BAD NEWS TO THOSE WHO USES SAFARICOM MSHWARI

Safaricom can arguably be said to be the most used Mobile network provider in kenya.

The convenience of the service comes in due to the large and widespread popularity of M-Pesa, which allows a person to send and receive money electronically. This is extended to transacting from bank to M-Pesa, a service I feel really comfortable and secure using.

Safaricom is however more loved because of the mobile money lending service it offers.

In conjunction with KCB bank, Safaricom, through its MPESA tab, allows users the opportunity to borrow a loan in two ways, one through MShwari and the other Through KCB MPESA menues.

However, Kenyans started their weekend with bad News following an announcement by both MShwari, KCB MPESA and Vooma loaning services. These services are all facilitated by KCB bank.

Of interest in this article is MShwari service which announced an upsurge of its interest rate from 7.5% to 20%

The changes are effective as from first July, 2021.

This comes as bad News since Kenyans will have to pay more for loans taken from MShwari.

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