Covid-19 became a toll on almost every Kenyan due to the loss of jobs and many other restrictive practices. During the period many Kenyans were found in great debts and mostly are the online lenders.
Fuliza the new debt lending regime was reported to have been used daily in transactions running in trillions of shillings.
With this and up to date, many Kenyans are surviving and many have even made it into a business.
However, for the telecommunication company Safaricom, it has come up with more strict conditions which shortly are going to affect many people using the service.
Unlike before when the amount used for the repayment of fuliza depended on the amount coming into your phone, this time around money from M-Shwari and KCB-Mpesa is going to be used for settling the defaulted FULIZA loan.
This is going to force many individuals who depended on the service to shift if the conditions become unbearable. However, the telecommunication company has defended its move saying it will reduce debt value.