Kenya’s Safaricom to let users swap Bonga points for shares

NAIROBI: Customers of Kenya’s Safaricom will be able to buy shares in the 62 listed companies on the local bourse using points from Safaricom’s loyalty programme, the telecoms group and the Nairobi Securities Exchange said on Monday.

Safaricom’s Bonga loyalty scheme has 16 billion outstanding points among individual and corporate users, worth more than 4 billion shillings ($37 million).

Users earn one point for every 10 shillings spent on Safaricom services, and under the share purchase scheme five of those points will be worth 1 shilling towards the purchase of shares on the Nairobi bourse.