Airtel Money Kenya Launches Bizna Wallet for SMEs to Manage Finances

Introducing Bizna Wallet: Airtel Money’s Innovation for SMEs in Kenya

Airtel Money Kenya recently launched Bizna Wallet, a revolutionary digital wallet created specifically for small and medium-sized enterprises (SMEs) in Kenya.

This unique solution allows businesses to distinguish their personal funds from their company finances, a challenge frequently encountered by many entrepreneurs. Bizna Wallet was devised following extensive dialogue with these entrepreneurs.

Features of Bizna Wallet

Business owners can now easily separate their business income from their personal finances, oversee daily sales, generate mini statements, collect payments across mobile money networks, and safeguard their business payments from unauthorized reversals. This significantly improves the control of their cash flow and simplifies their management tasks.

Bizna Wallet especially targets the sizable informal business sector in Kenya. Market traders, boda boda riders, matatu operators, kiosk owners, and other micro-enterprises that heavily rely on mobile money for their daily operations stand to benefit from this product.

Fueling Digital Transformation for SMEs in Kenya

With the SME sector in Kenya progressively adopting digital payments, 95 percent of SMEs now accept mobile payments as per the Mastercard SME Confidence Index. This underscores the growing demand for financial services that assist businesses in better managing their finances. Airtel Money’s Bizna Wallet aims to meet this demand by providing a dedicated business wallet that enhances financial discipline and secures digital transactions.

Businesses can register for Bizna Wallet through Airtel Money’s *334# USSD menu and begin receiving payments while utilizing the wallet’s business management features.

Rudishiwa Rewards Program Expansion

In addition to launching Bizna Wallet, Airtel Money has enhanced its Rudishiwa rewards programme. The company now credits actual cash directly into customers’ Airtel Money cashback wallets, replacing the previous airtime rewards.

All registered Airtel Money customers making qualifying transactions worth Sh101 or more, including paybill payments, transfers to other mobile money networks, bank-to-wallet transfers, and wallet-to-bank transactions are automatically enrolled in the programme. The cashback is instantly credited to a dedicated cashback wallet accessible through both the *334# USSD platform and the My Airtel App before being transferred to the customer’s main Airtel Money wallet.

Airtel’s stand is to make digital financial services more beneficial for customers and to react to changing consumer preferences.

Strategic Investments by Airtel Kenya

Airtel Kenya continues to invest in technology, extend network coverage, and develop pioneering financial solutions that improve customer experience while supporting Kenya’s digital transformation. An example of this ongoing investment is the construction of a state-of-the-art hyperscale data centre in Tatu City, expected to be one of the largest data centres in East Africa when commissioned around July next year.

The company is also preparing to roll out Direct-to-Cell (DTC) satellite connectivity in collaboration with SpaceX, set to extend connectivity to remote and underserved parts of Kenya.

Airtel continues its expansion of network coverage across Kenya, including improving indoor connectivity in high-rise buildings, and extending coverage along major highways and rural communities.

The company is particularly focused on improving connectivity in underserved areas while preparing for the heightened adoption of 4G and 5G smartphones that will enable more Kenyans to benefit from emerging technologies, like Direct-to-Cell satellite services.