Beneficial Owners’ Information Update

Published: September 6, 2024 at 10:22 AM | Last Updated: January 6, 2026 at 11:10 AM

Safaricom is committed to upholding regulatory requirements, maintaining industry best practices, and aligning with global standards in all business operations.

In compliance with the AML/CFT (Amendment) Act, 2023 and The Proceeds of Crime and Anti-Money Laundering Regulations, 2023 (POCAMLA), all financial institutions are required to collect, verify, and maintain up-to-date information on the beneficial owners of their business partners.

Who is a Beneficial Owner?

The Proceeds of Crime and Anti-Money Laundering Regulations, 2023 (POCAMLA), defines a beneficial owner as a person who ultimately owns or controls a customer or the person on whose behalf a transaction is being conducted, and any person who ultimately exercises effective control over a legal person or arrangement.

This includes anyone who:

Holds at least 10% of the issued shares in the company, directly or indirectly.

Exercises at least 10% of the voting rights in the company, directly or indirectly.

Has the right to appoint or remove a director, directly or indirectly.

Exercises significant influence or control over the company’s finances or policies.

Note: Significant influence or control means participation in the finances and financial policies of a company without necessarily having full control over them.

Who Needs to Submit Beneficial Ownership Information

All organizations using M-PESA Paybill, Short-Term Paybill, Bulk Payment, Buy Goods, and Business Till services are required to declare their ownership details.

How to Submit the Information

Beneficial ownership details should be submitted through the Beneficial Ownership (BO) Portal, available to authorized individuals only:

Business Administrators within the M-PESA G2 Portal.

The nominated number authorized to manage organization funds via USSD.

You can access the BO Portal here: https://www.partnerhub.safaricom.co.ke/beneficial-owner

Need Help?

If you need support or clarification, please reach out through the channels below:

For Lipa na M-PESA customers: Email This email address is being protected from spambots. You need JavaScript enabled to view it. or call +254 722 002222

For Agents and Dealers: Email This email address is being protected from spambots. You need JavaScript enabled to view it. or call line 300

For Money Remittance Partners: Email This email address is being protected from spambots. You need JavaScript enabled to view it.
You can also contact your account manager or partner management team for assistance.

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