Reprieve For M-shwari Lonees As Safaricom, NCBA Defer Sanctions For Late Payments


Safaricom and the NCBA Group have deferred sanctions including rollover fees for late payment of M-shwari loans for 30 days, amid the coronavirus (covid-19) pandemic.

CRB listing of M-Shwari customers will also be suspended for the next 90 days.

Customers can also move any amount between M-PESA and M-Shwari at no additional cost and can save any amount on M-Shwari and earn interest of up to 6 per cent.

Read: Full List Of Those Exempted From The Curfew Set For March 27

“As coronavirus continues to stir global economic fears, NCBA will continue to support our customers who may be financially affected by the outbreak,” said John Gachora, Group Managing Director, NCBA.

“We are glad to leverage our longstanding partnership with NCBA to explore ways in which we can make life easier for our customers through our services,” said Sitoyo Lopokoiyit, Chief Financial Services Officer, Safaricom.

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