Kenyans have expressed concern about low or zero M-Shwari limits, despite their efforts to save and use M-Pesa and other Safaricom services.
An M-Pesa consumer resorted to social media to complain about having no M-Shwari limit despite his efforts to deposit money into a savings account.
The consumer claimed that he met all of the standards set forth, by the main telecoms company but did not qualify for an M-Shwari loan.
The customer asked the telco why his loan limit was still zero. “Safaricom, you are unfair. I’ve been using M-Shwari for as long as I can remember, saving, but my loan limit remains zero… quit being cruel.”
The consumer stated in the telco’s Facebook post comments area. What Safaricom said about the M-Shwari loan review.
The telecom confirmed that it does not have the authority to review M-Shwari loan restrictions. Safaricom reiterated that loan qualifying and amount are solely at the discretion of NCBA Bank, which also determines other variables such as M-Shwari account savings.
According to the telecom, additional elements that remain important in determining the M-Shwari loan include timely repayment of other loans, credit score, and savings traced through M-Shwari and other financial institutions.
“The loan limit is subject to the bank’s (NCBA) discretion. Aside from utilizing your Safaricom SIM card, other elements remain in play,” Safaricom stated.
Safaricom explained to TUKO.co.ke that customers, including Okoa Jahazi, should make regular deposits into their M-Shwari savings accounts and repay loans on time.
The telco advised its customers to use their SIM cards for phone and broadband services, repay debts on time, and frequently use M-Pesa.
“The system automatically reviews loan limits, which are at the bank’s discretion. This is dependent on how frequently you have been saving, repaying your debts (including Okoa Jahazi) on time, and utilizing other Safaricom services including as voice, data, and M-Pesa,” the telecom stated.
By tuko