Borrowings from Safaricom’s #ticker:SCOM overdraft service rose to Sh1.2 billion daily in the six months to June this year, signalling the income shortfalls that have pushed many Kenyans to rely on short-term expensive debts.
The amount of cash disbursed on Fuliza hit Sh220.38 billion over the six months, marking a 25 percent jump from Sh176 billion in a similar period last year. The jump in overdrafts translates to Sh1.2 billion daily borrowing between January and June this year, compared to Sh972.3million over a similar period of 2020.
