Business
MoMo launches campaign to build borrowers' credit
Speaking to journalists on August 19 at Kalerwe Market in Kampala, MTN Mobile Money (MoMo) said it has launched a nationwide financial literacy campaign aimed at teaching MoMo customers how to borrow responsibly, repay on time and use digital credit as a genuine stepping stone.
Jemima Kariuki, Chief Product Officer MTN MoMo, engages one of the Kalerwe Market vendors on the benefits of responsible borrowing and consistent repayment.
By: Ali Twaha, Journalist @New Vision
KAMPALA - Access to credit has always been the missing piece for many Ugandans such as traders, farmers and small business owners who fall outside the reach of traditional commercial banks.
Speaking to journalists on August 19 at Kalerwe Market in Kampala, MTN Mobile Money (MoMo) said it has launched a nationwide financial literacy campaign aimed at teaching MoMo customers how to borrow responsibly, repay on time and use digital credit as a genuine stepping stone.
“We believe access to credit should unlock real value for the people and businesses we serve. Through MoMo Loans, customers can access quick and convenient credit to manage emergencies, meet everyday financial needs and pursue new opportunities,” Jemima Kariuki, chief product officer at MoMo, said.
She says customers who repay consistently can grow their borrowing limit and build a credit history that opens doors to future financing.
“We believe access to credit should unlock real value for the people and businesses we serve. Through MoMo Loans, customers can access quick and convenient credit to manage emergencies, meet everyday financial needs and pursue new opportunities,” Jemima Kariuki, chief product officer at MoMo, said.
She says customers who repay consistently can grow their borrowing limit and build a credit history that opens doors to future financing.
MTN partners with different commercial banks and financial technology platforms for its various micro-lending and savings services on the MTN MoMo.
The MoKash product has backed and powered by NCBA Bank, MoPesa is supported in partnership with KCB Bank, and XtraCash is backed by Pearl Bank.
Over the next few months, MTN says it will run the campaign across television, radio, digital platforms, social media and community activations, with practical tips on borrowing responsibly and repaying on time.
The MoKash product has backed and powered by NCBA Bank, MoPesa is supported in partnership with KCB Bank, and XtraCash is backed by Pearl Bank.
Over the next few months, MTN says it will run the campaign across television, radio, digital platforms, social media and community activations, with practical tips on borrowing responsibly and repaying on time.