mkopo wa pochi

Safaricom, the leading mobile network operator in Kenya, has partnered with Pezesha, a digital financial services provider, to launch Mkopo Wa Pochi. This innovative loan product is designed to empower small and medium-sized businesses using the popular M-PESA mobile money platform.

While details are scarce, the new loan product will be available via a mini app that has already been silently rolled out in an update to the M-Pesa app.

Mkopo wa Pochi Key Details

  • Who is Eligible: Mkopo Wa Pochi is exclusively available to Safaricom customers who are active users of the Pochi La Biashara business platform.
  • How to Apply: Eligible businesses can apply for loans directly through the M-PESA channels (USSD, STK, or APP).
  • Loan Terms: Loans are subject to a 7-day repayment period with a potential 7-day rollover option, along with specific fees and interest rates.
  • Credit Limit: Individual credit limits are determined by Pezesha based on a variety of factors, including business transaction history and credit information.
  • Security: Safaricom and Pezesha prioritize the privacy and protection of user data, adhering to strict data protection standards.

Mkopo Wa Pochi aims to address the financial needs of small businesses by offering quick and convenient access to credit. This is especially crucial in the current economic climate, where many businesses face challenges due to limited access to traditional financing.

This partnership highlights the growing trend of collaboration between mobile network operators and fintech companies in Kenya. By leveraging their respective strengths, these entities are creating innovative financial solutions that cater to the specific needs of Kenyan businesses.

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Mkopo Wa Pochi offers a straightforward interest rate structure. A flat interest rate of 1.09% is applied to the loan amount upfront for the entire 7-day loan period. This means that the total repayment amount, including principal and interest, is the same whether the loan is repaid early or on the final due date. However, it’s important to note that additional fees, such as a 2.76% access fee and a potential 3.85% rollover fee, may apply.

Mkopo wa pochi

Screenshot

We couldn’t get the mini app to work just yet, but you can follow Techspace Africa and we will keep you updated as Mkopo Wa Pochi rolls out

For detailed terms and conditions, customers can visit the official Safaricom website or the Pezesha platform.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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