Every day Safaricom PLC recorded a staggering 1.4 million daily active users accessing Fuliza loans, the telco announced today in its Full Year results for 2021.
In the 2021 financial year, Safaricom disbursed loans amounting to Sh351.2 billion through Fuliza up from the Sh245 billion borrowed the previous year.
Kenyans continued to resort to the overdraft facility to make ends meet as the effects of the Covid-19 pandemic were felt all over.
The rate of repayment versus disbursal stood at 98.4pc with the telco listing the value of repayment for the year under review at Sh345.7 billion.
The average Fulliza amount users borrowed was Sh446.2. Fuliza made Sh4.5 billion for the telco in the year, more than KCB M-PESA and M-Shwari which made it Sh 800 million and Sh2.2 billion respectively.
Safaricom launched Fuliza as an overdraft facility that allows consumers to complete M-Pesa transactions even with insufficient funds in their mobile wallets.
