with auto-convert the amount to US dollars during the withdrawal process.

The PayPal EQUITY BANK withdrawal Procedure:

First and Foremost, a PayPal account is needed and should therefore be created and verified for the full functionality and is created in the PayPal website at www.paypal.com and click on create account. An equity bank account is also required and when registering it, it should be submitted with an email address and/or cell phone number in any equity bank branch. The email/cellphone number is used for various verifications in the withdrawal process.

Secondly, log on to www.equitybankgroup.com and select the Equity Bank PayPal Withdrawal service link which will redirect you to Equity Bank PayPal services website. On the PayPal withdrawal service landing page, select withdraw from PayPal menu option.

Thirdly, from the customer type selection page, you will need to make the appropriate selection as either individual or business and enter your Equity Bank account number and select the submit button. Ensure that the account is registered in the individual or personal capacity performing the transaction and that they are authorized to transact on the account.

Fourthly, after submitting the account number, a One Time PIN (OTP) will be sent to the cell phone number and/or email address as per the Equity Bank contact details for the nominated account and complete the information on the personal details/business details page. The withdraw amount must be in USD.

Fifthly, view the quote and accept the terms and conditions and review the information displayed on the confirmation screen and click on the confirm button to proceed with the transaction. It will redirect to the PayPal website where logging to the specified PayPal account is required and confirmation of the transaction.

Sixthly, once the transaction has been confirmed, it will be redirected back to the Equity Bank PayPal Withdrawal services page. On the result page, the transaction status and the transaction reference number will be displayed.

Lastly, click on the finish button to complete the process. The specified Equity bank account will be credited with the net amount due after all the fees have been deducted and within 8 business days.

This services will therefore improve the general money transfer in the international payment services as it has turn out to be one of the cheapest forms of withdrawing money from international payment services which accept PayPal. It also has lowest charges of only 1.5% on the amount. For example, withdrawing Ksh 20,000 from PayPal will only cost Ksh 300. They therefore will enable people to gain more profits from their international businesses as compared to earlier where all the profits could be washed away by the high withdrawal charges.

Banking has become one of the critical aspects of life as there have been the emergence of theft which is of complicated mode. Most of the banking customers have been afraid to bank as they fear that their accounts would be hacked and lose their money. Those that bank ensure that they choose the most secure banks for the maximum security of their accounts and their money.

Advancement in technology has led to the emergence of other modes of banking such as online banking where you can bank money online and access their accounts anywhere anytime. Other banking institution have been established to ensure that their customers can send and receive money from outside their countries or internationally. They also offer their customers with depositing funds online securely and effectively. These banking institutions include MoneyGram, Western Union and many more.

MoneyGram is a global payment services company that enable their customers to send and receive funds globally as well as paying bills online. Their payment services ensure that businesses operate efficiently and cost effective. The services they offer include the global fund transfer where the global money transfer services allow consumers to send and receive money worldwide, primarily through a global network of third party agents that use their money transfer systems. In addition to person-to-person, customers have alternatives in money transfer delivery channels such as direct-to account, ATMs and kiosks deposit and cash receive, cash-to mobile phone and cash-to-card.

MoneyGram offer other services such as the bill payment services which allow consumers to make urgent payments or pay routine bills through a network of certain creditors. They maintain relationships with the billers in key industries which include the credit card mortgage, auto finance, telecommunication, correction, satellite, prepaid card and collection industries. Bill payment services also ensure that the customers can be able to load and reload their prepaid debit cards.

How to transfer money using MoneyGram;

To transfer money online is an easy, affordable and fast. Firstly, enter the amount you want to send and where you want to send it. You will also be asked to provide the recipient’s name in the online form you are filling in their site. Secondly, the process would be completed and the reference number would be send to the sender of the money. The reference number send to you by MoneyGram would be required that you share with your recipient so as to ensure that the recipient vary that the money was send to him/her. Afterwards, the recipients can visit the MoneyGram location near them with the reference number to withdraw their money.

To transfer money from a MoneyGram Location, you should visit the MoneyGram location and bring along with you a personal identification. Present the MoneyGram rewards card to the agent or complete a simple send form and hand the form to the MoneyGram agent together with the amount you want to send and the transfer fee. You should also include a ten-word message in the form. You will be presented with a reference number which you should contact the person you are sending the money and share with them the reference number. After 10 minutes, the money is ready for collection to the MoneyGram agent or location near the Recipient.

Contacts of MoneyGram services;

They can easily be contacted through phone or email. They ensure that the respond to the enquiries fast and efficiently. They have also made it possible to report fraud online so that any transaction made is safe and no one losses their hard earned money to the fraudsters. There contacts are made by filling a form online in which you provide all the details and leaving your email address or phone and they will contact you as soon as possible.

 

MPesa service in Kenya is the revolution that changed how Kenyans send and receive money. The advantageous thing about MPesa services in Kenya, is that Mpesa outlests in Kenya are found in numerous locations and eliminate the need of travelling far to access funds in Kenya. The extensive use of Mpesa services by Kenyans to send and receive cash, access bank services on the phone in Kenya, paying bills with M-pesa in Kenya and top up the phone or someone’s phone, makes Mpesa in Kenya to stand out from its competitors within Kenya. This is why it can be such a frustration when your Mpesa is not working well due to SIM card problems in Kenya.

Once in a while, things happen such as sending money to the wrong number in Kenya or pressing the wrong pin number one too many times and your Mpesa number gets blocked in Kenya. When your MPesa service is blocked, it means that you will not be able to have access to the services of M-pesa or Safaricom in Kenya. Well, there are two ways you could go about having your number unblocked in Kenya. One way is to head to Safaricom shops in Kenya or Safaricom headquarters in Nairobi or anywhere in Kenya and talk to a Safaricom agent in Kenya who will then unblock your MPesa. This requires time, money and travels for most people in Kenya and, therefore is quite an inconvenience.

The other way is to phone the MPesa agents in Kenya. This you do by dialling 234, without the star and hash. You will be given a series of instructions depending on which Safaricom services in Kenya you want to access. Press the button for the MPesa services. Now, comes the hard part – getting through to an agent. If you are fortunate you will get through to an agent on your first dial, but this does not happen often. You would more likely get the voice on your phone instructing you to wait for an agent in Safaricom customer care centre in Kenya to answer your call. This would be followed by a narration of the services offered by Safaricom and then some form of music that goes on and on.

Of course, if you have the patience you can wait for an Safaricom agent in Kenya to become available while you listen to the music. In which case, you may get through or the phone call would end automatically after a while. However, you may use another tactic. After you have dialled the number and been directed to the service you want and you hear the music, hang up your phone. Hung up and dial the number again. You may have to do this several times. Yes, it is a little cumbersome, but as long as you’re waiting, you might as well be doing something, right? And this method is guaranteed to work. You could also opt for the option where you are asked if you wish Safaricom in Kenya to call you back, which requires you to dial a number, dial that number and the call will disconnect. After waiting for a while, Safaricom in Kenya will get back to you through the Safaricom official customer care number in Kenya which is 0722,000,000.

Once you get through to a Safaricom agent in Kenya, things move quickly from there. You should state the reason for your call. Once you do this, the agent will ask you a series of questions that would be able to assess your sincerity and protect you from fraudulent people. Once you answer the questions, the MPesa agent in Kenya will unblock your phone. You will be asked whether you remember your pin number or not. Remember, your pin number is for you to know and you should never give it to anyone even an agent. If you remember your MPesa pin number, then you should be able to easily access your MPesa services in Kenya and continue using MPesa to make your life a bit easier. Kenyans are now able to transact easily through Mpesa and in case of hiccups, they are now easily resolvable now.

The migration to a digital world is here with us in Kenya. This means no more queuing in bank halls in any part of Kenya, no more standing in sluggish stretched curled queues somehow wishing the bank clerk stops playing with the keyboard pretending to be working or better yet in extreme cases hoping that at least a few people in front of you give up the wait and literally leave the bank. Having a transaction at the bank in Kenya meant skipping lunches and cancellation of appointments cause of the necessity of being physically there in banks in Kenya to do your banking activities

Equity bank in Kenya has finally come up with a service for the customers that has made banking easy from anywhere in Kenya at any time. EAZZY 247 in Kenya is the banking service that allows bank customers in Kenya to access the information in their accounts without having to leave the comfort of their sofas.

How To Register for Eazzy 247 in Kenya

Visit your Equity Branch officer in Kenya and ask for an eazzy form, in which you will be required to enter your account number, your national ID card for security purposes and your preferred mobile phone number, for which you will use for all transactions conducted in the account with. The Equity bank in Kenya will process your information and send you a confirmation message. You will also receive a five digit password in which you will use for activation process of Eazzy 247.

How To Activate Your Eazzy 247 Account in Kenya

Dial *247# on your mobile phone while in Kenya. Reply with your pin. Enter the pin that was sent by the Equity bank and you will then be required to change your pin to a more convenient secure one. A confirmation message will be sent to your phone immediately afterwards while activating Eazzy 247 in Kenya.

Now log in by using your customer ID and your 5 digit pin on Eazzy 247. The main menu would appear that includes Air time top up, Mini statement, Balance enquiry, Funds transfer, Bill payment and Requests. Afterwards follow the instructions given on Eazzy 247, and carry out your bank transactions on the phone while at home.

EAZZY 247 in Kenya is a product of Equity Bank in Kenya means the end of many inconveniences of not meeting payment deadlines, end of rushing to banks hoping you just in time and that you will not find the front door closed, end of filling out deposit forms, end of standing in long queues in Kenyan banks for long periods of time until one feels faint. Eazzy 247 by Equity Bank in Kenya finally has the end of banking troubles in Kenya.

Banking services in Kenya has been revolutionized by the use of modern technology that all the other sectors of economy are experiencing. Many banks have therefore incorporate the modern technology and used it to improve on their services quality. Many banks have introduced other banking services through technology and may include internet banking where the people can access their bank accounts and make any transaction from anywhere in the world through the internet, mobile banking services where people can access banking services through their mobile phones as well as has increased security of the banking services.

Mobile operators and bank accounts have therefore mostly collaborated to provide banking services. The mobile banking services that have been in existence are as a result of the Kenyan banks and mobile service providers’ collaboration. In the recent past, Safaricom and Equity bank in collaboration introduced a banking services known as “M-KESHO” for their customers and ensuring that it is very standard and beneficial to the customers.

M-KESHO is a financial service that is linked to Safaricom M-PESA and Equity bank accounts. In the M-KESHO saving account, it let the customer be able to manage their funds between the M-PESA account and an account based in Equity bank through their phones. This account also allow sending money/fund transfer between the bank account and M-PESA system. Unlike M-PESA, M-KESHO accounts pay interest, have no balance limits and offer emergency credit and insurance facilities. Other features that are offered and supported by M-KESHO include micro saving accounts with interest of up to 3% half-yearly, Micro Credit for credit services with maximum of Ksh 5,000 as well as Micro Insurance products which cover almost all incidents which need insurance. The insurance covers involved may be health, accidents, medical cover and many more products and covers.

With this account, full accessibility of the services is through M-PESA menu services, the account is affordable with no charges, no ledger fees and no minimum balance that the account should have. The registration process is easy and free of charge from any Equity bank outlet or agent countrywide. Through the mobile phones, the registered M-KESHO customers will be able to access the services through M-PESA menu or through Eazzy 24/7 phone menu.

Registration Procedure for M-KESHO:

• The registration for use of the M-KESHO is easy, fast and efficient. The interested Safaricom or Equity bank customers should visit the nearest Equity bank outlet or M-PESA agents countrywide with a copy of their original National I.D.
• The bank or the agent will provide an M-KESHO account opening application form which should be duly completed with the applicant providing the accurate and up-to-date information.
• After the submission of the application form, the applicant will need to also attach the application forms with a passport sized photograph and provide their register Safaricom phone number which will be linked with the M-KESHO account.
• The application forms are processed within two business days after which the M-KESHO menu would be incorporated and available in the M-PESA phone menu of the applicant and ready for use for any transactions involving M-KESHO.

National Security Social Fund is a contribution platform in which people over 18 years and who are either employed by their employers or self-employed can register and start to make savings every month from their salaries for their brighter future life after retirement. This platform ensure that the contribution made by each member also attract interests along the way until it attains maturity when the member attain 55 years according to their registration details. After attaining the withdrawal period, the member can withdraw all their saving accompanied by their interests and use it for their future life out of employment.

Registration to National Social Security Fund

This platform registers self-employed people who volunteer to make contribution every month at the time of their choice and also employed people whose contribution to their NSSF accounts are deducted from their salaries by their registered employers who then top up their salaries with the same amount contributed to NSSF.

Registration to National Social Security Fund is easy and fast as people visit their nearest NSSF office to register. The registration process for the employed requires the Original National Identity Card, Alien Card or Passport and a Photocopy of any of them as well as a letter of introduction from your employer. You will be register as a NSSF member once your details are recorded and been issued with a NSSF membership card with an NSSF number which will be used by your employer to make contributions to your NSSF account every month. Members may also register online through NSSF e-service at their website accessed at www.nssf.co.ke

NSSF may also require you as a self-employed member in which you make contributions voluntarily at any time of your choice. You get registered by providing you National Identity Card, Alien card or Passport, photocopy of any and a minimum of Ksh 200 for your card activation. From here, you are provided with a membership card and you can start to make contributions or register online from their portal www.nssf.co.ke

M-PESA Contribution procedure

• As a registered NSSF member, you can make your monthly contribution by using the mobile banking service of M-PESA. This method is majorly open to self-employed members who make contribution at any time of their choice.

• To contribute to NSSF with M-PESA, you must be a registered M-PESA user, then from your M-PESA menu select payment services. From the services menu, select PAYBILL and enter the NSSF business number which is 333300 followed by the account number which is in your membership card. Input your contribution and enter your M-PESA PIN then confirm by pressing OK. A confirmation message would be sent to confirm that your contribution has been received by NSSF.

 Kenyans through NSSF has benefited from this savings since they can life normal lifes even after retirement from their active employment. They are still able to undertake the activities which they were undertaking during their employment periods hence living good lifes with no stress and financial constraints as compared to people who did not make any savings during their employment periods.