This archive report was first published on 4 November 2019.
Published on November 4, 2019, a user shared their experience with Fuliza, an overdraft service offered by Safaricom.
They have two mobile lines, multiple bank accounts, and have taken loans from digital lenders, but Fuliza remains their go-to option due to its convenience and speed.
However, the user finds Fuliza expensive and feels it punishes them for taking days off work, charging them 60 bob for each missed day.
They suggest that other financial stakeholders, such as banks and digital lenders, should not rely solely on Safaricom for their dealings with customers.
The user proposes that these stakeholders should innovate and offer alternative solutions to customers, rather than simply lamenting about Safaricom's dominance.
They also suggest that financial inclusivity is at risk if customers are forced to rely on Fuliza and other expensive options.
The user concludes that while Fuliza may be a convenient option, it is not a sustainable solution for the long term, and that other financial stakeholders should think about the impact of their actions on customers.
