M-pesa is an innovative technology that enables one to send and receive money from virtual wallets through the SIM card. More than a money transfer innovation, M-pesa is payments solution provider, financing solution provider as well as a banking solution to millions of Kenyans. As of the end of 2021, there were some 50million registered…
Safaricom has M-pesa has made buying and selling goods easy through the paybill numbers. Paybill number is a special ID provided by Safaricom such that once you enter the number when making the payment, the money is sent to the digital wallet of the vendor and they receive money. One advantage of using paybill numbers…
Zenka Finance Limited is a digital credit provider that specializes in consumer lending specializing on mobile loans through the Zenka loan app. Zenka app uses the data that you fill in during the application and Zenka algorithms to identify you, verify your identity, assess your creditworthiness, credit risk, create a credit score for you and…
Adventist Sacco is one of the leading Saccos in the country. It was started in 1988 to cater to members of the SDA church central Kenya conference. In 1990, they expanded their membership to all SDA church employees country-wide and later in 2009, to the entire SDA church membership in the country. Like Waumini Sacco,…
Kenya is one of the leading countries in Africa with a strong and vibrant Cooperative movement. Saccos in Kenya have mobilized over 622billion shillings in savings with almost 1.2 trillion shillings in loans. Sacco members have a greater preference for Sacco loans over bank loans for the following reasons: 1. Flexibility In Loan Acquisition Most…
Fuliza is an overdraft facility offered by the telecommunication company Safaricom to its Mpesa users. Every registered Mpesa line is eligible for Fuliza facility. Fuliza is a Swahili word that translates to mean Doing something continuously, Doing something uninterrupted or Keeping doing something The concept behind Fuliza is to enable Mpesa subscribers to continue doing…
