Safaricom users borrow Sh81 billion on Fuliza in 6 months

The uptake of the Fuliza overdraft service could be a pointer to a credit starved market, with many traditional financial services out of the reach of many Kenyans. [Wilberforce Okwiri, Standard]

Safaricom customers borrowed Sh81 billion over the first six months of this year on the telecommunication company’s Fuliza overdraft facility, new data shows.

Analysts at Standard Investment Bank (SIB) say the amount is based on results published by the telco’s partner banks.