Safaricom users borrow Sh81 billion on Fuliza in 6 months

Users of Safaricom’s Fuliza borrowed Sh81 billion over the first six months of this year – almost double the amount borrowed end of April at Sh45billion since the product’s launch.

Fuliza is a service that allows M-Pesa customers to complete their transactions when they have insufficient funds in their account.

The amount is based on results published by the telco’s partner banks.

The company’s profit after tax grew 14.7 per cent to Sh63.4 billion in the year to March this year compared to Sh55.29 billion last year.

Revenues went up to Sh250.9 billion, which is a 7.1 per cent rise from Sh234 billion previously.