Safaricom is one the major telecommunication industry that offers a wide range of services to their clients. The company has outlined various products to M-Pesa Users that enable people to transact their businesses with ease when they are lacking cash.
Safaricom plans to extend it's overdraft Fuliza facility to business in a move that looks set to increase the daily lending for product beyond sh1.34billion.
M-Pesa African Managing director Mr.Sitoyo said in a call with the investors and financial analysis that Fuliza for business is among product that Safaricom is seeking regulatory nod for, including a phone based wealth management product called Mali.
The product will helped M-Pesa Users to boost their businesses.Safaricom has established that there are over 400,000 enterprises that uses Lipa na Mpesa. This will both boost income to Safaricom while at the same time small businesses as they can get overdraft to invest in their business activities.
"It's something that we are really keenly looking at, given we have over 400,000 business that use Lipa na Mpesa," said Sitoyo.
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