Fuliza

Just paid a fuliza overdraft of 10k, and i feel like i didn’t use the overdraft in the 1st place. I really wish hii kitu haingekuwa…

You DIDN’T use the overdraft or you FEEL like you didn’t??

Wacha nibaki na mshwari

Ofcourse i did. So, someone was to send me some old debt, hata kabla hawa wajinga waniambie…“Confirmed, you have recieved…” nimepata ya kusema wamekata pesa yao. hata vile nilikuwa nimesema nitanda kalocal kutoa hio pesa nuksi, nimeamua kutuliza miguu hapa kejani

Fuliza is just like those lame mobile Loan Apps that are getting people hooked like a drug, you are then left in a cycle of borrowing, paying back and then borrowing again and again in a never ending cycle. Its like a bank overdraft facility meant to be used as a last resort in case of an emergency need but people will always misuse it, and that’s how Safaricom will continue to mint even more billions from Kenyans.

This is funny. Deni ni kulipa my fren.

I think safcon have realized the lending apps are minting after all when you borrow from the apps you mpesa. Basically bila lube manenos…

Before you pay tala, branch bla bla safcon gets paid. Fanya hisabu.

Safaricom are quite smart. Fuliza is actually a “virtual” mobile loan that has jumped several loops (developing an app, registration, compliance legal issues, CBK manenos bla bla bla). They are also smart in that they are very careful not to label the product as a loan same way they did with MShwari. Interest is refereed to as “facility fee”, “access fee” or “maintenance fee”. This gives them room to avoid any legal complications and any war with existing loan products.

It’s a poor man’s credit card. In places like the US credit is king, I wonder why it took so long for them to realize that.

Not really…safaricom is going to lose some money. The other day I wanted to send money to my cousin who first warned me not to use his line but instead use another cousin’s. And hes not alone…a number of them borrowed on fuliza but can’t pay back…now the convenience of using mpesa on their lines has been withdrawn so now they have resorted to using one borrowed line…fuliza will slow down safaricom.

For a season. Like mshwari.

There are already people who are using 2 different M pesa lines registered under the same name to avoid Fuliza automatic reduction.

The rate of Kenyans defaulting on loans is very high. Just the other day, KCB Mpesa reviewed their mobile lending policy after high default rates and nowadays they don’t give out loans very easily.

That is very well, foolish! Bar talk. Take us through this. What ID are they using ? What mpesa line ? Are you also from randan?

It is possible to register a new sim card with a different number but using the same ID. Two different Safaricom numbers registered under the same ID. What part of that don’t you understand?

So you can fuliza with one number and shut it down and continue to enjoy mpesa with the other using same ID ? Is that about right?

Do you even understand how fuliza works?

Seriously?

Temporarily, yes. If you have used Fuliza on one line and you receive money on your second Safaricom sim card under a different number, the cash will not be deducted automatically. I’ve seen somebody do that.

I’m not talking about defaulting and having your sim card shut down. I’m talking about delaying the repayment for a few days (interest will accrue of course) by receiving money on another sim card.

In the long run, I don’t know how long somebody can keep that up. On a short-term basis, it can be done.

Operational term is “you have seen someone do that” ! Not you, someone else! So salon manenos Yes! You are here misleading talkers about something you can’t prove, yes?