NAIROBI, Kenya — Airtel Kenya plans to launch its first mobile money overdraft service before the end of the year, marking its strongest challenge yet to Safaricom’s dominant Fuliza facility as the telecommunications company accelerates investment in digital financial services.
The planned product will provide Airtel Money users with an overdraft facility, becoming the first direct competitor to Safaricom’s widely used Fuliza service, which has benefited from the extensive reach of the M-Pesa ecosystem.
Airtel Money Kenya Acting Managing Director Michael Bonke said the overdraft product remains on track for launch before the close of the current quarter.
“More exciting products are coming. We had promised an overdraft solution and this will be coming towards the end of this quarter and more and more products are actually coming,” Bonke said.
The announcement comes as Airtel Money continues to expand its customer base, which has now surpassed six million subscribers.
Bonke said the company has also significantly increased its share of Kenya’s mobile money market, growing from about two per cent in recent years to approximately 11 per cent through sustained investment and expanded distribution.
“We keep investing into our business, growing our distribution. We are currently at 270,000 active agents and we keep doing partnerships with various banks and retail stores,” he said.
According to the latest data from the Communications Authority of Kenya, the country has 602,470 mobile money agents serving 53.4 million mobile money subscribers, underscoring the continued growth of digital financial services.
Airtel Kenya Managing Director Djibril Tobe attributed the company’s growth to continued investment in network infrastructure and customer experience.
“We have been growing consistently and steadily our market share over the few past years. This is as a result of enhanced investment in our network and the focus priority we have into meeting our customers’ satisfaction,” Tobe said.
SpaceX Partnership to Expand Network Coverage
Beyond financial services, Airtel Kenya announced plans to introduce Direct-to-Cell (DTC) connectivity through a partnership with SpaceX, subject to regulatory approval.
The technology will enable Airtel’s 4G and 5G customers to remain connected via SpaceX’s satellite network in locations where terrestrial Airtel coverage is unavailable, without requiring specialised devices.
According to Tobe, the company has already completed a successful pilot programme.
“We have already carried out a very successful pilot which proved that it is working and as soon as we get the approval from the regulator we will be able to offer this product to Kenyans who will now be reachable everywhere in the country,” he said.
The initiative is expected to improve connectivity in remote areas, border regions and other locations with limited mobile network coverage.
Hyperscale Data Centre Planned for Tatu City
Airtel Kenya also revealed plans to construct what it says will be the region’s largest hyperscale data centre to meet growing enterprise demand for data hosting and cloud services.
The facility, which will be located in Tatu City, is expected to become operational by July next year, strengthening Kenya’s digital infrastructure and supporting businesses requiring high-capacity data storage and computing services.
The announcements were made during the launch of Bizna Wallet, a dedicated digital wallet designed to help small and medium-sized enterprises manage business finances more efficiently.
