• Latest
  • All
  • How To
The World of FinTech that Revolves Around M-Pesa and the Threat it Poses to Banks

Safaricom Raises M-Shwari Loan Limit to KES 2000

August 12, 2020
Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025
Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025
Open TV

Open TV Brings Fast and Ad-Free IPTV to Android

July 7, 2025
Microsoft

Laid-Off Microsoft Workers Told to Ask ChatGPT for Career Support

July 7, 2025
DHgate Tablet Cases deals
nairobi barricades

Live Barricades App Offers Relief to Stranded Nairobi Commuters on Saba Saba

July 7, 2025
Voter Verification Portal Offline Indefinitely for System Maintenance

IEBC Portal Shutdown for Undisclosed Maintenance Period

July 7, 2025
Infinix Note 50 Pro x Java House Collab

Infinix Teams Up with Java House to Launch Note 50 Pro Series

July 4, 2025
Instagram threads

Meta Adds Direct Messages to Instagram Threads

July 7, 2025
Infinix Hot 60i Pre-order

Infinix Hot 60i Now Available for Pre-Order in Kenya

July 4, 2025
Windows

Windows Loses Ground as Users Switch to Mac, Linux, and Mobile

July 7, 2025
Microsoft

Microsoft Slashes 9,100 Jobs in Biggest Layoffs Since 2023

July 4, 2025
NASA

NASA Brings Space Missions to Netflix at No Extra Cost

July 3, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Safaricom Raises M-Shwari Loan Limit to KES 2000

Kenn Abuya by Kenn Abuya
August 12, 2020
in News
Reading Time: 1 min read
250
0

Safaricom launched M-Shwari a few years ago. The loan product was also fronted as a platform to allow Safaricom customers to save more than access it for short- or long-term loans.

In late 2018, Safaricom revealed that it was bringing an overdraft facility for its millions of M-PESA users. Dubbed Fuliza, the product went live in early 2019 and has since grown to be a go-to ‘loan’ service for a lot of people.

Similar to M-Shwari, NCBA is one of the partners that manage Fuliza.

Business Daily has since reported that customers who use M-Shwari will see some changes.

M-Shwari and Fuliza are going to co-exist in the sense that borrowers will need to request a minimum of KES 2000 to use the former. Any smaller funds will be completed as an overdraft (Fuliza).

This essentially means that the minimum amount for an M-Shwari loan has been raised to KES 2000 from KES 500.

It should also be noted that M-Shwari attracts a smaller facility fee (7.5%), unlike Fuliza that is quite expensive at 1.083% (daily).

For context, a KES 1000 M-Shwari loan only needed KES 56.25 in facility fees over one month. The same amount attracts KES 243.68 in interest from Fuliza. These numbers are high because of the risks associated with online loan products.

Safaricom and NCBA say that this development has been made to stop customers from being listed by the CRB as a result of borrowing small amounts. Fuliza is also essential in this play because any deposit into the M-PESA wallet is used to clear the overdrawn balance. For M-Shwari, you have to explicitly make a payment.

Read More: How to Use Fuliza, Safaricom’s Overdraft Facility; Service Fees and Repayment Process

Tags: FulizaM-ShwariNCBASafaricom
SendShare148Tweet92
Kenn Abuya

Kenn Abuya

Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]

Related Posts

Mobile Data

Kenya Draws More Tourists as Mobile Data Roaming Soars

July 3, 2025
Safaricom Ethiopia Celebrates Big Win with 10 Million Customers

Safaricom Ethiopia Celebrates Big Win with 10 Million Customers

July 1, 2025
Which ISP is best in Kenya

Kenya’s Best ISP: Faiba Claims the Crown for Fastest Internet

June 30, 2025
the process of setting up an Internet service provider (ISP) in Kenya

Airtel Rises While Safaricom Drops in Network Quality Scores

June 30, 2025
Unified Payment Interface

CBK’s New Fast Payment System Plan Could Rival M-Pesa

June 24, 2025
Kenya Safaricom share sale

Kenya Plans Mega Sale of Safaricom Shares to Raise Over a Billion Dollars

May 26, 2025

Latest

Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025
Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025
Open TV

Open TV Brings Fast and Ad-Free IPTV to Android

July 7, 2025
Microsoft

Laid-Off Microsoft Workers Told to Ask ChatGPT for Career Support

July 7, 2025
nairobi barricades

Live Barricades App Offers Relief to Stranded Nairobi Commuters on Saba Saba

July 7, 2025
Voter Verification Portal Offline Indefinitely for System Maintenance

IEBC Portal Shutdown for Undisclosed Maintenance Period

July 7, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 2025

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

More News

Infinix Teams Up with Java House to Launch Note 50 Pro Series

Meta Adds Direct Messages to Instagram Threads

Infinix Hot 60i Now Available for Pre-Order in Kenya

Windows Loses Ground as Users Switch to Mac, Linux, and Mobile

Microsoft Slashes 9,100 Jobs in Biggest Layoffs Since 2023

NASA Brings Space Missions to Netflix at No Extra Cost

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.