One of Kenya’s top lenders, NCBA Bank, has announced plans to open 12 new branches in the country in 2022 as part of its expansion plans.
This announcement comes despite the bank shutting 14 of its branches in Kenya in 2021 due to the disruption caused by Covid-19. With its expansion, the lender targets to raise its branch count from 78 branches to 84 across Kenya.
The bank’s Managing Director, John Gachora, noted that, despite the major shift to digital banking, most customers still prefer to have a bank branch within their vicinity in case of any issues.
How Safaricom Made it Easy for M-PESA Agents to Join
The network of agents by Safaricom who help customers to register for M-PESA, deposit, and make mobile money withdrawals increased following adjustments that lowered the barrier to entry into becoming an agent.
According to an explanation by a Kenyan blog:
“First, Safaricom made adjustments on the float ratio required to apply for additional tills to 30:70.Here, it means that if 30% of the tills in a Head Office have met the required float level of KSh.20 000, the Head Office can apply for additional tills. Additionally, they increased the number of tills that an agent can apply for at a single point in time from 5 to 15.”
Safaricom has several support programs for agents:
Agents Loan Services like M-Jeki and Okoa Float
Stawisha Biashara, which is an agents Reward Scheme