Safaricom and Commercial Bank of Africa’s M-Shwari Service Restored

Safaricom and Commercial Bank of Africa’s (CBA) virtual banking platform M-Shwari has been restored.

“We wish to advise that all M-Shwari service has now been fully restored following an outage which led to customers being unable to access services,” said Isaac Awuonda, Group Managing Director CBA.

The outage was witnessed from 10pm on Sunday 24 December.

“We have since resolved the technical issues and the M-shwari customers are now able to transact normally,” he added.

This month, M-shwari marked its fifth anniversary, at an event in which CBA and Safaricom announced product enhancements geared at deepening financial inclusion further, and reward customers for their loyalty.

As at March this year, registered customers of the platform stood at 18.33 million compared to 13.99 million in the same period last year.

M-Shwari charges a one-off facility fee of 7.5 per cent on the loan.

M-Shwari is a suite of banking products that are offered to M-PESA customers via their handset to enhance the M-PESA value proposition. With M-Shwari, one has access to Deposit and Loan products that are convenient, reliable and cost-effective for making micro-savings and taking micro-loans.