Safaricom has unveiled a significant revamp of its business credit solutions, particularly targeting Micro, Small, and Medium Enterprises (MSMEs) in Kenya. This strategic initiative aims to bridge credit gaps for MSMEs by offering convenient and flexible repayment options and loan terms.
The improved credit solutions are available through various platforms, including USSD *234# and M-PESA Business App. Key offerings of this revamp include Fuliza Biashara, Taasi Till, and Taasi Pochi.
Fuliza Biashara allows Lipa na M-PESA merchants to access multiple overdrafts ranging from Kshs 1,000 to Kshs 400,000 based on their assigned limit. As part of the revamp, overdrafts will be recovered where there is an inflow on the till.
Through Taasi Till, businesses will have access to short-term credits ranging between Kshs 1,500 and Kshs 250,000, depending on eligibility. theht
Taasi Pochi is designed for businesses using Pochi la Biashara, offering credit ranging from Kshs 1,00 to Kshs 250,000
For businesses using Pochi la Biashara, ‘Taasi Pochi’ offers credit ranging from KES 1,000 to Kshs 250,000, available immediately on the Pochi wallet via the M-PESA App or USSD *334*8#.
Taasi Till is a business credit offering short-term credit ranging between Kshs 1,500 and Kshs 250,000, depending on eligibility.
To be eligible for both Fuliza Biashara and Taasi, merchants must have had active tills or Pochi wallets for over six months. Approved credit will be deposited directly into the user’s M-PESA wallets. The credit solutions come with flexible repayment periods of 14 to 30 days.
“Businesses play a pivotal role in Kenya’s economy and significantly impact our communities. Leveraging the power of technology, Taasi will offer convenience and access to credit for MSMEs, allowing them to focus on scaling their businesses,” said Dr. Peter Ndegwa, Group CEO, Safaricom PLC.
This initiative underscores Safaricom’s commitment to driving financial inclusion for entrepreneurs across Kenya, especially those in the informal sector. The development comes after Safaricom became the first company to surpass billion-dollar earnings in East Africa.
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