MTN Momo Uganda has introduced two new loan products in partnership with Dfcu Bank and Letshego Uganda offering mobile money agents quick access to working capital to ensure uninterrupted service for customers.
The new initiative targets agents who often struggle with maintaining enough float to meet customer demand during busy periods. Through the partnership, agents can now access short term, collateral free loans directly via USSD, allowing them to top up their float instantly whenever their cash reserves run low.
One of the products developed with dfcu Bank gives agents the option to borrow over weekends, a period when transaction volumes typically surge. The funds are deposited straight into their MoMo wallets and repaid within a few days enabling them to continue handling deposits and withdrawals without delays.
The second loan option offered in collaboration with Letshego is available throughout the week and provides flexible repayment periods. Agents can choose short repayment cycles depending on their business turnover, giving them room to manage their operations smoothly without the pressure of long term commitments.
MTN MoMo says the loans are designed to strengthen the country’s digital financial ecosystem by supporting the agents who keep mobile money services running daily across both urban and rural areas. The company believes the new credit facilities will help agents handle peak transactions, maintain consistent service and grow their businesses.