Diamond Trust Bank (DTB) and Credable Group have entered a partnership through which Ugandans will be able to borrow microloans via Airtel Money. The service dubbed, ‘Kwasa Kwasa,’ provides Airtel Money customers with quick, affordable short-term loans, designed to meet their personal and business needs conveniently via their mobile phones. Officials said the initiative aims to bridge significant financial access gaps, particularly for underserved Ugandans in rural areas and informal savings groups. Airtel Money subscribers can now borrow amounts ranging from UGX 5,000 without the need for collateral, using Airtel’s USSD code 1858*3# and via the MyAirtelApp. At the signing ceremony, DTB Uganda’s Chief Executive Officer, Godfrey Sebaana, shared his enthusiasm for the Kwasa Kwasa initiative, emphasizing its alignment with Uganda’s financial inclusion goals. “We are optimistic that Kwasa Kwasa will help us realize our vision of empowering people to advance confidently. At a micro-level, we’re enabling anyone to solve immediate needs conveniently and affordably,†he stated. Airtel Mobile Commerce Uganda’s Managing Director, Japhet Aritho, echoed Sebaana’s sentiments. He highlighted Airtel Money’s commitment to expanding credit access for Ugandans, particularly those typically excluded from traditional banking. “At Airtel Money, we are dedicated to building strong partnerships that provide greater credit access to our customers, many of whom wouldn’t be banked traditionally. We welcome DTB and Credable for joining us on this journey, bringing financial services into the hands of millions through our USSD 185.†Credable Uganda’s Country Lead Simon Asiimwe, underscored the partners’ shared commitment to delivering a smooth, reliable user experience. “Kwasa Kwasa is more than just a loan; it’s a tool for empowerment. We’re focused on ensuring every Kwasa Kwasa customer enjoys a fast, dependable, and exceptional experience,†Asiimwe affirmed. To qualify for Kwasa Kwasa, customers need only an active Airtel SIM card, Airtel Money registration, and a valid National Identification Number (NIN). With this simplified eligibility, DTB, Airtel Money, and Credable Group are set to empower more Ugandans to manage their finances effectively and plan for a more secure future. Several Ugandan banks are already in the micro-lending the fray, which has not only brought financial services closer to Uganda’s underserved populations but has also reinforced Uganda’s vision of inclusive economic growth.
