24 Year old Leonard Kiplangat, a 4th year student at Moi University, has emerged as the KShs. 5 million winner in the Stawisha Na M-Shwari promotion. Mr. Kiplangat, a B.Sc. Education student becomes the youngest winner in the promotion, which concluded today.
As a frequent M-Shwari user, Mr. Kiplangat has expressed his preference for the platform due to its affordable borrowing rates, and the ease and convenience of being able to borrow and repay from the comfort of his phone.
“The fact that Mr. Kiplangat is able to access financial services via his mobile phone captures the essence of what we aimed to do with the launch of M-Shwari when it started four years ago, which was to expand access to basic financial services. Our rich partnership with CBA continues to deepen financial inclusion in ways never imagined before,” said Bob Collymore, CEO, Safaricom.
Mr. Kiplangat plans to donate some of his winnings to charity, with the rest going to investments and funding for his education.
The promotion has resulted in a 32% increase in M-Shwari savings over the last 6 weeks, with total deposits now at KShs. 10.3 billion. At the same time, registered M-Shwari users have grown to 14.8 million, a move that cements M-Shwari’s position as Kenya’s most widely used loans and savings product.
CBA has also reported growth that M-Shwari has achieved being an integral part of lives of millions of Kenyans the lives of millions of Kenyans by helping them in their daily financial management.
“We celebrate these successes with our customers through Stawisha Na M-Shwari, which over the last 6 weeks has awarded over 4, 000 customers with over Ksh.70M in cash prizes,” said Jeremy Ngunze, CEO, Commercial Bank of Africa (Kenya).
Stawisha Na M-Shwari has seen 4,406 winners take home Kshs. 76. 9 million, with 6 M-Shwari users emerging lucky winners of KShs. 1 million each.