Kenyan mobile operator Safaricom has addressed a customer's appeal for a higher Fuliza loan limit on Facebook. Martha Muraya had requested that the telco review her borrowing ceiling, prompting Safaricom to provide a step-by-step guide on how to request a limit review. The process involves dialing *334#, selecting 00, and choosing the "Refresh My Limit" option. This move aims to assist customers in managing their loan limits effectively.
Safaricom emphasized that the limit review process is automated and driven by factors such as M-Pesa usage, airtime consumption, and repayment history of Okoa Johazi, the airtime credit facility offered by the telco. The company noted that there is no specific timeline for the review, and the outcome depends on individual customer profiles. This clarification helps manage customer expectations regarding the limit review process.
Fuliza, launched in January 2019, is an overdraft facility that allows M-Pesa users to complete transactions even when their mobile wallet balance is insufficient. The service, offered in partnership with NCBA Bank and KCB Bank, has become a popular short-term credit product in Kenya, especially among low- and middle-income earners. Its accessibility, requiring no paperwork or branch visits, has made it a preferred option for millions of Kenyans.
The Fuliza service charges a daily maintenance fee based on the outstanding balance, and individual limits are assigned based on a customer's usage profile. This approach enables Safaricom to provide tailored loan ceilings to its customers. Since its launch, Fuliza has been widely adopted, with many Kenyans relying on it to navigate cash-flow gaps between paydays.
Safaricom's response to Muraya's appeal highlights the company's efforts to engage with its customers and provide them with necessary information. The telco's use of social media platforms to address customer concerns demonstrates its commitment to customer service. By sharing the steps to request a limit review, Safaricom aims to empower its customers to manage their loan limits effectively.
The factors influencing the limit review process, including airtime consumption, M-Pesa transaction activity, and repayment consistency, are crucial in determining a customer's loan ceiling. Safaricom's automated process ensures that limit reviews are conducted fairly and based on individual customer profiles. This approach helps maintain transparency and trust in the service.
Key to Fuliza's success has been its ability to provide accessible and convenient short-term credit to Kenyans. With its widespread adoption, the service has become an essential tool for managing cash-flow gaps. By understanding the factors that influence limit reviews, customers can better utilize the service to meet their financial needs.
Key points
- Customers can request a Fuliza limit review by dialing *334#, selecting 00, and choosing the "Refresh My Limit" option.
- The limit review process is automated and driven by M-Pesa usage, airtime consumption, and repayment history.
- Fuliza has become a widely used short-term credit product in Kenya, particularly among low- and middle-income earners.
