Fuliza loans hit Sh1bn daily during Covid era

An attendant makes an M-Pesa transaction for a customer. FILE PHOTO | NMG

Safaricom #ticker:SCOM subscribers more than doubled their borrowings from the overdraft service Fuliza in the six months to June when Kenya imposed a coronavirus-induced lockdown that led to layoffs and pay cuts.

Fuliza loans in the six months rose to Sh176 billion from Sh81 billion in the same period a year earlier, indicating a daily borrowing of Sh967 million.

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