Paying investor dividends by mobile phone - Part II
On Saturday I got my dividend payment from small investment in shares of Safaricom which is Kenya’s’ leading mobile phone company.
As expected this dividend payment was by mobile phone transfer using safaricom's M-pesa (actualy Vodafone - UK). Notification was in two parts, first a few days ago that the registration was successful, and then on Saturday that my M-pesa account had been topped up by about 650 shillings (~$8.50) and I could draw down the funds.
This dividend payment transfer is the first of its kind in Kenya, and maybe a world first too from Safaricom. It can be emulated for other bulk payment remittances e.g. other companies that have over 20,000 shareholders to pay dividends, tea bonus to farmers, repayment of micro-loans.
5 comments:
I think this is excellent and hopefully the future of small payments. Does Mpesa allow merchants to collect subscriptions?
Why bother calling yourself a shareholder if all your going to get is a mere $8 dollars?
Aren't you better off saving your money & putting into building a business, then once you have enough cash, start thinking of buying shares?
Without leverage, you simply won't get rich buying shares. You either use leverage or you have huge sums of cash available to you.
Greetings Banks,
A piece in the dailies has sent shivers down my spine.... what is your take on this: http://www.standardmedia.co.ke/InsidePage.php?id=1144028691&cid=14&j=&m=&d=
Cheers.
Wilfredw: I need to check merchant limits for m-pesa. Individuals can’t transact more than 70,000 per day (~$1,000)
Montel: more to come from old mutual
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