Businesses to tap up to Sh400,000 Fuliza loans
Nairobi, May 4 -- Businesses can now tap up to Sh400,000 Fuliza overdraft service, easing access to the facility previously restricted to individuals seeking to complete payments when they have insufficient funds in their M-Pesa wallets.
Safaricom has partnered with KCB Bank Kenya to roll out Fuliza ya Biashara, a service allowing business owners to access unsecured credit by overdrawing through their M-Pesa business tills to cover short-term cashflow shortfalls.
The telco said the service would advance an overdraft of between Sh1,000 to Sh400,000, with an interest-free period of two days. Traders will be allowed to draw multiple overdrafts for as long as it is within their limits.
The service attracts a two percent daily access fee fo...
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