- Over 50% of Kenyans rely on short-term loans to meet basic needs amid harsh economic conditions in the country
- M-Shwari, offered by Safaricom and Kenya Commercial Bank (KCB), is one of the platforms used by borrowers
- A Kenyan man took to Facebook and asked Safaricom to increase his limit, and the telco explained how he could boost it
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TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers profound insights into Kenyan and global economic trends.
Over half of the Kenyan population relies on loans to make ends meet.
A survey by Reel Analytics revealed that 55 out of every 100 Kenyans surveyed had acquired loans from digital lending platforms.
The survey noted that most Kenyans prefer digital platforms because they are easily accessible and remit loans faster.
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M-Shwari, offered by Safaricom and Kenya Commercial Bank (KCB), is one of the platforms borrowers use.
Why man asked Safaricom to increase his M-Shwari limit
One such Kenyan is Kadoneza Junior, who hilariously asked Safaricom to increase his M-Shwari limit so that he could use the money to pay his dowry.
In a comment under a post by Safaricom on Facebook, the man revealed he wanted to get married but had limited funds.
"Safaricom PLC, I want to marry, but I don't have a dowry. Can you increase my M-Shwari limit, please, so that I can do so," Junior wrote.
Safaricom clarified to TUKO.co.ke that for customers to increase their limits, they should save on M-Shwari regularly and repay their loans on time.
"Save regularly on M-Shwari, use M-Pesa, data, voice and repay your loan in time, including Okoa Jahazi. Once reviewed, you'll be advised via SMS," Safaricom explained.
Why another Safaricom customer lamented
In related news, a Kenyan man raised concerns over KSh 0 loan limit he had been receiving from Safaricom M-Shwari and KCB M-Pesa loan facilities.
The man lamented that for the last five years since he repaid his last loan balance, the company has yet to allocate another limit.
The company revealed it had set a loan limit reinstatement promotion for select defaulters once they clear their loans.
How long does it take to restore Fuliza limit?
In a separate story, TUKO.co.ke reported that Kenyans have turned to short-term loans to meet pressing needs such as food as the cost of living continues to rise.
The majority use Fuliza M-Pesa, an overdraft loan facility offered by Safaricom, mostly to complete transactions in case of limited funds.
However, those unable to access the loan raised concerns over the time they have spent with Safaricom lines without being allocated the limit.
Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke
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