Safaricom Launches 'Fuliza Ya Pochi' Credit Facility for Micro-Traders

Safaricom has launched 'Fuliza Ya Pochi', an overdraft facility for its 'Pochi La Biashara' merchants in Kenya. The service allows eligible traders to complete transactions, pay suppliers, and settle bills even when their wallet balances are insufficient, with repayments deducted automatically from future incoming payments. Currently, over one million merchants qualify for the service based on their transaction history.

The credit facility, developed in partnership with Sidian Bank, includes a 1 per cent interest fee and daily maintenance costs, with a 30-day repayment window. The launch builds on the success of the original 'Fuliza' model and the rapid growth of the Pochi La Biashara platform, which now serves 2.2 million users. By utilizing transaction data rather than traditional collateral, Safaricom aims to expand financial services to the informal business sector.