Mpesa customers can now borrow instantly without saving with disbursement being to KCB M-PESA Account Loan Limits (Kshs.100 to Kshs.500,000 with a top up option). This was after a partnership between safaricom and kenya commercial bank. The advances will be charged an interest from two per cent per month, depending on the repayment period of 1,3 and 6 months.Customers will also be entitled to Personal accident insurance benefit based on savings.

Safaricom chief executive Bob Collymore said the partnership is part of the company’s plans to increase the impact of M-Pesa on the lives of Kenyans.“Mobile technology has greatly transformed our lifestyles” Mr Collymore said.