Vodafone launches new M-Pesa service in Kenya

Vodafone, the telecoms giant involved in the development of the M-Pesa service in Africa, has announced that from Tuesday 27th the service's Kenyan customers will have access to interest bearing saving accounts and have the ability to take out small loans through a new service, called M-Shwari.

Vodafone, the telecoms giant involved in the development of the M-Pesa service in Africa, has announced that from Tuesday 27th the service's Kenyan customers will have access to interest bearing saving accounts and have the ability to take out small loans through a new service, called M-Shwari.

The new service is the result of a new strategic cooperation between Vodafone, Safaricom and the Commercial Bank of Africa (CBA). Safaricom customers can sign up to the M-Shwari interest bearing savings account, provided by CBA, directly through the M-Pesa menu on their phone.

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