Are you planning to indulge in the Safaricom business? Here is a simples business guide with details on how to start an MPesa business in Nairobi.
The MPesa business is quite booming, as more and more people are turning to online payments.
Starting any business in Nairobi can be quite hectic, but it is quite possible and easy with a few tips.
How Much Money Do I Need To Start Mpesa Business In Nairobi?
For one to be able to start a Mpesa business, then one needs at least 100,000 Kenya shillings Mpesa investment.
Once you have this capital, then you can apply and wait for your application to be approved.
Types of Mpesa Agent Outlets
There are two ways of running a Safaricom Mpesa outlet, including MPesa Sub-dealer and Mpesa Standard outlet.
1. Mpesa Sub-dealer
For this Mpesa agent, it is more profitable compared to registering as an agent.
As the name Mpesa Agent suggests, you will have to under someone, for instance, a licensed agent, by buying and using their lines and in return paying them some commission.
For one to be a sub-dealer, you need around 20,000 Kenyan shillings to 40,000 Kenyan shillings.
2. Mpesa Standard outlet
The standard Mpesa agent is the one that is most vouched for.
This allows you to keep the entire share of your commissions, unlike the sub-dealer one.
What Are The Requirements To Be An Mpesa Agent In Nairobi?
Below are the things you need before starting a Mpesa business in Nairobi:
1. A minimum of 100,000 Kenya shillings should be maintained per store.
2. Have a company or limited company able to operate more than three stores with the same name.
3. The limited company should be registered on the eCitizen platform.
4. The shops or agents should be located in two different counties.
5. The company should have existed for at least six months.
6. One must acquire all the necessary business permits.
The permits include Identity cards, banking licenses, police clearance certificates, tax compliance certificates, and a business permit for each store.
Tips For Starting A Mpesa Business In Nairobi
1. Look for a suitable location with potential customers. The more traffic, the more the profits.
2. Learn the strengths and weaknesses of starting a Mpesa business.
3. Have a business plan that will help your business grow.
Is Mpesa Business In Nairobi Profitable?
Even though it is a small business, the business is quite profitable, and one can earn a good amount of cash daily.
Depending on where you are situated, one can make as much as 50,000 Kenyan shillings in a month.
This is why you should look for a place with a lot of people near town centers or malls.
Here, is where we leave you on the way to how to start a Mpesa business in Nairobi.
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