•Ndegwa added that there will also be deductions in the daily maintenance fees for transactions above Sh1,000 up to a maximum of Sh70,000.
•He said the Fuliza access fee will be maintained at the current one per cent across all transactions.
Fuliza customers will enjoy free daily maintenance for the first three days, after borrowing money, for transactions below Sh1,000, Safaricom CEO Peter Ndegwa has said.
Ndegwa said the changes will affect 80 per cent of transactions made, pointing out that the number is proof that Fuliza is achieving its goal.
The changes will be effected on October 1.
He spoke on Wednesday during a meeting held to revamp Fuliza.
President William Ruto was present during the meeting.
"In addition, we are reducing the daily maintenance fee by 50 per cent for Fuliza transactions of Sh1,000 and below," he said.
Ndegwa added that there will also be deductions in the daily maintenance fees for transactions above Sh1,000 up to a maximum of Sh70,000.
He said the Fuliza access fee will be maintained at the current one per cent across all transactions.
"This establishes Fuliza as the most accessible and affordable credit facility at only one per cent of the transaction value, especially when customers repay within a relatively short period of time," Ndengwa added.
He said the changes lead to 50 per cent overall deductions in Fuliza tariffs.