Safaricom telecom company harvests billions of money daily. From the report they recently released it showed that most Kenyans like to borrow.
In January 2019 Safaricom telecom company introduced a project facility called Fuliza. This is an overdraft facility allows one to send money even if there are no enough funds in one's Mpesa account.
From the report they recently released it shows that Kenyans borrow at least Ksh. 1.2 billion daily. This amount exceeds that of lending project, Mshwari, that they launched in the year 2012.
The 'Fuliza' project did not suffer much of problem of loan default, associated with lending. This is because the the amount lent is automatically repaid once one's MPesa account is toped up. This has also led to decline by 15 percent in the number of Mshwari Customers
Safaricom generates about 5.2 percent of Kenya's Gross Domestic product. In addition to this it has offered over 190000 jobs in the year 2020/2021, according to their report.
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