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How to withdraw cash from your MPESA account through a KCB ATM

Tuvuti Editorial Team
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How to withdraw cash from your MPESA account through a KCB ATM

There are many ways that MPESA users can withdraw their cash across the country, one of these many ways is getting their cash through an automated teller machine (ATM). Using an ATM machine has its own advantages, including a 24hr operation as well as a reliable network across the country. Additionally, you don’t have to be a KCB customer to access this feature, just initiate the transaction on your phone and you’ll have your cash in no time.

We recently wrote about how you can withdraw from a coop bank atm; the process is more or less similar, with a few tweaks here and there. Withdrawing cash from an ATM machine operates the same way as you usually withdraw from an MPESA agent. The main difference is that you’ll need to make some choices on the ATM machine to confirm the transaction.

How to withdraw money from MPESA using a KCB bank ATM machine

  • On your MPESA menu, choose Withdraw Cash
  • Proceed to select ATM
  • Then enter KCB agent number: 555555
  • Confirm with your MPESA PIN
  • You should receive a text message bearing a six-digit code that will act as a password

On the ATM machine

  • Proceed to choose MPESA withdrawal on the ATM
  • Enter details as prompted using the six digits as password
  • Note: the password will expire within 10 minutes, therefore initiate this process only when close to the ATM machine.

Kenya Power set to rollout electric vehicle charging points across the country to boost revenues

Tuvuti Editorial Team
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Kenya Power set to rollout electric vehicle charging points across the country to boost revenues

Kenya’s sole electricity supplier – Kenya Power is set to setup charging points for electric vehicles across the country. The move comes amidst diminishing revenues in power distribution as more firms shift to greener energies and homes install solar panels instead of applying to be connected to KPLC’s grid. We recently highlighted new efforts from the power distributor to tap into the growing shift to solar panels by exploring options to install panels in homes as well as on industrial buildings.

According to the parastatal’s managing director Benard Ngugi, the company is looking to install electric car charging stations across the country, a move that’s expected to ease one of the limitations faced by Kenyan’s when deciding on importing an electric car. It will also present the power distribute with an opportunity to tap into what has been perceived as the future of the motor industry.

For along time, Kenyans have relied on vehicles powered with petrol and diesel, but the trend is changing, especially here in Nairobi, where we can now spot an electric car more often. Taxi companies such as Nopiaride utilizes the Nissan Leaf cars which run purely on batteries instead of fuel. Many Kenyans are also now important hybrid cars that can operate both on fossil fuel as well as batteries such as the Honda Insight, Toyota Prius and even some models of Honda Fit.

According to industry analysts, high prices of electric vehicles have also played a role in successful rollout but do acknowledge that favorable government policies seem to be changing that. Kenya has sort to reduce taxes on fully electric vehicles as away of boosting adoption within the country.

Speaking on the development, Kenya Power’s managing director said the firm was coming up with necessary infrastructure while building internal capacity to allow them support owners of electric vehicles across the country. Ngugi further said the parastatal was determined to build charging facilities across the country starting in Nairobi where there’s already a network of several electric vehicles in operation. These stations will be placed along highways, parking lots as well as in shopping malls.

Until recently, we only knew of KenGen which outlined plans to setup electric car charging systems in the country. If these ambitions are met, both Kenya Power and KenGen will be set to benefit from revenues generated from these points hoping that this technology picks up quickly than later. Most of the developed world is shifting away from fossil fuel as they look to stem carbon emissions with greener energy.

Electric car companies such as Tesla have also gained recognition in recent past and even went further to setting up charging stations in countries that they are present. In Africa, insufficient infrastructure coupled with high prices have negatively affected adoption. The average price of an electric car is Sh6 million, which compares to a second-hand SUV imported into Kenya.

Things are however changing with favorable government policies such as a reduction in excise duty on the cars from 20 per cent to 10 per cent.

AAR Insurance mobile App is set to eliminate physical interactions with company staff

Tuvuti Editorial Team
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AAR Insurance mobile App is set to eliminate physical interactions with company staff

If there’s one element we’ve all learned from the current pandemic is just how useful technology can be in managing some of the worst outbreaks out there. Building on the current trend of digital service delivery, AAR insurance is all set to eradicate most forms of physical interactions with the insurer’s staff by agents, customers as well as service providers with an all-new mobile app.

The app is equipped with several functionalities such as self-service where customers can access a number of services on their mobile phones as well as allowing service providers and agents to make transactions thereby voiding the need for physical interactions with the company staff. The app is currently available for download for both android devices as well as iOS devices on their respective app stores.

Through the AAR mobile application, customers can view information regarding their medical insurance cover plus benefits in addition to allowing them identify authorized health providers. Additionally, customers can file paperless claims, access their MTIBA accounts and also purchase additional products from the company.

According to AAR, at least 80 percent of total transactions will be moved to its mobile and online platforms, a step that’s aimed at promoting efficacy as well as transforming the customer experience. Following the current pandemic, Kenya’s government issued several guidelines including social distancing that emphasized on citizens making only those trips that are very important as a way to eradicate the virus. As a result, most firms in the country moved their operations online including use of mobile apps and USSD codes.

How to download AAR Insurance mobile app

  • Head over to your respective app store (Play Store for android and App Store for iOS)
  • Then search for AAR Insurance
  • Download the app and access various services

According to AAR Insurance managing Director Nixon Shigoli, the company is determined on creating value for its customers by adopting digital-led business model. Nixon further said the company’s DNA was in offering customers things that matter most by letting them take control such as their health. Shigoli noted that the company was determined to offer branchless and paperless services as way of creating a lean and efficient business model.

According to latest statistics in the insurance sector, adoption of widespread digital insurance was the key to increasing underwriting coverage in the country. While there is almost 98 percent of mobile penetration for example in the country, only 3 percent of the population has an insurance cover.

Safaricom teams up with HELB to unveil Smart Mobile Payment solution for students

Tuvuti Editorial Team
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Safaricom teams up with HELB to unveil Smart Mobile Payment solution for students

Students in higher learning institutions will now be able to receive their HELB loan disbursements on MPESA, this is after Safaricom teamed up with the student loans body to launch Smart Mobile Payment Solution. The facility is set to allow students receive their bursary and HELB allocations in a special MPESA wallet that can only be paid to specific Paybill numbers as a way of avoiding misuse.

The new service is definitely going to impact how students receive their allocations and how they ultimately spend the amount. According to Safaricom, Smart Mobile Payment solution for HELB loan allocations is going to encourage responsible spending with funds limited to certain items such as tuition or library fees. Additionally, the amount awarded as loan can only be utilized on specific accounts for which the student applied for a loan, such as University or TVET institution. The amount set aside for upkeep can be transferred to the student’s MPESA account for everyday use.

Speaking on the new service, Safaricom’s Chief Financial Officer Sitoyo Lopokoiyit acknowledged how technology has revolutionized almost every aspect of our lives including availing opportunities that enhance efficiency. Stoyo continued saying the telco was pleased to support Higher Education Loans Board (HELB) in deploying a service that meets the digital lifestyle of students in tertiary institutions.

How students can access Smart Mobile Payment Solution

Learners can access the facility through HELB USSD code: *642# as well as on the mobile app. This will enable them view current balances, allocations, statements as well as make necessary payments. HELB is tasked with allocating loans to needy students across the country every year. Its estimated that close to Ksh 15 billion is allocated to more than 200,000 needy students every year. Under the arrangement, the allocation is usually channeled direct to the learning institutions except for some amount set aside for upkeep.

The new service comes with several benefits including avoiding queues the are frequent during registrations, since learners can pay through their mobile phones. Additionally, there will be effective management and monitoring of all loans throughout the loan lifecycle. While speaking on the launch, HELB chief executive officer Charles Ringera said the launch of the smart solution represented a major milestone in the body’s digitization efforts. He further said the solution enhances efficiency in its operations. Ringera concluded by noting the service will enable students to make transactions within the ecosystem, and suits most students who are now regarded to be digital natives.

Government plans to digitize pension claims to expedite payments within a month

Tuvuti Editorial Team
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Government plans to digitize pension claims to expedite payments within a month

One of the most dreaded moments as a retiree here in Kenya is following up on your pension dues from the government. The process is tedious and there’s just too much paperwork to do for someone looking to have some piece of mind at home. Well, if the government goes ahead with current plans, this process will soon be pleasant and won’t need numerous visits to various government offices for clearance.

According to revelations we have at hand, the treasury is looking for a system that would automate the entire process and ensure that retired civil servants receive their dues within a month. The current process of handling claims at one of the most important government agencies is mostly reliant on hardcopies from other agencies that can be voluminous and tiresome for retirees.

I remember a few years back when I had to assist my dad in making submissions for his pension, there were just too many government departments to visit such as KRA for a clearance form and the treasury in just following up whether his files had been moved to the correct departments for processing. The process is so tedious that most retirees are forced to bribe officials at the treasury, so their claims could be processed on time.  

The treasury is now in search of a consultant that would develop, supply, install, and commission an online pension management information system, aimed at eliminating the need for pensioners and their family members to make physical visits to various offices to apply and follow up on pension payments.

At the moment, the treasury is said to be processing claims from about 300,000 retirees with an estimated average figure of about 20,000 claims lodged every year. To facilitate the new system, the agency has set aside about Ksh 119.19 billion towards retirees, an increase from initial Ksh 27.71 billion allocation done seven years earlier.

Earlier this year, the government unveiled the public Service Superannuation Scheme (PSSS) where all civil servants make monthly contributions for their pension, with the main reason being to control the huge pension bill. In the new system, excess of 530,000 civil servants, including police and teachers, contribute two percent from their salaries for their pension contribution.

How to withdraw cash from your MPESA account through a Coop bank ATM

Tuvuti Editorial Team
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How to withdraw cash from your MPESA account through a Coop bank ATM

The convenience that MPESA offers is unrivaled in many aspects, you can withdraw your cash from various services including a bank’s Automated Teller Machines (ATM). Today, I’m going to illustrate just how you can withdraw cash from your MPESA wallet from ATM machines of cooperative bank. It’s one of the largest banks here in Kenya with numerous ATM locations.

There are various reasons why someone would choose to withdraw from an ATM machine rather than going to an MPESA agent. It could be that there’s no MPESA agent around the area, or it’s at night when most of them close for security reasons. In some rare cases, some MPESA agents don’t accept transactions without official identification documents such as an ID card, in such instance, someone would be comfortable using ATM instead. Additionally, not all MPESA agents have enough cash to make a withdrawal, at least with an ATM machine you can withdraw several thousand without any issues.

How to withdraw money from MPESA at a Cooperative bank ATM

  • On your MPESA menu, select Withdraw Cash
  • Then choose ATM
  • And enter Coop Bank MPESA agent number 472472
  • Put your MPESA PIN to complete the transaction
  • You should receive a six-digit code on your phone that expires in 4 minutes to proceed with withdrawal

What to do on the ATM Machine

  • Press the button next to MPESA WITHDRAWAL on the ATM machine
  • Enter your MPESA mobile number
  • Put the amount to withdraw
  • Followed by the six digit you received on the previous process
  • You should receive cash immediately

Simba Corp unveils locally assembled Proton Saga saloon car with 5-year 150,000km warranty

Tuvuti Editorial Team
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Simba Corp unveils locally assembled Proton Saga saloon car with 5-year 150,000km warranty

Kenyans looking to own a car have for the longest time depended on used cars imported from abroad, this has been due to their affordability to most consumers in the country. But the trends seem to change a little bit with government subsidies to make locally assembled vehicles more competitive to imported used cars. Today, Simba Corp – one of the largest car dealers in the country with several brands under its umbrella has unveiled a locally assembled Proton Saga saloon car, packaging it with a 5-year or 150,00km warranty

According to Simba Corp’s CEO Dinesh Kotecha, Proton Saga is expected to offer a competitive alternative to Kenyans, which according to the CEO is what most Kenyans have been looking for. The saloon car is assembled in Kenya’s coastal town of Mombasa at the Vehicle Assemblers plant and comes with a 5-year, 150,000km warranty.

And in order to be just as competitive as imported used cars, the firm had inked deals with major banks to ease the burden of acquiring this model with zero mileage. Additionally, the locally assembled Proton Saga is rated with 4-stars from the NCAP safety and owners can have them serviced at more than 50 locations across the country.

According to Simba Corp executive Chairman Adil Popat, the company took a challenge from a majority of Kenyan’s need to own a car without spending every dime they had. Adil added that the Proton Saga launch indicated a warm relationship between the government and the private sector. He proceeded to add the launch will enable various industry stakeholders to deliver solutions that have impacts felt by Kenyans from all classes.  

The Kenyan government through the ministry of Industrialization said the launch indicated a growth and development in the Kenya’s manufacturing sector to achieve vision 2030. The government further elaborated measures put in place to promote locally assembled vehicles through skills development and transfer for the youth.

The Chairman of Kenya’s Auto Bazaar Association acknowledged that most Kenyans do not import because they love used cars, instead its because of demand. He further emphasized that they’ve been looking for cars that are both fuel efficient with zero mileage, and that’s what the Proton Saga had come to address.

New law seeking to regulate mobile loan rates on the way to be approved by MPs

Tuvuti Editorial Team
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New law seeking to regulate mobile loan rates on the way to be approved by MPs

Kenyan parliament has finally given a nod to a bill seeking to put several digital lenders under the watch of the central bank of Kenya. The new law is seeking to tame what MPs call predatory lending by having the CBK regulate loan rates as well as on how defaulters are treated. During last Thursday’s session, members of parliament allowed the bill for review and possibly passed into law, effectively opening the path for the central bank to have a say on how digital mobile lenders calculate their interests.

As of this writing, the Central Bank of Kenya Amendment bill of 2020 has now been forwarded to the National Assembly Committee on Finance and National Planning proving room for Kenyans as well as concerned stakeholders to air their views before its handed over to the house for debate and possible vote.

While the central bank of Kenya regulates financial institutions such as banks and micro-lenders, digital lenders have thus far escaped its influence and have run wild, some offering some ludicrous interest rates to Kenyan. On the other hand, they’ve appealed to more Kenyans looking for short term loans without security, only for them to end up hooked on their platforms for ever due to exorbitant interest rates.

By passing the new bill, hundreds of digital lenders will now be under the watchful eye of the financial regulator, especially in determining interest as well as how defaulters are treated.  

According to the nominated member of parliament, Gideon Keter, if the bill is passed, then these objectives will have been met; prohibit any person, institution or firm from lending money to Kenyans unless licensed by the Central Bank of Kenya.

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