Fuliza loans from Safaricom have exceeded one trillion shillings for the first time in the year ending March 2026.
Data shows that 17.7 million Kenyans now rely on this quick loan service. It signals a major rise in the use of small-scale credit across the country.
Safaricom chief executive Peter Ndegwa noted that the service has become essential for many customers. The company continues to offer loans via mobile phones.
The report comes as many Kenyans seek easier financial options.
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Bank Indonesia Governor Perry Warjiyo emphasized the need to boost financial literacy amid rising digital risks like illegal online loans and scams. The statement was made at the AKSI KLIK event in Jakarta on March 6, 2026. Coordinating Minister Airlangga Hartarto also announced the formation of the National Financial Welfare Council to support public financial well-being.
The World Bank has outlined three regulatory conditions Kenya must meet by June 30 to secure a Ksh96.9 billion budget support loan. The funds will support salaries and daily government operations. The requirements follow Kenya's request for aid amid fuel supply disruptions and external shocks from the Middle East conflict.
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Hustler Fund Chief Executive Henry Tanui has revealed that the government will use national ID records to track borrowers who default on loans. This follows concerns over Ksh12 billion in unpaid loans since the fund's launch in November 2022. Tanui appeared before the National Assembly Special Funds Accounts Committee on March 5, 2026.
Kenyan opposition leaders have urged Parliament to reject the Ministry of Finance's Infrastructure Bill, 2026 and halt the plan to sell government shares in Safaricom. They argue that the proposals threaten constitutional safeguards for public funds and strategic assets. They also call for an independent review and thorough assessment of assets before any action.
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The Cabinet has approved a massive Ksh4.7 trillion budget for the 2026/27 financial year, a significant rise from the previous year's allocation. This plan shifts focus to scaled-up investments across sectors to drive economic growth. The government expects to collect Ksh3.53 trillion in revenues against Ksh4.7 trillion in spending.
Awash Bank has reported an “extraordinary performance” in the 2024/25 financial year amid a sharp monetary reset. Deposits grew to 358.4 billion birr by June 30, 2025, marking a 54 percent increase from the previous year. For the first time, the bank generated more than two billion dollars in foreign exchange.
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Egypt's fintech firm Lucky has raised $23m in a Series B round blending equity and debt to accelerate its push into North Africa's consumer credit market. The funding came from Disruptech Ventures and DPI Venture Capital through the Nclude fund, plus new strategic backers including Suez Canal Bank and OneStop. Tech.