MALI
MALI is a Money Market Fund approved by the Capital Markets Authority that allows M-PESA customers to invest in Unit Trust from as low as KSH 100 and earn daily interest.
The service is available on the M-PESA Super App under GROW and on USSD *334#, option 5.
On the M-PESA Super App, go to Grow > Select MALI > Acknowledge accepting T&Cs by Tapping on the Opt In tab > Enter M-PESA PIN. Alternatively, Dial *334# > Select 5. Financial services > Select 0. MALI > Select Accept the T&Cs > Enter M-PESA PIN.
Investing in MALI will give a competitive annual return. The interest is computed and compounded daily.
A 15% withholding tax is charged on any interest earned from your investment. Therefore, interest paid into your investment account is already net of these charges/fees.
Customers’ deposits and withdrawals from the MALI account will be free.
No. Customers will invest funds from their M-PESA accounts and or withdraw funds from their MALI accounts to their M-PESA accounts.
There is no maximum investment in Mali. However, the daily M-PESA transaction limit of Ksh.500,000 and per transaction limit of Ksh. 250,000 are applicable. The minimum amount to Invest is Kshs.100, and the minimum amount you can withdraw is Kshs.10.
The request will fail, and you will receive a message indicating the transaction range.
Next of Kin is the person whose details you update on MALI and in the event of incapacities such as sickness, mental instability, and death they can have access to your funds The customer (Next of Kin) will provide the following documents:
- A duly filled Mali next of kin claim of funds form
- Identification document (ID)
- Death Certificate
- Grant of Probate/Letter of Administration
- Letter from local Administration ascertaining the heir.
You’ll be required to visit the nearest Safaricom Retail shop or care desks for assistance with processing Next of Kin claim.
No. You cannot change the ownership of your MALI account. Should you need to change the ownership of your line, you’ll need to withdraw all your funds and opt out of MALI and follow the current process for change of ownership of MSISDN and/or account details.
After successful change of ownership of the MSISDN, and your Next of Kin details are captured, they will be able to Opt In to MALI to enjoy its services. The new owner of the line should opt into MALI to enjoy its services.
You will receive a prompt that advises you to withdraw all the funds before Opting out of MALI. Should you choose to withdraw funds and close account, then the funds will be automatically transferred to your M-PESA account and opt out request processed successfully.
To claim funds from a recycled SIM card, you will be required to fill in a claim form and present your ID at the Safaricom Retail shop or Customer Care desks
For support and inquiry, customers should contact Safaricom Contact Center on 100/200 or email: This email address is being protected from spambots. You need JavaScript enabled to view it. or visit the Safaricom Retail Center/ Customer Care Desk.
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