Build a secure financial future with Mixx By Yas Group Savings service
Transform the way your financial group saves, invests, and grows together with Kikoba—a cutting-edge digital savings platform designed for groups like Family/Friends, VICOBA, VSLA, and SACOSS. Kikoba empowers your group to contribute money, save securely, buy shares, issue loans with agreed interest rates, and share dividends at the end of your financial year, all in one seamless, transparent platform. Say goodbye to manual record-keeping and embrace real-time tracking of contributions, loans, and automated dividend distribution. Join the many groups already thriving with Kikoba and elevate your group’s financial management to the next level.
This is a special account for small groups, it could be family or friends who intend to contribute money and later share it over time.
This is a special account for groups with a wide range of members and with a system for selling and buying shares, savings, Social Contributions and Loans. These groups include VICOBA / Village Saving and Loans Associations (VSLA) / Community Banks (CB) / Savings and Investment Community (SILC)
Kikoba is a financial service run by Mixx by Yas in partnership with TCB Bank that allows you to run savings accounts for groups of friends / family or VICOBA. This product will focus on providing enabling environment for small micro-based groups to operate in real-time to ensure cost effective, security and transparency among members and a group in general. This service will be available through Mixx by Yas USSD menu. Customers will dial *150*01# then click Financial Services then select Savings then select KIKOBA
KIKOBA consists of two Accounts which are;
i. Friends/ Family:
This is a special account for small groups, it could be family or friends who intend to contribute money and later share it over time.
FRIENDS/FAMILY MENU: Group 1> 1. Contribute> 2. Balance > 3. Requests > 4. Members> 5. Transfer> 6. Verify> 7. Approve funds> 8. Regulation
ii. VICOBA / VSLA:
This is a special account for groups with a wide range of members and with a system for selling and buying shares, savings, Social Contributions and Loans. These groups include VICOBA / Village Saving and Loans Associations (VSLA) / Community Banks (CB) / Savings and Investment Community (SILC)
VICOBA MENU: Group 1> 1. Buy Shares> 2. Return Loan> 3. Community> 4. Penalty> 5. Balance> 6. Transfer / Verify / Approve Money> 7. Membership/Regulation > 8. Request
This service can be access by Yas customers via Mixx by Yas USSD menu *150*01# and other MNO’s can access it via *150*21#
No fee will be charged for withdrawing money from their Mixx by Yas account to a group account or withdrawing money from a group account to a group member.
There are no any fees incurred by the customer sending money from his/her Mixx by Yas wallet to KIKOBA group saving account or from group account to group members wallet.
Each group in KIKOBA must have three leaders who are:
Yes, group members from other network can Join Kikoba as well and conduct their basic activities of the group like share purchase, Loan repayment, Punishment payment among others via *150*21#. However, for them to access leadership functionalist they should join with a Yas number. Since all leaders must be Yas customers.
In the event of a dispute with the group members due to a disagreement over the group’s finances the group members will be required to report to the police where they will be given a special permit from the police and submit to Mixx to prevent the group’s funds from flowing. Upon receipt of Police clearance Mixx funds and group members will be required to reconsider their police differences and obtain another permit to allow Mixx to open their group funds.
In the group account there will be no limit to receiving transactions, but in the case of a group member he will be allowed to receive or make transactions according to his or her (Tier) Mixx by Yas transaction limits.
The KIKOBA group must have at least five members. To create an KIKOBA account Each group should have three leaders i.e Chairman, Secretary and Treasurer. Group Leaders or signatories must be Yas network customers and Mixx by Yas Registered.
When the Customer opens or joins the KIKOBA Account Customer information will be sent from Mixx by Yas to TCB bank. This information is Client Name, Telephone Number, Gender and Age of Client and all others that will support to open and process the request, Thus before opening or joining an KIKOBA Account the customer will be required to accept the Terms and Conditions.
Funds will be transferred through three phases in the Kikoba menu.
a. The secretary shall initiate the process of payment from the group account to the member
b. The treasurer shall review the payment, and the chairman of the group shall approve the payment then the funds will be transferred from the group account to the intended member
c. In addition to these three leaders, group members can change the approval system to involve members to participate to allow this payment can be changed through the group menu > group rules by selecting >a type of approval > leaders and members will then vote by choosing 2/8.request to accept this new approval system.
Customers will be able to contact Yas Customer care for any complaints, this include calling 100 or channel their query through our social media pages.
