Fuliza powers Safaricom’s lending growth as disbursements hit Ksh1.47T
By Kenneth Mwenda, May 7, 2026Safaricom’s overdraft facility Fuliza strengthened its position as Kenya’s biggest digital lending product after disbursements rose sharply to Ksh1.47 trillion in the financial year ended March 2026.
The latest figures show Fuliza processed Ksh1.4658 trillion in loans during the year, up 49.3 per cent from Ksh981.6 billion recorded in FY2025. Repayments also climbed by 49.2 per cent to Ksh1.4873 trillion.
The repayment-to-disbursement ratio remained steady at 101.5 per cent, showing customers continued to repay their overdrafts despite the rapid growth in usage.
Safaricom also earned Ksh6 billion from the service, a 46 per cent increase from Ksh4.1 billion last year.
The biggest jump came from customer numbers. Distinct Fuliza users more than doubled to 17.7 million from 7.9 million, highlighting the growing dependence on short-term mobile credit across the country.
At the same time, the average loan size fell by 9.7 per cent to Ksh217.9 from Ksh241.2. The drop suggests more customers are using smaller overdrafts for daily spending, including transport, food purchases and business payments.
Fuliza allows M-Pesa users to complete transactions even when they do not have enough money in their accounts. Since its launch, the product has become a key financial tool for many households and small businesses.
Fuliza remained far ahead of Safaricom’s other lending products in both scale and revenue generation.
Rival products show mixed growth
M-Shwari disbursed Ksh95.1 billion during the year, slightly lower than the Ksh96.4 billion recorded previously. Revenue from the product fell 14.1 per cent to Ksh1.9 billion, while active users dropped to seven million.
KCB M-PESA recorded stronger growth, with disbursements rising 30.3 per cent to Ksh73.8 billion. Revenue increased to Ksh1 billion, while the average loan size rose to Ksh9,651.
Timiza, operated with Absa Bank Kenya, disbursed Ksh28.5 billion, up 9.7 per cent from the previous year. Revenue remained flat at about Ksh400 million.
Merchant overdraft products recorded mixed performance. Merchant OD disbursements declined by 6.9 per cent to Ksh42.6 billion, while customer numbers fell to 41,000.
Newer products posted modest growth from a low base. Pochi Term Loan disbursed Ksh800 million in its first reported year, while Merchant Term Loan rose to Ksh300 million.
The strong performance from Fuliza supported Safaricom’s wider FY2026 results. The company posted a net profit of Ksh99.7 billion, up 67.3 per cent year-on-year, while service revenue grew 11.1 per cent to Ksh414.1 billion.
Safaricom Chief Executive Officer Peter Ndegwa said the company continued to focus on accessible financial services.
“Safaricom has always been about purpose. It is why our business exists. We bring our purpose to life through accessible products and services,” he said.