Interest free loans for up to Kshs 100K from Safaricom and Faraja are here – but only for shopping


Shopping online or offline can be a hassle when you don’t have enough money to pay for what you want. You might have to wait until your next paycheck, borrow from a friend, or miss out on a great deal. But what if you could buy now and pay later, without any interest or fees? That’s the idea behind Faraja, a new service that allows customers to make purchases of between KSh. 20 and KSh. 100,000 on credit from businesses on Lipa Na M-PESA. Faraja is a partnership between Safaricom, the leading mobile network operator in Kenya, and EDOMx, a digital financial services company.

Faraja is simple and convenient to use. Customers can access the service at businesses that offer Faraja by dialling *799# to opt-in or make a payment, or by selecting the Faraja mini-app on the M-PESA Super App. Naivas outlets, Goodlife pharmacies, City Walk are amongst other merchants that already accept Lipa Na M-PESA.

Customers can also purchase multiple items simultaneously under Faraja as long as they are within their assigned credit limits. Customers have up to 30 days to complete the payment for their purchases, with no interest or fees charged. Customers can also track their credit balance and repayment history through the Faraja portal or app.

Faraja is a win-win solution for both customers and businesses. For customers, Faraja enables them to buy what they need or want at the point of sale, without worrying about cash flow or budget constraints. Faraja also helps customers build their credit history and access other financial services in the future.

For businesses, the line of credit will help them increase their sales and customer loyalty by offering a flexible and convenient payment option. Businesses on Faraja receive payment in full for a product or service immediately a customer makes a payment through the service. Businesses also benefit from Safaricom’s partnership with EDOMx, which provides them with credit facilities to enable them to receive payments instantly.

Faraja is more than just a buy now pay later service. It is a vision to empower customers and businesses in Kenya’s digital economy. According to Julian Kyula, CEO of EDOMx, Faraja aims to create a digital community that appreciates innovative products and services that enhance loyalty and customer focus.

“We begin with Kenya, but our eyes are on the global market because innovative concepts such as Faraja will go a long way in encouraging creativity in the digital financial sector to fulfil inclusivity goals and true sector deepening. There is no doubt the global digital financial frontier is shifting, and we believe that we have much to offer the world from our Kenyan digital innovation culture,” Kyula said.

Peter Ndegwa, CEO of Safaricom, echoed Kyula’s sentiments and said that Safaricom continues to innovate M-PESA to empower business owners with different tools and solutions to run their businesses better and faster grow their firms. “We are glad to partner with EDOMx to offer Faraja empowering any business to grow their sales by enabling their customers to buy now and pay later,” Ndegwa said.

The new development is a game-changer for Kenya’s digital economy. It is a service that not only makes shopping easier and more affordable for customers, but also helps businesses grow and thrive in the competitive market. With Faraja, customers and businesses can enjoy the best of both worlds: convenience and credit.

Read: GoK collaborates with Sama to boost Kenya’s digital economy


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