This archive report was first published on 14 November 2019.
At the AfricaCom 2019 in South Africa, Safaricom and Huawei were recognized for their innovative Mobile Money Overdraft service, known as Fuliza, which has revolutionized the way people access money.
Launched in January 2019, Fuliza has gained immense popularity, with over 26 million subscribers using the service in the first month alone, resulting in over Ksh6.2 billion transactions.
Michael Joseph, acting Safaricom CEO, praised the positive reception of Fuliza, attributing its growth to M-PESA, saying, “M-PESA continues to play a leading role in deepening financial inclusion in the country. Fuliza enriches our mobile financial services portfolio further fulfilling our promise to always provide our customers with relevant products and services that meet them at their point of need. We are glad to partner with Huawei in bringing this commitment to life.”
The award, 'The Business of Tomorrow', was a testament to the success of Fuliza, which has transformed the way people access money, especially in areas where traditional banking services are limited.
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