This archive report was first published on 14 November 2019.
At the prestigious AfricaCom 2019 in Cape Town, Safaricom and Huawei were jointly awarded the 'Most Innovative Service' award for their groundbreaking Mobile Money Overdraft service, known as Fuliza.
Launched in January 2019, Fuliza enables M-PESA users with insufficient funds to borrow money for completing transactions, further deepening financial inclusion in Kenya.
With over 23.6 million M-PESA users in Kenya, Safaricom's innovative service has been gaining popularity, with Kenyans transacting over KES 6.2 Billion (USD 62M) in Fuliza's first month.
According to Michael Joseph, CEO of Safaricom, '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.'
Fuliza is empowered by Huawei's Mobile Money Finance Overdraft Platform, which enables the design, development, and deployment of innovative finance products in a highly secure and stable way.
