M-Pesa is a mobile money service that allows you to send and receive money, pay bills, buy airtime, and access other financial services using your phone. It is widely used in Kenya, where it has over 40 million active customers and more than 200,000 agents.

But did you know that M-Pesa can also help you save money and achieve your financial goals? M-Pesa is also a great tool for saving money and taming your expenses, whether you want to build an emergency fund, save for a specific goal, or invest for the future.

In this blog post, we will show you how to use M-Pesa to save money effectively and securely. Here are some tips and tricks to get you started but first, let’s deal with the basics.

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What is M-PESA?

Here’s a little history lesson. M-PESA is a mobile money service that was launched in 2007 by Safaricom , the largest mobile network operator in Kenya. M-PESA stands for mobile money or mobile payment in Swahili. M-PESA allows you to store money in an electronic account linked to your Safaricom SIM card, and use it to make transactions with your mobile phone. You can deposit and withdraw cash from your M-PESA account at any of the over 600,000 authorized agents across the country.

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You can also send money to other M-PESA users, or to mobile money users on other networks. You can also receive money from abroad through international remittance partners. You can also pay for goods and services at merchants that accept M-PESA as a payment method. You can also access other financial services such as loans, savings, insurance, and investments through M-PESA.

How to use M-PESA to save money?

One of the benefits of using M-PESA is that it has built-in tools and features that can help you to save money easily and conveniently. There are several ways you can use M-PESA to save money, depending on your needs and preferences. Here are some of them:

Use M-Shwari

M-Shwari is a service that allows you to save money and access loans through your M-Pesa account. You can open an M-Shwari account for free by dialing *334# on your phone. You can then deposit money into your M-Shwari account from your M-Pesa account, and earn interest on your savings.

  • Here are all the ways to access M-Shwari

The interest rate is currently 6.65% per annum , compounded monthly. You can also access loans from M-Shwari based on your credit score and repayment history. The loan amount ranges from Ksh 100 to Ksh 50,000 , with a repayment period of 30 days . The loan attracts a one-time fee of 7.5% of the loan amount.

Use M-PESA Lock Savings Account

This is a service that allows you to lock away a specific amount of money for a fixed period of time, and earn interest on it. You can open an M-PESA Lock Savings Account by dialing *334# on your phone. You can then choose the amount you want to save, from Ksh 500 to Ksh 100,000 , and the duration, from one month to six months. The interest rate is currently 6% per annum, compounded monthly. You cannot withdraw your money before the maturity date, unless you pay a penalty fee of 1% of the locked amount.

Use KCB M-PESA

This is a service that allows you to save money and access loans through your M-PESA account in partnership with KCB Bank. You can open a KCB M-PESA account by dialing *334# on your phone. You can then deposit money into your KCB M-PESA account from your M-PESA account, and earn interest on your savings.

How to Save Money with M - 1

The interest rate is currently 6% per annum , compounded monthly. You can also access loans from KCB M-PESA based on your credit score and repayment history. The loan amount ranges from Ksh 50 to Ksh 1 million, with a repayment period of one month to twelve months. The loan attracts an interest rate of 1.16% per month and a negotiation fee of 2.5% of the loan amount.

Use Fuliza

This is a service that allows you to access an overdraft facility through your M-Pesa account when you have insufficient funds to complete a transaction. You can opt-in for Fuliza by dialing *234# on your phone.

You can then use Fuliza to pay for goods and services at merchants that accept Lipa Na M-Pesa (Pay with M-Pesa), or send money to other M-Pesa users when you have insufficient funds in your account. You will then repay the overdraft amount plus a daily fee of 1% of the outstanding balance within 30 days.

This interest rate is lower than what you will find anywhere else and so it is a way to save money, instill discipline instead of vandalizing your savings every time you’re in a pinch.

Set a savings goal and track your progress.

Having a clear and realistic goal can motivate you to save more and avoid unnecessary spending. You can use the M-PESA app or the MySafaricom app to set a savings goal and monitor how much you have saved so far. You can also set reminders and alerts to help you stay on track.

Join a savings group or a chama (M-PESA Chama Account)

A savings group or a chama is a group of people who pool their money together and lend it to each other at a low-interest rate. This can help you save money for a common purpose, such as starting a business, buying land, or paying school fees .

How to Save Money with M - 2

You can use M-PESA Chama Account , a service that allows you to manage your savings group using your M-Pesa account. You can create a group, invite members, collect contributions, disburse loans, and view reports using your phone.

To access M-PESA Chama, simply walk into any Safaricom shop or Safaricom Care desk countrywide and request for an application form. You can also send an SMS with the word CHAMA to 21366 or email them on [email protected] and one of their agents will get back to you..

How to use M-PESA to Track your Expenses

A key factor in any saving venture is to track and stay on top of your expenses. In this next section, we will be looking at ways you can use M-PESA to keep an eye on and stay on top of your expenditure, minimizing them to enhance your saving.

Use M-PESA to pay for goods and services.

Instead of using cash or cards, you can use M-PESA to pay for goods and services at thousands of merchants across the country. This can help you save money by avoiding transaction fees, ATM charges, and fraud risks.

You can also enjoy discounts and rewards from participating merchants. To pay with M-PESA, dial *334# and follow the prompts or scan the QR code using the M-PESA app or the MySafaricom app.

This also gives you a paper trail that you can use to track your expenses via the mini-statement that you can request for on-demand from Safaricom.

Use M-PESA Global to send and receive money internationally.

If you have relatives or friends abroad who send you money or if you need to send money overseas, you can use M-PESA Global to do so conveniently and affordably. You can send money to over 200 countries and receive money from over 50 countries using your M-PESA account.

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You can also withdraw money from any Western Union agent or ATM worldwide. To access M-PESA Global, dial *840# or 3342# and follow the prompts. This allows you multiple cash inflows and also gives you a paper trail that you can use to track your expenses.

Conclusion

These are some of the ways you can use M-PESA for saving money and improve your financial well-being. M-PESA is more than just a mobile money service; it is a tool that can help you achieve your dreams. Start saving today with M-PESA and see the difference!

I’m a tech enthusiast and digital explorer based in Kenya passionate about Android, Linux, and the world of custom ROMs. I love tinkering with devices to craft personalized, optimized experiences. When I’m not deep in code or tweaking gadgets, you’ll find me immersed in science fiction, philosophy, or writing about the ever-evolving tech landscape from an African perspective.

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Talkio Mobile , Uganda’s newest telecommunications service provider, is excited to announce a groundbreaking partnership with Banana Life Investments, a leading chain of mobile phone and retail shops. This strategic alliance aims to bring Talkio’s innovative telecom services closer to Ugandans.

This collaboration will leverage Banana Life Investments’ extensive retail network of 26 stores strategically located across Uganda in major malls, towns, and cities to provide customers with unparalleled convenience. Through this partnership, Talkio Mobile will offer its full suite of services, including SIM cards, airtime, and exclusive product offerings at any Banana Life Investment location.

This partnership is more than a business initiative—it’s a shared commitment to transforming lives. By integrating Talkio Mobile’s forward-thinking services & nationwide reach with Banana Life Investments’ retail footprint, the two brands are setting a new standard for customer convenience and inclusivity.

READ ALSO: 5 Things You Need to Know About Talkio Mobile: New Telecom Company in Uganda

“This partnership aligns perfectly with our mission of connecting Ugandans to innovative and transformative telecom solutions,” said Vianne Allan Ahura, CEO of Talkio Mobile. “By leveraging Banana Life Investments’ trusted presence and nationwide footprint, we are not only expanding our agent network but also bringing our services closer to the communities we serve. This collaboration ensures that our online customers can now enjoy a seamless offline experience right at their doorstep. Together, we are empowering Ugandans with the tools they need to stay connected, grow their businesses, and unlock new opportunities.”

Solomon Ssemuyaba, the assistant general manager at Banana Life Investments, echoed this sentiment: “We are proud to join hands with Talkio Mobile to deliver innovative, customer-centric solutions. This partnership represents our shared vision of fostering a connected future for Uganda. Together, we are redefining what convenience and accessibility mean for our customers.”

The partnership goes beyond retail distribution, introducing joint initiatives aimed at value addition and personalized service. Customers can expect seamless access to:

  • SIM Card Sales : Available at all Banana Life Investments locations.
  • Talkio phone number bookings : Book your preferred Talkio number at any Banana Life Investments location.
  • Airtime Services : Recharge easily through in-store purchases.
  • Customer Support : Friendly and knowledgeable staff trained to assist with Talkio Mobile products and services.

Additionally, the two companies plan to launch promotional campaigns and expand services to even more locations, ensuring no Ugandan is left behind in the digital transformation.

Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]

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The Mobile World Congress (MWC) Barcelona , the world’s largest exhibition for the mobile industry, has just concluded. This annual event gathers leading technology brands to unveil groundbreaking mobile, AI, and digital solutions innovations. At MWC 2025, TECNO showcased a range of AI-driven products, reinforcing its commitment to cutting-edge technology.

The key launches included:

  • CAMON 40 Series – AI-powered smartphones with One-Tap FlashSnap and advanced mobile imaging features.
  • MEGABOOK S14 – The world’s lightest 14-inch OLED laptop, featuring AI-enhanced multitasking and Snapdragon® X Elite.
  • MEGABOOK T14 Air & K15S – Lightweight ultrabooks with AI capabilities and extended battery life.
  • TECNO AI Glasses Series – Smart eyewear integrating AI imaging, translation, and AR display.

Jan Stryjak, Associate Director at Counterpoint Research, shared, “In the past year, we have observed significant advancements in the field of AI. AI will continue to drive transformative changes in our daily lives. In this critical period for the economic development of emerging markets, TECNO’s AI technologies are unlocking potential for diverse needs.”

“The application of AI technologies is crucial and urgent in emerging markets. We’re committed to bridging the digital gap between emerging and mature markets,” said TECNO CMO, Laury Bai. “TECNO is taking a practical approach to make AI more accessible, ensuring users in emerging markets can access AI and cutting-edge technologies.”

Laury Bai, TECNO CMO

Driven by its commitment, TECNO has forged a robust partnership with MediaTek, establishing a joint AI laboratory dedicated to accelerating advancements in AI. At the event, James Chen, Vice President of Product and Technology Marketing at MediaTek, emphasized, “The synergistic R&D efforts between TECNO and MediaTek are set to democratize AI technology. Our collaboration powers a seamless, interconnected AI experience, bringing users a future of truly connected intelligence.”

James Chen, Vice President, Product and Technology Marketing at MediaTek

CAMON 40 Series Powered by AI One-Tap FlashSnap Revolutionizes Smartphone Snapshot Photography

TECNO’s Global Product Launch Officer, Olivier Mas, officially unveiled TECNO’s next-generation AI-driven products. Attendees at TECNO’s launch event witnessed the highly anticipated debut of TECNO’s new CAMON 40 Series, a device that embodies TECNO’s legacy of excellence in mobile imaging. Featuring One-Tap FlashSnap Mode and TECNO AI, the series sets a new benchmark in smartphone photography, delivering exceptional snapshot capabilities and AI-enhanced user experiences.

Olivier Mas, TECNO Global Product Launch Officer

The CAMON 40 Series exemplifies a commitment to innovation that transcends hardware and software, extending into strategic partnerships that deliver cutting-edge AI solutions to emerging markets. Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud, remarked, “Our collaboration with TECNO on the CAMON 40 Series is a standout example. Leveraging Google Cloud’s capabilities, we’ve introduced groundbreaking features such as Ask Ella, AI Image Generator, AI Writing, and AI Translate. I am particularly impressed by the industry-leading and competitive edge of some of these innovations. For instance, TECNO’s AI supports text translation in 136 languages, voice translation in 44 languages, and photo translation in 51 languages. We are excited to further strengthen our partnership with TECNO, unlocking limitless potential to bring advanced yet practical AI capabilities to emerging markets in a convenient and secure manner.”

Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud

The CAMON 40 Series’ innovative One-Tap FlashSnap leverages AI to enhance imaging capabilities, revolutionizing mobile photography. AI optimizes camera startup and continuous shooting for instant captures, while AI-powered multi-frame processing intelligently reduces noise and enhances details, delivering sharper, more refined images. Additionally, the BestMoment algorithm analyzes motion patterns, automatically selecting the optimal frames for precise, high-quality shots in dynamic scenarios, ensuring users an unparalleled mobile imaging experience.

TECNO CAMON 40 Demonstrates the Cutting-Edge FlashSnap Capability

To delve deeper into the imaging prowess of the CAMON 40 Series, TECNO invited Frédéric Guichard, CEO of DXOMARK, to share the image performance of CAMON 40 Pro. Frédéric highlighted, “The CAMON 40 Pro 5G has demonstrated exceptional imaging and performance capabilities in our rigorous evaluations. We’ve been particularly impressed with photo performance being the best for devices under 600$, and the 1st eligible device to our Smart Choice Label.”

Onsite photo of Frédéric Guichard, CEO of DXOMARK

Beyond its advanced rapid-capture functionality, the integration of TECNO AI further enhances the device’s capabilities. Intelligent imaging, a 360° AI Call Assistant, and productivity tools elevate creativity and efficiency. Powered by MediaTek’s latest chipsets, the series ensures smooth performance, fast processing, and extended battery life. With a sleek, durable, and water-resistant design, it seamlessly blends style with practicality for modern users.

MEGABOOK S14, the World’s Lightest 14-inch OLED Laptop, Inspires Creators and Game Lovers

The MEGABOOK S14 is TECNO’s first OLED laptop and the industry’s lightest 14-inch OLED laptop, featuring a 2.8K OLED display and incredibly weighing only 899g (31.7oz). The laptop is equipped with the outstanding power of the Snapdragon® X Elite compute platform, the flagship chipset for AI PCs from Qualcomm Technologies, and integrates TECNO’s world’s first self-developed edge-side large-scale AI model, to achieve AI-enhanced multitasking.

World’s Lightest 14-inch Laptop MEGABOOK S14

Specifically designed for next-gen AI productivity, TECNO AI enhances the Ella AI Assistant, AI-powered PPT generation, AI-driven image search, smart albums, and offline meeting transcription with multilingual support. The External Graphics Dock, equipped with a powerful NVIDIA graphic card, delivers scalable, high-performance capabilities for design, gaming, and content creation. The laptop’s 2.8K OLED display with a 120Hz refresh rate ensures exceptional visuals, while DTS:X Ultra dual 2W speakers, Wi-Fi 6E, fingerprint login, and PC Manager optimize connectivity and user experience.

TECNO’s strategic partnership with Qualcomm Technologies was a highlight of the TECNO AI Ecosystem Product Launch event, demonstrating a shared vision for the future of AI PCs. Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm, took the stage to discuss the integration of Qualcomm’s cutting-edge PC chipset into the new MEGABOOK S14 laptop, underscoring TECNO’s commitment to delivering high-performance computing solutions.

Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm

In addition, TECNO also introduced several standout new products. The featherlight 999g (35.2oz) ultrabook MEGABOOK T14 Air, features high-speed storage and LPDDR5 memory, while the ultra-thin, all-metal MEGABOOK K15S, equipped with a powerful 70Wh battery and supported by a 65W PD GaN charger, offers a smarter and more long-lasting user experience. Both devices are empowered by TECNO AI with advanced AI capabilities such as AI Album and AI Voice Assistant, making them perfect companions for all aspects of life.

The Next Game-Changing Tech Innovation: See the World with the TECNO AI Glasses Series

TECNO’s new AI Glasses Series also took center stage with the introduction of TECNO AI Glasses Pro and TECNO AI Glasses, reimagining eyewear with cutting-edge imaging, intelligent interactions, and a sleek aesthetic. The TECNO AI Glasses feature an aviator design, while the Pro model showcases a browline style, both embodying timeless elegance and modern fashion.

TECNO AI Glasses Redefine the Way People See the Future

Equipped with a 50MP high-definition camera, the series integrates an OV50D sensor, a 100° ultra-wide-angle custom lens, and an AI ISP imaging chip, forming a mobile-grade imaging system. This system lets users capture stunning, high-resolution photos with advanced AI noise reduction and HDR capabilities. With real-time translation supporting over 100 languages, TECNO AI’s Ella empowers accurate translation even for less common languages, as well as voice control, AI-powered object recognition, and intelligent information summaries for ultimate convenience.

Additionally, the AI Glasses Pro features a MicroLED display with 7th-gen resin waveguide technology, offering a 30° field of view, over 1,500 nits of brightness AR display, and a lightweight, ultra-thin design. The AR display allows users to effortlessly enjoy features like translation display, navigation, information prompts, and teleprompting.

Equipped with a 250mAh battery, these glasses offer over 11 hours of music playback and 8 hours of mixed use with just 30 minutes of charging. An advanced ultra-linear speaker, bass enhancement, and spatial sound deliver an immersive audio experience, while Wi-Fi 6 and Bluetooth 5.4 ensure seamless connectivity.

With these innovative launches, TECNO is setting new standards in mobile imaging and AI-enhanced technology, shaping a more connected and empowered future for consumers in emerging markets. Once again, TECNO has showcased its cutting-edge innovation on the global stage at MWC. With the brand essence of “Stop at Nothing”, TECNO’s relentless pursuit of innovation is making AI-powered technology more accessible, allowing consumers to experience the future ahead of time.

Solomon Obwot is a tech writer based in Kampala, Uganda, with extensive experience in the local tech startup ecosystem. He covers the latest news and analysis on consumer tech, writes in-depth smartphone reviews, and conducts insightful interviews with industry experts. Solomon is also a passionate podcaster, sharing his knowledge and engaging in discussions about Africa’s rapidly growing tech landscape. Send emails to [email protected]

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