Safaricom company one of the biggest tel industry has announced that all M-Shwari late payment sanctions including rollover fees will not be effected , beginning next one month, the COUNTY DIARY has learnt.
Safaricom said the rollover fees usually applied to accounts that delay repaying their monthly loans shall be delayed by 30 days.
The company has also said the widespread listing with the Credit Reference Bureau (CRB) for all the M-Shwari customers will be discontinued for the next 90 days.
The leading mobile money service platform Mpesa will offer instant loans to its customers in collaboration with the NCBA Bank.
President Uhuru Kenyatta in his address to the nation on Wednesday said Kenyans who shall have not paid their outstanding loans won’t be listed by CRB.
He directed for the “temporary suspension of the listing with Credit Reference Bureaus of any person, Micro, Small and Medium Enterprises (MSMES) and corporate entities whose loan account falls overdue or is in arrears, effective 1st April 2020.”
The new move by Safaricom comes as an addition to the earlier decision by Safaricom waiving transactions fees for person to person M-pesa transactions below kshs1,000.