Wednesday
February 13
2019

Kenyans borrowed a record $620 million in just one month on Safaricom’s Fuliza overdraft service

Kenya’s Safaricom subscribes borrowed a record Sh6.2 billion ($620 million) in just one month on the Safaricom’s Fuliza overdraft service, clearly demonstrating a huge demand for instant, micro-loans in the country.

The Fuliza overdraft facility, which was launched on January 5, is a partnership involving Safaricom, Commercial Bank of Africa (CBA) and KCB Group.

Source: Business Insider Sub-Saharan Africa (link opens in a new window)

Categories
Finance
Tags
fintech, mobile finance, mobile money, Safaricom