In Kenya, access to instant mobile loans continues to grow as more lenders offer services via USSD codes and SMS. One such service making rounds is the Fari Fari Loans USSD platform, which claims to provide fast mobile loans directly to your M-Pesa account.
This guide explains how Fari Fari Loans reportedly works, how to apply using the *517*77# code, important safety tips, and what you should know before borrowing from any unlicensed lender.
🏦 What Is Fari Fari Loans Kenya?
Fari Fari Loans is described as a mobile-based quick loan service in Kenya that allows borrowers to access funds through a USSD code (*517*77#). The platform claims to offer instant loans via M-Pesa without needing to download an app or visit a physical branch.
While details are limited, the service markets itself as a convenient and fast way for Kenyans to borrow money through their mobile phones.
📲 How To Apply For Fari Fari Loans via USSD Code
If you wish to try the Fari Fari Loans service, here’s the reported procedure:
- On your phone, dial *517*77#.
- Follow the on-screen prompts carefully.
- Provide any requested details such as your National ID number or M-Pesa number.
- Confirm your loan request and accept the terms.
- If approved, the loan is reportedly sent directly to your M-Pesa wallet.
⚠️ Note: This process has not been officially verified. Always confirm legitimacy before sharing personal or financial details.
💡 Why Many Kenyans Are Interested
Fari Fari Loans — like other SMS or USSD-based loan services — attract many borrowers because of their simplicity and accessibility:
- ✅ No smartphone or internet needed.
- ✅ Fast and direct M-Pesa disbursement.
- ✅ No paperwork or collateral required.
- ✅ Convenient for emergencies and small business needs.
However, such advantages should not override due diligence, especially when dealing with unlicensed online lenders.
⚠️ Important Warning: Verify Before You Borrow
The Central Bank of Kenya (CBK) has cautioned the public to be careful when engaging with online and mobile lenders that are not licensed. Here’s what you should do before applying for any loan through USSD or SMS:
- Confirm CBK Licensing
- Visit the CBK website and check the list of licensed digital credit providers.
- If Fari Fari Loans is not listed, it may be operating without a valid license.
- Check for Transparent Loan Terms
- A legitimate lender must disclose loan amounts, repayment period, and interest rates upfront.
- Hidden or unclear charges are a major red flag.
- Avoid Sharing Sensitive Information
- Be cautious about giving out your ID or mobile number to unknown platforms.
- Scammers can use your details for identity theft or SIM fraud.
- Watch Out for Fake Loan Messages
- Many Kenyans have received fraudulent SMS messages promising loans.
- Always verify USSD codes through official channels or your mobile network provider.
💸 Risks of Using Unlicensed Loan Services
Unverified loan services like Fari Fari Loans may expose users to serious risks, including:
- Hidden high-interest rates that trap you in debt.
- Abusive debt collection practices (harassing calls, threats, or public shaming).
- Data misuse, where your personal details are shared or sold.
- No legal recourse if disputes arise.
In contrast, licensed lenders like Tala, Branch, Timiza (Absa), and M-Shwari are regulated and offer clear repayment structures.
✅ Safer Alternatives to Fari Fari Loans
If you need a genuine and trusted mobile loan, consider these licensed and regulated apps in Kenya:
| Lender | Loan Range (Ksh) | Access Method | Interest Rate | Regulated by CBK |
|---|---|---|---|---|
| Tala | 1,000 – 50,000 | Mobile App | 0.3% per day | ✅ Yes |
| Branch | 1,000 – 300,000 | Mobile App | 2% per month | ✅ Yes |
| Timiza (Absa) | 1,000 – 150,000 | App / *848# | From 1.17% per month | ✅ Yes |
| KCB M-Pesa | 50 – 1,000,000 | M-Pesa Menu | From 1.16% per month | ✅ Yes |
These lenders are transparent, well-known, and regulated by CBK — making them safer options for borrowers.
🧠 Final Thoughts: Is Fari Fari Loans Legit or a Scam?
At the time of writing, Fari Fari Loans (*517*77#) has no verified listing under the Central Bank of Kenya’s licensed lenders. Therefore, the service’s legitimacy remains uncertain.
Until proper verification or official registration is made public, it’s advisable to avoid using unlicensed services that request personal information or claim instant cash approvals.
❓ Frequently Asked Questions (FAQs)
Q1. What is the Fari Fari Loans USSD code?
A: The service claims to operate using *517*77#, but this code has not been officially confirmed by CBK or mobile operators.
Q2. Can I receive M-Pesa loans instantly using Fari Fari Loans?
A: Some users claim so, but there’s no verifiable proof. Always use known, licensed lenders.
Q3. How can I verify if a lender is licensed in Kenya?
A: Visit the official CBK Licensed Digital Credit Providers List and search for the lender’s name.
Q4. What happens if I default on an unlicensed loan?
A: You risk harassment, inflated penalties, and exposure of your private information. Legal protection is minimal.
Q5. What should I do if I suspect a loan scam?
A: Report to your mobile network provider, CBK, or the Communications Authority of Kenya (CAK).
⚠️ Final Caution
Members of the public should exercise extreme caution when dealing with unlicensed online lenders or USSD loan services like Fari Fari Loans. Always verify before applying, and only borrow from trusted, CBK-approved lenders.