Barclays Bank rolls out the ‘Mega Millionaire’ Promotion

Barclays Bank of Kenya has launched a 5 month (20weeks) promotional campaign dubbed the “Barclays Mega Millionaire”. The campaign is aimed at encouraging Barclays account holders to grow their deposits and develop a savings culture as a way to empower them both socially and economically.
The promotion which starts today will see one lucky account holder move into the millionaires club by winning the grand prize of Ksh10million, with three lucky winners walking away with cash prizes amounting to Ksh100, 000 each every week for 20 weeks.
While commenting on the campaign roll out, Barclays Bank of Kenya Acting Head of Consumer Banking Edgar Kalya said, “We must recognize that the cost of living has gone up. The fall of the Kenyan shilling against international currencies among other prevailing factors have driven up oil prices and as a result, compelled many Kenyans to survive from hand to mouth. In this regard, most Kenyans are not keen on investments. Our move to launch this liability promotional campaign is not primarily to reward our customers but to educate them on the need to develop a saving culture for a better future.  This promotion seeks to give consumers a choice on how to spend the money that they will win, rather than limit them to specific prizes.”
To enter into the draw, one needs to open a Barclays’ personal account and deposit a minimum of Ksh5, 000 or open a business account and deposit a minimum of Ksh50, 000. For existing Barclays account holders, one has to grow the deposit in their accounts to get more entries to the draw.    
“The key thing that the bank account  holder will need to remember is that  every week, the three lucky winners will get their deposits doubled, to a maximum of Ksh 100,000, thus the more money you deposit, the more money you will win, as well as the higher your chances of winning.” added Mr. Kalya.
“Our consumer insights show that majority of our consumers have various pressing responsibilities such as school fees, mortgages, family needs, and all these require a lot of money; thus we believe that in order to make a difference to their lives, the promotion shall give them the freedom to choose how they want to spend the money they win, rather than limit them to specific prizes that will probably not fulfill their immediate needs,” noted Mr. Kalya.
The draws will be conducted every Friday where the winner will be selected through a random computer selection. The weekly winners shall have the funds credited to their accounts. The bank also notes that the promotion excludes loan credits and fixed deposit accounts.