in ,

Was Your Money Withdrawn ? : Safaricom To Handover A Total of 500 Million Which Is Unclaimed On MPESA Deposits

Safaricom is set to hand over Ksh500 million to the Unclaimed Financial Assets Authority (UFAA). The money is from idle deposits in its popular mobile money platform M-Pesa held in phone lines that have been inactive for more than two years, BUSINESS DAILY reports.
MPesa-mobile-banking post

“M-Pesa deposits are about Sh500 million but we are still computing airtime balances and uncollected share dividends,” said Safaricom chief executive Bob Collymore. The list of contributors to Safaricom’s unclaimed assets cash pile includes money left in lost phone lines that have not been replaced and those belonging to people who have left the country.

Safaricom is handing over the money in compliance with the unclaimed assets law which requires companies, banks and utility agencies to surrender any assets that have been lying idle in their possession for periods defined by the law.


Discover more from ULIZA LINKS NEWS

Subscribe to get the latest posts sent to your email.

Written by Link Press

Uliza Links Team
Email :info@ulizalinks.co.ke
Phone : 0727041162
CPT HSE, Forest Road, Parklands

Kelele With The Money : Moji of Kelele Takatifu Hangs Out With Jalang’o , Did He Get Some Money ?

What’s The Plan Eunice ? : Eunice Njeri Dons A Stylish And Modish White Dress [PHOTO]