Safaricom has today unveiled revamped business credit solutions, including Fuliza Biashara, Taasi Till, and Taasi Pochi. The telco is doubling down on its commitment to financial inclusion and easing the credit crunch faced by thousands of Kenyan businesses. We’ve come a long way from the days when credit was a preserve of the salaried few or the well-connected.
With Fuliza Biashara, Lipa na M-PESA merchants will have access to overdrafts that range from Ksh 1,000 to Ksh 400,000. For a business, this is a good amount. Repayments are automatically deducted based on till inflows. This reduces pressure on businesses that operate in unpredictable cash flow environments.
On the other hand, Taasi Till, is a term loan product offering credit from Ksh 1,500 to Ksh 250,000 with 14- to 30-day repayment periods. Not a bad offering for business owners. For those using Pochi la Biashara, Taasi Pochi offers a similar credit facility straight into the Pochi wallet and is accessible through the M-PESA App or USSD *334*8#.
To be eligible, you need to have had your till or Pochi wallet active for at least six months. Funds are sent directly to your M-PESA wallet once approved.
Access to credit remains one of the biggest hurdles for Kenyan businesses, especially those in the informal economy. Many banks are still hesitant to lend to small traders without collateral, credit history, or formal registration. This is despite MSMEs accounting for over 90% of all businesses in Kenya and contributing about 33% of the GDP, according to the United Nations.
By working with financial institutions to underwrite these products, Safaricom is unlocking real capital for people who’ve long been left out of traditional lending models. M-PESA has over 600,000 merchants and touches virtually every corner of the country. By including credit into platforms that businesses already use daily, they’re meeting entrepreneurs where they are.
Dr. Peter Ndegwa, Safaricom CEO, put it aptly: “Businesses play a pivotal role in Kenya’s economy and make a significant impact in our communities. Leveraging the power of technology, Taasi will offer convenience and access to credit for MSMEs, allowing them to focus on scaling their businesses.”
More importantly, this move sends a signal to other players in the ecosystem, including banks, fintechs, and government stakeholders, that digital credit for MSMEs must evolve.
To entrepreneurs operating under the weight of inconsistent cash flows and seasonal sales, this could be a lifeline. Not just for keeping stock on shelves or paying rent on time, but for dreaming bigger.
Also Read: What You Need to Know About Safaricom’s Maisha Poa Ni Digital Campaign
