Safaricom subscribers will now be able to buy airtime through the telco’s overdraft facility, Fuliza.
The new feature will also allow users to access to higher amount compared to airtime credit compared to OKOA JAHAZI.
Fuliza was launched two years ago in 2019. Since its inception, it has grown to be one of the most profitable products for Kenya’s largest telco.
The service is an alternative to the credit overdraft facility Okoa Jahazi that allows users to borrow airtime when their balance reaches below Sh5 and are charged a facility fee of 10 percent on each round of borrowing.
During Safaricom’s half-year earnings call released this month, the company reported a 62.4 percent increase in the usage of Fuliza. The company reported that it had disbursed Sh242.6 billion in the period, compared to Sh149.4 billion in the same period last year.
This translates to about Sh1.32 billion disbursed daily for subscribers borrowing about Sh375 each on the facility.
Fuliza now has 1.7 million active daily users and has dwarfed Safaricom’s other loan products, KCB M-Pesa and M-Shwari, which were launched by Safaricom years before Fuliza, underlining its popularity.