Kenyans are set to enjoy cheaper Fuliza cost, during a meeting with KCB, NCBK and Safaricom which was attended by the president William Ruto, the head of stated told the central bank to remove almost 4 million Kenyans from blacklist by the beginning of November since they are having difficulties in paying the debt and this will enable them to borrow again credits.
Safaricom CEO Peter Ndegwa said all customers will be given a grace period of 3 days for transactions below 1000 ksh, this has lowered the daily charges on loans of between 1000 and 1500 to ksh 18 and ksh 20, those between 1500 and 2500 to ksh 20 from 25 and those between ksh2500 and ksh 70,000 to 25 from ksh.
“By beginning of November they will be out of blacklisting, very important because this four million Kenyans are limited from any form of borrowing because of blacklisting and they have been left at the mercy of lenders that exploit them and hence pay as much as a thousand percent,” the president William Ruto.
reducing the daily maintenance fee by 50% for Fuliza transaction of a thousand and below, customers will also enjoy reduction in maintenance fee above a thousand up to a maximum of thousand shillings,” CEO Safaricom Peter Ndegwa.
By Faith Njerwe