A mobile phone subscriber withdraws money from an M-Pesa shop.

| File | Nation Media Group

Kenyans borrow Sh1.2bn per day from Fuliza, M-Shwari

What you need to know:

  •  The Fuliza and M-Shwari loans are offered in partnership with Safaricom, but the bank underwrites the risks attached to the borrowers.
  • The 2019 merger of CBA Bank and NIC Group PLC created NCBA Group, which controls the two popular mobile loan platforms Fuliza and M-Shwari.

Kenyans borrowed nearly Sh1.2 billion every day on Fuliza and M-Shwari mobile loans last year, signalling a deepening debt dependence that increased with last year’s massive job losses caused by the Covid-19 pandemic.


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