• Latest
  • All
  • How To
M-Pesa Services Maintenance

State of M-Pesa As Fuliza Disbursements Hit KES 2.634 Trillion

December 17, 2024
Bitchat

Jack Dorsey Launches Bitchat, a Bluetooth-Only Messaging App

July 10, 2025
YouTube AI slop is getting demonetized

YouTube Declares War on Low-Effort AI Videos via Demonetization

July 10, 2025
Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
DHgate Tablet Cases deals
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 2025
Former X CEO, Linda Yaccarino

Linda Yaccarino Steps Down as CEO of X After Two Years

July 9, 2025
Apple-WWDC25-iOS-26

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

July 9, 2025
Official document handover by Bernard Mwonyonyo and Habib Lukaya from Roam.

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

July 9, 2025
Samsung

This Samsung Security Update Could Change How You Use Your Phone

July 9, 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

State of M-Pesa As Fuliza Disbursements Hit KES 2.634 Trillion

Sakwa Kombo by Sakwa Kombo
December 17, 2024
in News
Reading Time: 3 mins read
288
0
M-Pesa Services Maintenance

In the financial year ending March 2024, Safaricom’s M-PESA revenue grew 19.5% year-over-year (YoY) to KES 140,006.7 million. This means M-Pesa remains Safaricom’s PLC biggest revenue earner contributing 42.2% of total revenue earned. The total value of M-Pesa transactions increased to KES 40.24 trillion, while the number of transactions surged by 33.9% YoY to KES 28.33 billion.

This is continued evidence that M-Pesa remains a key player in Kenya’s finance sector rivalling top banks such as KCB Bank Kenya and Equity Bank. It comes as no surprise that calls to split M-Pesa from the mother company have resurfaced.

As per company data, Safaricom’s M-Pesa has 34.64 million customers. A significant 90.9% (31.51 million) of M-Pesa customers actively used the platform at least once a month throughout the year.

Based on Communication Authority of Kenya report for the period ending December 2023, Kenya has a total of 38,002,803 mobile money subscriptions. This means about 91.2 % of the Kenyan mobile money sector is held by M-Pesa.

For its Ethiopia market, M-PESA has grown to 4.5 million registered customers since launch in 2023.

Reduced M-Pesa Deposits

However, despite the good overall numbers, there was a slight decline in customer deposits for the last half of FY23/24. Deposits into M-Pesa between September 2023 and March 2024 reached KES 263.3 billion. This was a KES 10.6 billon drop. In the preceding six months, M-Pesa customers had deposited KES 273.9 billion in their wallets.

READ: Mobile Money: Kenyan Regulations and Fees Cause Decline in Transaction Values

Safaricom has not given explicit reasons that may have led to this decline. It is worth noting that this decline came after the Finance Bill 2023 was enacted into law. The bill led to an increase in M-Pesa charges and customers may have resorted to cash and other platforms such as banks a little bit more.

Still, Lipa Na M-PESA active merchant numbers grew and now stand at 633,009 while Pochi La Biashara tills grew to 632,681. The value of Lipa na M-Pesa payments grew to KES 2,075.6 billion.

Decline in Fuliza Customers

In partnership with two commercial banks in Kenya, NCBA and KCB Bank, Safaricom runs a credit overdraft facility dubbed “Fuliza”. This product is meant to cover short-term cashflow shortfalls subject to an applicable pre-determined limit. The two banks act as underwriters.

Fuliza is an opt in service and customers can opt out anytime they wish. For the financial year, ended March 2024, 1 million customers opted to unsubscribe from the service. While Safaricom has dropped Fuliza charges by up to 50%, customers may still be finding the facility charges expensive. Based on data from Safaricom, Fuliza customers stand at 7.1 million down from 8.1 million at the end of the previous financial year.

Read: How to Opt Out of Fuliza

The decline in Fuliza customer base had its impact, with the average amount borrowed per person dropping 14.6% to KES 254.4. This resulted in a 28.4% decrease in total revenue, reaching KES 3.9 billion. This is the first time there has been such a drop in revenue.

Fuliza Customer Base and Revenue Decline for FY24

Fuliza total disbarments has constantly been rising since 2019. The Repayment vs Disbursal rate also had a slight growth after declining in previous years.

In terms of disbursements to customers, for the financial year ending March 2020, KES 245 billion was disbursed. The next financial year, FY21, saw KES 351 billion disbursed. FY22 had KES 502.6 billion disbursement via Fuliza. With FY23 registering KES 701.5 billion and FY24 KES 833.8 billion, it means KES KES 2,633,900,000,000 (KES 2.634 trillion) has been disbursed to Fuliza customers since launch.

Tags: FulizaSafaricom
SendShare160Tweet100
Sakwa Kombo

Sakwa Kombo

My Bio is in my written articles.

Related Posts

Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
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

Latest

Bitchat

Jack Dorsey Launches Bitchat, a Bluetooth-Only Messaging App

July 10, 2025
YouTube AI slop is getting demonetized

YouTube Declares War on Low-Effort AI Videos via Demonetization

July 10, 2025
Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 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

Jack Dorsey Launches Bitchat, a Bluetooth-Only Messaging App

July 10, 2025

YouTube Declares War on Low-Effort AI Videos via Demonetization

July 10, 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

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

Rockstar May Be Testing 96-Player Servers for GTA 6

Linda Yaccarino Steps Down as CEO of X After Two Years

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

This Samsung Security Update Could Change How You Use Your Phone

  • 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.
.