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Wireless

Safaricom's Fuliza loans reach nearly KES 1 bln daily in H1 because of coronavirus

Tuesday 6 October 2020 | 10:35 CET | News
Safaricom subscribers more than doubled borrowings from the overdraft service Fuliza in the six months to June, as the Covid-19 lockdown led to layoffs and pay cuts, Business Daily reported. During the half year, Fuliza loans rose to KES 176 billion from KES 81 billion in the same period a year earlier, indicating daily borrowing of KES 967 million. The jump in the uptake happened as the economy shed 2.23 million jobs amid sluggish corporate earnings in the wake of Covid-19.

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Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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