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New Fuliza Charges: Safaricom Announces New Fuliza Discount to Take Effect October 1, 2022

Telecommunication company, Safaricom has announced new Fuliza Charges following the waiver in Fuliza Loan Maintenance fee that will take effect on October 1, 2022.

Fuliza is an overdraft facility initiated in 2019 by Safaricom, Kenya Commercial Bank (KCB) and NCBA.

According to the statement issued by Safaricom Chief Executive Officer Peter Ndegwa, Fuliza Discount of up to 40 percent has been initiated, where customers with Fuliza loan of Sh 100- Sh 500 will enjoy only 3 percent of maintenance fee, a drawdown from the previous 5 percent charges.

Only customers who have opted into Fuliza with positive Fuliza limit and no outstanding Fuliza loan will enjoy the newly established fuliza discount.

Customers will as well enjoy the waiver on daily maintenance fee for the first three days on the drawdown of Sh 1000.

Customers with Fuliza overdraft of between Sh 501- Sh 1000 will enjoy the maintenance fee of 6 percent on daily basis.

The daily charge for Fuliza loan of between Sh 1001-Sh 1500 has been revised downwards to Sh 10, Loan of between Sh 1,501- Sh 2000 and Sh 2,5001- Sh 70,000 reduced to Sh 20 and 16.7percent respectfully.

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