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.