Old Mutual offers mobile unit trusts
Old Mutual Kenya has unveiled a mobile phone-based unit trust product called i-Invest, via Safaricom.
The paperless trust product allows customers to register, invest and withdraw money using their mobile phones. To register, users simply dial *480# and follow the prompts.
The minimum initial investment amount is KES 4,800 after which customers can add to their investment.
Old Mutual explains that the mobile unit trust account works very much like the conventional unit trust account except that all instructions can be submitted and processed over the registered mobile phone.