Japhet Aritho, managing director of Airtel Mobile, Godfrey Sebaana CEO DTB Display copies of the signed deal before reporters.
Airtel Money, DTB Bank, and Credable have partnered to introduce the ‘Kwasa Kwasa Micro Loans’ product, a groundbreaking financial service enabling individuals to access loans without collateral.
Designed to serve individuals and small businesses often excluded by traditional banking systems, particularly in rural areas and informal sectors, Kwasa Kwasa offers a convenient and affordable financial solution for daily personal and business needs.
Key Features:
– Loans as low as UGX 5,000
– Accessible via Airtel’s USSD code _185_3# or MyAirtel App
– 30-day repayment period with 9% interest rate
– Flexibility for rollover
– No collateral required
Eligibility Criteria:
– Active Airtel SIM card
– Registered for Airtel Money
– Valid National Identification Number (NIN)
DTB Bank CEO, Godfrey Sebaana, revealed that a seven-month pilot disbursed Shs32 billion to 500,000 clients, achieving a remarkable 64% monthly repayment rate.
“We’re excited to launch Kwasa Kwasa Micro Loans, providing Ugandans with easy access to financial services. We encourage our customers to embrace this product and take control of their finances,” Sebaana said.
About Kwasa Kwasa Micro Loans:
Kwasa Kwasa Micro Loans aims to bridge financial inclusion gaps, empowering individuals and small businesses to manage their finances and plan for their future.
Leave a Reply