Safaricom has introduced expiry date for Bonga points

Effective January 1, 2023, all Bonga points older than three years will expire and will be unavailable for redemption.

Safaricom has introduced expiry date for Bonga points
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Safaricom has introduced an expiry date on its loyalty programme, famously known as Bonga Points, in a bid to encourage redemption and unlock the underlying revenue that totalled to Sh4.5 billion as of March this year.

According to the telecommunication company, all unredeemed Bonga points will now be expiring after three years.

“The accumulated Bonga points will be expiring after three years. We have noticed that they are usually dormant hence becoming a liability to us if unclaimed,” announced the telco in a statement.

Safaricom termed the move to put an expiry date on the loyalty points as a business decision aimed at encouraging redemption.

This will encourage redemption and unlock the underlying revenue that totaled to Sh4.5 billion as of March.

The value of outstanding or unredeemed points has been going up over the years accumulating to Sh4.5 billion in March 2022. This is a drastic rise from Sh3 billion in 2015.

The rise is in spite of  the company’s effort to encourage redemption by expanding the options for redemption to include the purchase of shares at the Nairobi Securities Exchange (NSE), air time, phones and even plane tickets.

The outstanding value of the unclaimed points has doubled over the last seven years, from Sh2.2 billion in 2015 to Sh4.5 billion this year.

The Bong points are earned as a result of airtime top-ups by subscribers. A subscriber ears one Bonga point for every Sh10 spent on the Safaricom network on voice, mobile data and SMS, and for every Sh100 spent on the network for M-Pesa transactions.

Business customers also earn loyalty points when they achieve their sales targets and redeem the points at the completion of revenue contracts with Safaricom.

The Bonga points can be converted to free airtime, free internet, and paying bills.