Fuliza and Mshwari services are offered by safaricom plc to its customers. Many people using safaricom network have registered to this two monetary service sections available in the Simcards. To acquire the Fuliza services from your phone using safaricom network, the company chose the code *234# and which allows customers to select various options including check limit and opt out options.
John Gachora, Was appointed the Ceo of NCBA bank in mau 2019. Ncba bank was a unit that was created from the merger of NIC and CBA. These two banks, were owned by Philip ndegwa and Kenyatta Family. As a Ceo, Gachora is being paid a very good amount of money.
Mpesa service in Kenya is a mobile service that most Kenyans relies on doing transactions. Today, many Mpesa users have been stranded after they were unable to transfer money to their bank accounts. Their is a technical issue that has affected bank transfer to Mpesa causing much doubt.
If M-Pesa users default on their Fuliza loans, their funds in M-Shwari and KCB M-Pesa accounts would be frozen or utilized to pay off their outstanding debt. According to a modification to the terms and conditions, Safaricom will have the authority to keep users' funds on the two mobile money accounts if they default on the overdraft option.
There will be no evasion from paying fuliza loans! Today safaricom company has outlined an updated on its rules concerning fuliza.this is due to high numbers of defrauter. According to new terms, KCB and NCBA may hold users funds in KCB and mshwari accounts as security for outstanding fuliza debts.
Since the introduction of fuliza back in 2019, almost everyone has been involved in the borrowing. In most cases netizens have a backup line in which they'll receive money incase they have outstanding fuliza loan on their official number. However safaricom have now updated fuliza terms and conditions hence defaulters have nowhere to hide.
A section of safaricom's mpesa app When Safaricom reintroduced their normal transaction costs on mpesa including sending money to other subscribers, most of its users opted to use bank to mpesa transaction which have remained costless since then. However on the 7th of October 2021, most of the Kenyans were left unhappy after an Mpesa system maintenance and upgrade prevented this transactions from happening .And some of the major banks like KCB, Equity, Ncba among others getting affected ,most of the banks affected had to send notifications to their customers over the matter apologising over the inconveniences caused
Safaricom can now hold onto a subscriber’s M-shwari and KCB Mpesa account as collateral and security for any outstanding fuliza loans. This is according to the terms and conditions that will give Safaricom the mandate to hold onto users’ funds on the two mobile money accounts in the event users default on the overdraft facility.
Safaricom uptaded its terms and conditions which are effective from 14th October 2021. It says that the uptaded terms are not new but a standard for banking products. According to the new update, Safaricom will have the mandate to hold onto user's funds on the two mobile accounts.
M-Pesa users who default on their Fuliza loans will have access to their funds in M-Shwari and KCB M-Pesa accounts blocked or used to settle their outstanding balances. This is according to an update to the terms and conditions that will give Safaricom the mandate to hold onto users' funds on the two mobile money accounts in the event users default on the overdraft facility.
Fuliza is one of Safaricom's products offered to its customers who may not have enough cash and hence may use the overdraft to settle their bills. It is one of the popular services in the country according to a recent report that stated that Sh245 billion was disbursed last year with a repayment rate of more than 98 per cent.
Your greatest advantage today can turn into your worst drawback tomorrow. Such is the vagary of life that NCBA, the third-largest bank in the country, is grappling with after President Uhuru Kenyatta signed into law the Finance Bill, 2021. With the ratification of the Bill, all the lenders with mobile lending and saving platforms have been forced to increase the cost of their loans, with all fees and commissions related to loans now attracting a 20 per cent excise duty.
Several Kenyans are stranded after being unable to transfer money from there bank accounts to their mpesa wallets. A number of social media reports there is a glitch that is affecting bank transfer to mpesa. Major banks have been affected by this glitch among them Equity ,KCB , and ABSA bank.
Most people think that the crush between President Uhuru Kenyatta and his Deputy William Ruto is based on politics. According to The Daily Post source, has revealed the real reason that led to the crush between the two. The bad blood all started after the two disagreed on the financial firm that was to be chosen to roll out safaricom's multi-billion fuliza program.
The government intruduced contributory Pension Scheme for all public workers ranging from civil servants, teachers and police officers in a bid to tame the pension burden. Having operated the free Pension since independence, it had become difficult to continue shouldering it as more and more Workers proceeded for retirement.
Good news to Mshwari Customers as NCBA bank in partnership with Safaricom have launched a campaign with an aim to support Safaricom customers. The campaign "Pamoja na Mshwari" comes after most Kenyans are on run to rebuild their economy as the country continues to recover from the pandemic that hit the country since 2020; the Corona Virus Pandemic.
The merger between NIC Group and Commercial Bank of Africa (CBA) to form the new parent company NCBA Group Inc. has been greatly received by stakeholders as they have cemented their position among other banks. Speaking during an opening ceremony of the NCBA Nyeri bank branch, Managing director John Gachora stated that the bank will be adding more funds to the Fuliza and Mshwari owned by Safaricom PLC in an effort to loan cash to consumers to grow their businesses.
Photo:Businessman Manu Chandaria with the curent Kenyan President Uhuru Kenyatta Late Kirubi's fellow businessman Manu Chandaria has lost one of his top companies ,Kaluworks Limited to NCBA over a debt of Kenya Shillings 4.3 billion under receivership ownership. Following this take over ,NCBA have appointed a receivership manager to take over as the manager of Kaluworks limited to recover the 4.3 billion debt.
Subscribe Golf From left: Wamaitha Waithaka, Kanana Muthomi and Brianna Ngecu celebrate after receiving awards during the NCBA Golf Series junior invitational tournament at the par 72 Karen Country Club course on August 24, 2021. What you need to know: A select number of young golfers from Tuesday's event will get a chance to play at the Rome Classic, which is taking place this October, and at the Big 5 tournament in South Africa next year once scores have been officially ratified.
Chandaria is one of the most prominent Kenyan Billionaires.He owns many businesses in the country.Today, one of his company has been taken by the NCBA due to a huge debt. The National Cooperative Business Association has placed Kaluworks Limited under receivership over 4.3 billion Kenya shilling debt.Kaluworks is one of the largest Kenya's largest manufacturer of aluminium roofing sheets and utensils.The manufacturing firm is part of billionaire Manu Chandaria's Comcraft Kaluworks company has been struggling over the last few years due to weak sale and stiff competition from other cookware manufacturers.The firm is being taken to cover the huge bank debt.The bank has appointed a receiver manager to turn around the firm or protect its assets in the race to recover the multi-billion shilling debt.NCBA has tapped receiver manager Pongangipalli Rao for the Kaluworks Job in a development that marks a rare blot in the career of industrial magnate.Bank loans are normally secured by assets which are taken away if the loan is not paid on time.