Safaricom, Kenya’s largest telecom operator, is pushing deeper into fintech with two new loan products for small businesses in the country.
Fuliza Biashara and Taasi Till: The telecom company has launched Fuliza Biashara, an overdraft facility, and Taasi Till, a short-term loan, offering credit of up to $3,089 (KES 400,000) directly through its mobile money app, M-PESA. It’s a move that reflects not just Safaricom’s growth strategy, but a wider shift in how Africa’s most influential telcos are positioning themselves in financial services.
For Kenya’s 7.4 million small and medium-sized enterprises (SMEs)—many of which are informal and often excluded from traditional bank loans—Safaricom’s new product could be a game-changer.
The products,designed for merchants, have repayments tied to actual cash inflows—an innovation aimed at easing pressure during slow periods. Disbursement is instant, fully digital, and requires no paperwork.
Here’s why it matters: M-PESA already serves over 40 million users and handles $11.6 billion in transactions each month. Now, Safaricom is betting that small businesses will drive its next wave of growth as voice and data revenues plateau. Financial services contributed 44% of Safaricom’s $2.8 billion in service revenue last year, with Fuliza alone averaging daily disbursements of $19.3 million.
ICYMI: Safaricom has rolled out a full suite of financial services—from M-PESA for mobile money, to Fuliza overdrafts, M-Shwari savings and loans, and Ziidi, which replaced Mali as its money market fund in 2024—cementing its place as a leading fintech player.
But it’s not without risks. Kenya’s digital lending boom has sparked concerns about debt burdens and consumer protection. Still, backed by bank partners like KCB and Pezesha, and under the watchful eye of regulators, Safaricom appears confident it can balance access with responsibility.
While the competition from startups like Tala and Branch intensifies, Safaricom’s unmatched reach gives it a strong foothold. The real question now: can it use that reach to fuel Kenya’s SME economy—and its own reinvention?
