Kenyans Borrow Over Ksh 1.4 Trillion Through Fuliza as Users Rise to 17.7 Million

More Kenyans are turning to Fuliza, Safaricom’s overdraft service, to meet their daily financial needs, with the latest data showing customers borrowed more than Ksh 1.4 trillion in the last financial year.

According to Safaricom PLC’s audited results for the year ended March 31, 2026, the number of people using Fuliza more than doubled to 17.7 million customers, up from 7.9 million recorded the previous year.

During the period, Kenyans borrowed Ksh 1.47 trillion through the service, marking a 49.3% increase from the Ksh 981.6 billion borrowed in the previous financial year.

Despite the sharp rise in borrowing, the average amount borrowed per transaction dropped by 9.7% to Ksh 217.9, showing that many customers are taking smaller loans mainly to cover short-term needs.

The results also showed strong repayment levels among users. Total repayments reached Ksh 1.49 trillion, translating to a repayment rate of 101.5%.

Due to the increased use of the service, revenue generated from Fuliza rose by 46% to Ksh 6 billion.

What is Fuliza?

Fuliza is an overdraft facility that allows M-PESA users to complete transactions even when they do not have enough money in their accounts.

The service is offered through a partnership between Safaricom and Kenyan banks, including NCBA Bank, KCB Bank, and Sidian Bank.

Customers who opt into the service are given borrowing limits depending on their credit score and how long they have been using M-PESA. Users are charged a one-time access fee and daily maintenance fees on unpaid balances.

Also Read: Safaricom Announces Record Ksh 80.13 Billion Dividend Payout

Safaricom Records Strong Profit Growth

The Fuliza growth came as Safaricom posted strong financial results across its Kenyan and Ethiopian businesses.

Safaricom Kenya’s net income increased by 24.7% to Ksh 119.1 billion during the financial year.

At the group level, profit rose to Ksh 73.68 billion from Ksh 45.76 billion recorded the previous year, while operating profit grew by 40.6% to Ksh 146.32 billion.

The company also announced a higher dividend payout to shareholders.

Also Read: Safaricom Issues Fresh Directive to Customers Over My OneApp Following Massive Complaints

Payment of Dividend

Safaricom paid an interim dividend of Ksh 0.85 per share, amounting to Ksh 34.06 billion, and proposed a final dividend of Ksh 1.15 per share, worth Ksh 46.08 billion.

This brings the total dividend for the year to Ksh 2 per share, totalling Ksh 80.13 billion, compared to KSh 1.20 per share paid in the previous financial year.

The final dividend will be subject to shareholder approval during the company’s Annual General Meeting scheduled for July 31, 2026, and is expected to be paid in September.

M-PESA and Ethiopia Drive Growth

M-PESA continued to be one of Safaricom’s biggest revenue drivers, with revenue from the mobile money platform rising by 13.4% to Ksh 182.74 billion.

Group service revenue also grew by 11.5% to Ksh 414.14 billion, while the total number of active customers increased by 14.2% to 50.66 million.

Safaricom’s Ethiopian business also continued to expand rapidly, with service revenue jumping by 86.6% to Ksh 14.08 billion as active customers grew to 10.75 million.

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