• Latest
  • All
  • How To
Understanding Faraja, Safaricom’s Zero Percent Interest Credit Facility

Understanding Faraja, Safaricom’s Zero Percent Interest Credit Facility

April 8, 2022
ConnectedAfrica2025(Day4)-meta-foondamate

Connected Africa 2025 Day 4: FoondaMate and Meta Team Up to Bring AI to Classrooms

May 29, 2025
google-veo-3

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

May 29, 2025
iOS 26

Apple Plans Big Rename for iOS and macOS at WWDC 2025

May 29, 2025
University student fined for defamatory Facebook posts

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025
DHgate Tablet Cases deals
AI Africa policies database

New Platform Brings All African AI Policies Under One Database

May 28, 2025
POATE 2025

Kenya’s Tourism Sector Grows as Travel Gets Easier Across East Africa

May 28, 2025
sodium-ion battery

Researchers Develop Sodium-Ion Battery That Charges to 80% in 6 Minutes

May 27, 2025
TV Gambling Ads

Regulator Fines Stations Using Religious Shows to Push Gambling

May 27, 2025
Connected Africa Summit 2025

Connected Africa 2025 Day 2: Focus on Digital Inclusion & Cybersecurity

May 27, 2025
whatsapp chatbots

iPad Users May Finally Get a Native WhatsApp App

May 28, 2025
Connected Africa Summit

Connected Africa Summit Calls for Unified Tech Vision

May 28, 2025
Kenya Safaricom share sale

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

May 26, 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

Understanding Faraja, Safaricom’s Zero Percent Interest Credit Facility

Kenn Abuya by Kenn Abuya
April 8, 2022
in Features
Reading Time: 4 mins read
300
4

Safaricom has many credit products, many of which are offered by the telco in partnership with other lenders. The likes of M-Shwari and KCB M-PESA have been around for an extended period and have since been supplemented by an overdraft facility named Fuliza, which, two years after its official rollout has overtaken the former two in terms of revenue.

However, many of you may not be aware of Faraja, a point-of-sale credit that allows customers to buy goods and services. Customers can also use Faraja to pay bills from partner outlet.

The good thing about Faraja is that it charges 0 percent interest, effectively meaning that customers are not charged when they pay back what they have borrowed.

Faraja

Faraja Credit is an upcoming credit company that is partnering with Safaricom to offer the service. Ideally, it is rewarding long-term Safaricom customers with yet another channel to access credit, and at zero interest. It should go live in the next couple of days or weeks.

Period

The credit period can either be in 7 days or 30 days.

Qualification

Faraja is available to qualifying M-PESA customers, who have an active Safaricom connection. Credit limits are based on credit viability just like other loan platforms.

Activation

Interested parties can opt in by dialing *799#.

To note, Faraja is only available for a maximum of two accounts under one National ID.

Furthermore, a customer can access Faraja as many times as they want, and as far as their credit limit allows.

Withdrawal

Just like Fuliza, customers are not allowed to withdraw cash from their Faraja accounts because as said, the funds are only available for point-of-sale transactions and paying bills.

Put differently, you can only use Faraja for Lipa na M-PESA and Pay Bill transactions at outlets that allow Faraja transactions.

Faraja outlets

The outlets will be listed on the Faraja website, which, for now, is under development, and will be ‘coming soon.’

The outlets can also be found on the Faraja Credit app, which is also in early access at Google Play Store. I have tried to run the app, but it has not been able to opt me in. Therefore, you are better off using the provided USSD.

I have also since found out that Naivas supermarkets is one of the outlets that accept Faraja.

Repaying Faraja

A customer should dial *799# to see their transactions. They can also pay for one transaction at time convenient to them.

The funds are then billed from your M-PESA wallet. The procedure is the same for 7-day or 30-day loans.

Partial repayments are also acceptable. Earlier payments will see a customer increase their credit limits.

Amounts and how to pay for goods

The minimum you can transact is KES 20 and the maximum is KES 100,000, but this is restricted to your approved credit limit.

Dial *799# and select either 1. Buy goods and Services or 2. Paybill.

For Buy Goods, you will be asked to enter the till number, amount and MPESA pin, after which you will receive a notification on the success/failure of your transaction.

For paybill, you will be prompted to enter the business number and account number, followed by MPESA pin and the corresponding notifications. This service requires you to enter your MPESA pin at every transaction and where authentication is required.

Default

You will not pay any penalties for late payment. However, late payment will disqualify you from using the product in the future.

Revenue model

A talk with one of the agents of Faraja is that customers only incur transaction costs when repaying Faraja. However, the company some revenue from merchant collaborations who allow Faraja payments.

Overall, is the product interesting to you and is it something you can use?

Tags: Safaricom
SendShare166Tweet104
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 kenn.abuya@techweez.com

Related Posts

Kenya Safaricom share sale

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

May 26, 2025
Safaricom, Airtel, Telkom lawsuit

Safaricom, Airtel, Telkom and CA Sued in Data Rollover Lawsuit

May 28, 2025
Safaricom launches revamped business loans

Safaricom Unveils Business Credit via M-PESA and Pochi Wallets

May 21, 2025
Safaricom Quickmart partnership

Safaricom 4G and 5G Routers Now Available at Quickmart Stores

May 17, 2025
Safaricom 5G for Business

How Safaricom 5G is Revolutionizing Enterprise Connectivity

May 17, 2025
Safaricom-IXAfrica-Centres-1

Safaricom Partners with iXAfrica to Build Region’s First AI-Ready Data Centre

May 17, 2025

Latest

ConnectedAfrica2025(Day4)-meta-foondamate

Connected Africa 2025 Day 4: FoondaMate and Meta Team Up to Bring AI to Classrooms

May 29, 2025
google-veo-3

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

May 29, 2025
iOS 26

Apple Plans Big Rename for iOS and macOS at WWDC 2025

May 29, 2025
University student fined for defamatory Facebook posts

University Student Fined KES 7.5 Million for Defamatory Facebook Posts

May 29, 2025
AI Africa policies database

New Platform Brings All African AI Policies Under One Database

May 28, 2025
POATE 2025

Kenya’s Tourism Sector Grows as Travel Gets Easier Across East Africa

May 28, 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

Connected Africa 2025 Day 4: FoondaMate and Meta Team Up to Bring AI to Classrooms

May 29, 2025

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

May 29, 2025

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

Follow Us

Editorials

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

Introducing A Brainbox Quiz: Techweez’s Monthly Trivia Night!

More News

Researchers Develop Sodium-Ion Battery That Charges to 80% in 6 Minutes

Regulator Fines Stations Using Religious Shows to Push Gambling

Connected Africa 2025 Day 2: Focus on Digital Inclusion & Cybersecurity

iPad Users May Finally Get a Native WhatsApp App

Connected Africa Summit Calls for Unified Tech Vision

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

  • 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.
.