This archive report was first published on 14 November 2019.
On November 14, 2019, Safaricom and Huawei were jointly awarded the prestigious 'Business of Tomorrow' award at AfricaCom 2019 in Cape Town, South Africa, for their innovative mobile money service, Fuliza.
Launched in January 2019, Fuliza has gained popularity among users, enabling them to borrow money from the company, which is then wired to their M-PESA accounts. The service has seen significant growth, with over 26 million subscribers, and has facilitated transactions worth over KES 6.2 Billion (USD 62M) in the first month of its launch.
Safaricom CEO Michael Joseph attributed the success of Fuliza 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.”
David Chen, Director of Marketing and Solution Sales for Huawei Southern Africa Region, also praised the partnership with Safaricom, saying, “We have focused on building a world-class application programming interface (API) to enable the local ICT ecosystem to tap into M-PESA to serve the needs of our client for business success and nurture the digital economy from a macro perspective.”
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