In December 2019, Safaricom PLC introduced Mali, an investment tool designed to allow M-PESA users to begin investing with as little as KES 100 for daily interest. To make it simple, Safaricom wanted to do users to have more to do with M-PESA than just normal transaction, typical saving and getting loans and overdrafts.

The tool, as of now, is set to give users a return of 10% interest annually. Investors on the service are also able to access their investments instantly, with interest subject to withholding taxes. So, how does one get started on investing with Mali?

How To Register For Safaricom Mali

M-PESA powers the Mali investment product, so the registration is very simple.

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You can register by using either a USSD code or through a PayBill number.

Follow these steps to register for the M-PESA Mali investment product:

1. Dial *230# on your phone.
2. A pop-up menu will appear with the M-PESA terms and conditions.
3. Select option 1 to accept the Safaricom Mali terms and conditions.
4. Click next to continue.
5. You will receive an SMS from Mali.
6. Enter your M-PESA PIN.
7. Next, enter a valid email address.
8. Provide your next of kin contact.

Additionally, Mali requires you to have been a registered M-PESA user for over 3 months in order to qualify. Unfortunately, any user that has replaced their SIM  cards in the last three days also have to wait longer to be eligible to use the investment tool. If a user gets to have multiple M-PESA accounts, each line is treated separately. From a minimum of KES 100, users can also top up to a maximum of KES 70,000.

With the goal of easy access, all withdrawals from Mali, whether partial or full, are credited to your M-PESA wallet.  In case a customer wishes to withdraw beyond M-PESA limits, the payment will roll over days until the full investment pays off. All these transactions, whether deposits or withdrawals are free.