Safaricom has explained why a customer can be listed on CRB for defaulting loan on its M-Pesa overdraft Fuliza.
In an interview with a local daily, the telco said that a Fuliza defaulter can be listed on CRB if their M-Pesa line is active and carrying out transactions.
“Safaricom can list someone on CRB over a Fuliza loan when the M-Pesa line is active and carrying out transactions. This is possible when the loan in question was defaulted,” Safaricom told Tuko.
The telco further revealed that the Fuliza limit awarded to customers is determined by various factors, including a customer’s Credit Reference Bureau (CRB) status, savings (in M-Shwari and KCB-M-Pesa), and repayment of loans on time.
Recently a Facebook user took to social media to complain over Safaricom’s move to list him on CRB over a Fuliza loan.
The netizen argued that his M-Pesa line is active and he uses it to carry out transactions, yet the telco does not deduct the overdraft amount.
Why you are not eligible for M-Shwari loan despite being long-time Safaricom subscriber
“Safaricom PLC… You sent me to CRB due to a Fuliza M-Pesa loan overdue for the mobile number that I use in my daily transactions. Why don’t you deduct your money from it? How can you opt my number out with a running loan and blacklist me? Am tired of making many calls without any assistance. Reach out through a phone call using the number in your inbox. All other attempts of trying to make payments have failed. Take your money directly from my M-Pesa account,” read the man’s complaints in part.
Fuliza is a popular service by Safaricom that allows M-PESA users to complete transactions even when they have insufficient funds in their M-PESA account.
Safaricom data shows that at least Sh2.3 billion was borrowed on the overdraft product every day in the year ended March 31, 2024.
