Safaricom In The Process of Launching Fuliza For Businesses

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Safaricom is in the process of expanding its overdraft facility Fuliza to include business applications.

The facility, for now, is only available to M-PESA customers who can use it to pay bills or send cash to friends and family in case their wallets do not have sufficient funds.

Also, only this week did Safaricom add another Fuliza use case: buying airtime. Previously, that was not possible, but many customers have been using third-party pay bill numbers to access credit from their Fuliza limits.


It is a move that will also complement Okoa Jahazi whose credit options are limited.

Now, a statement from Safaricom has revealed that the company is developing plans to launch the product for businesses.

This is key because Fuliza has proved it is a cash cow for the company.

For instance, the company disbursed KES 242 billion in the first half of the 2021/2022 FY.

It made KES 2.8 billion over the same period.

Fuliza, as it stands, has more than 1.7 million daily customers.

The business applications are still going under review because Safaricom has applied to regulators before launching the service to business owners.

The development is of key interest because it will tap into more than 400K businesses that use Lipa Na M-PESA services.

It would also imply that businesses will have access to the overdraft facility to replenish their stock or pay for other business-related services.


So far, it is not clear which regulators Safaricom is working with, but word has it that the firm is engaged in discussions with the CBK and Capital Markets Authority.

Fuliza has since surpassed the likes of KCB M-PESA and M-Shwari in terms of revenues made. It, therefore, makes sense why the company is exploring additional channels to expand the use cases of the product.


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

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