Kampala, February 7, 2022: Airtel Mobile Commerce Uganda limited, the provider of an affordable and secure Airtel money platform, has partnered with Uganda Housing Finance Bank and digital lending platform provider YABX to enable Airtel Money customers to access quick loans when they do not have enough funds in their wallet.
This is the latest service offered by Airtel Money to provide financial access to customer needs.
AMCUL customers with low balances will be able to conduct transactions that include sending money to loved ones, buying airtime and packages, paying for goods and services at Airtel Pay Merchants, buying utilities like yaka, and many more.
To access the Quick Loans service, Airtel money customers can dial *185*7*10# to register and check their eligibility.
This partnership is part of Airtel Mobile Commerce Uganda Limited and Housing Finance Bank’s strategy to boost financial and digital inclusion through the provision of simple, secure and easy-to-use financial services products that offer the best value. to customers.
Ready fast joins a list of affordable products offered by Airtel Money in the Airtel Africa financial inclusion and transformation program.
Director of Airtel Mobile Commerce Uganda Limited, Mr. Manoj Murali commented: “We are delighted to partner with Housing Finance Bank and YABX to create a product that breaks down barriers to accessing affordable credit for our customers.
A ready fast can make the difference between a farmer buying medicine to save his cow, a mother lighting up her house for the children to do their homework or buying the insulin needed to save someone’s life. We are committed to filling these intermediate gaps for our customers. »
Airtel Money Group Chief Operating Officer, Mr. Japhet Aritho commented“Making Airtel Money a one stop shop for financial solutions is our goal for our customers.
By meeting their daily needs, we see this as an important step in empowering and financially transforming the lives of our clients.
We look forward to leveraging our partnership with Housing Finance Bank Uganda and YABX to include as many people in the financial ecosystem and transform their lives.”
Housing Finance Bank Managing Director Michael K. Mugabi remarked, “We are delighted with the value-added services we offer in partnership with Airtel and YABX.
This is a demonstration of our commitment to continuous innovation not only for our account holders but also for our customers’ customers (in this case, Airtel Uganda).
It is important for us to remain proactive while offering solutions that correspond to the needs of customers in our ecosystems. »
Our goal as a bank is to enable home ownership and provide financial independence to Ugandans, we are extremely excited to have this product move us forward in that quest.
We thank you Airtel Uganda and Yabx for the cordial working relationship we have enjoyed in the development of this product. May this be part of a long and fruitful mutually beneficial relationship for our businesses.
Eunice Ruguru Gatama, Director of African Affairs at YABX said: “We at YABX are delighted to be working with Airtel Uganda and Housing Finance Bank to provide QuickLoan.
Using YABX, a fintech company in digital lending technology, the partnership aims to improve customers’ digital credit profiling to enable the unbanked population to access credit.
Today, a quarter of the world’s population still lacks access to financial products such as loans, savings and insurance due to limited or no financial footprints. This partnership will change that.
HOW CUSTOMERS ACCESS THE LOAN
Airtel money customers can dial *185*7*10# to register for the service. To take out a loan, a customer will normally transact with Airtel cash and will be asked to take out a loan if they do not have sufficient funds to complete that transaction. Customers can borrow multiple times until they exhaust their limit and have 15 days to repay.