A Kenyan social media user has revealed she saved KSh 1 million on the savings platform M-Shwari.
The user on Facebook using the name Mtoto wa Yesu was posting on the popular Facebook group 52-week Savings Challenge Kenya.
“Finally I’ve met my target of 1000000 in a span of months, Ni discipline Na kujituma,” she posted.
The user also asked Kenyans for advice on the safety of her money.
“But now hebu mniambia Kaa Ni safe ziendelee kukaa hapo ama Safaricom watachukua cause I’ve read mpesa cases za pesa kupotea, actually I am using M-Shwari lock account but siku sure nao,” she asked.
The lady’s revelation left many awe-struck and asked her how she managed to save money in these hard economic times.
Can you share what you do a for a living? – Mercy Njagi asked.
Hizi pesa mnatoa wapi??? mtu pee siri – Min Prince wondered.
How much were you saving per month? – Lucy Njoki inquired.
Ni kama wengine ni tourists Kwa hii nchi – Kemmylee Ruth joked.
Other Kenyans also shared advice on her she could invest their savings with the majority suggesting a Money Market Fund (MMF) and SACCOs.
“If I had such would set aside my emergency funds for 6 months to invest in money market funds. Then the rest I spread to business, Sacco and index funds.
Don’t put all your eggs in one basket please,” Ireri Ngai advised.
According to Safaricom, the lock savings account allows M-Shwari customers to save for a defined purpose and for a specified amount of time.
The funds saved on the M-Shwari Lock savings account will be kept in the account until the maturity date; this maturity date is determined by the customer upon opening the account and ranges between one and twelve months.
