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Safaricom lends Sh1.3b daily as Fuliza gets 700,000 new borrowers

Peter Ndegwa Chief Executive Officer (CEO) Safaricom PLC. [Wilberforce Okwiri, Standard]

Borrowings from Safaricom’s overdraft facility rose to Sh1.34 billion daily in six months to September this year as economic hardships pushed 700,000 Kenyans to register for its Fuliza service.

The telco has disclosed that the value of disbursements via the service hit Sh242.6 billion in the six months, up from Sh149.4 billion that had been disbursed in a similar period last year. 

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Safaricom Fuliza