MTN MoMo Uganda, in partnership with dfcu Bank and Letshego Uganda, has launched two new digital loan products aimed at giving more than 250,000 mobile money agents instant access to working capital.
The move addresses a longstanding liquidity challenge that has constrained agent operations for years.
The products, dfcu Bank Weekend Agent Loan and Letshego Agent Loan Float, have been added to the MoMo Agent Loans Marketplace, marking one of the most significant developments in Uganda’s digital financial services ecosystem in 2025.
The launch aligns with MTN’s “Power To Be More” campaign, reinforcing its mission to empower agents and improve service delivery to millions of mobile money users.
The loans are designed to solve a major operational bottleneck: agents frequently run out of float during peak periods, especially on weekends, forcing them to turn customers away.
With mobile money accounting for 66% of all financial access points in Uganda, and serving as the nearest financial service for six out of ten adults, maintaining uninterrupted agent liquidity is critical to sustaining digital commerce.
MTN MoMo Chief Product Officer Jemima Kariuki said the marketplace expands access to tailored credit options for agents.
“The launch of the MoMo marketplace marks a significant step in offering hyper-personalised financial solutions for agents by bringing together diverse lending products from partners such as dfcu Bank and Letshego.
“Each partner brings unique value, from seven-day term loans to weekend liquidity support, giving agents flexibility to choose products that suit their operational needs. This approach ensures agents, who are the backbone of financial services delivery, are better equipped to provide reliable deposits, withdrawals and customer education. Strengthening agent liquidity also enhances financial resilience within the communities they serve,” she said.
The dfcu Bank Weekend Agent Loan is a fully digital, collateral-free credit facility available from Friday at midnight to Sunday at 11:59 pm.
Agents can access it via USSD, borrowing between UGX 1 million and UGX 5 million. Funds are disbursed instantly into float wallets and are repayable within three days.
dfcu Bank Chief Executive Officer Charles Mudiwa said the loan reflects the realities of agent business cycles, noting that weekends are the busiest periods for mobile money agents but also the hardest time to access traditional bank financing.
He added that disciplined borrowers can revolve the loan multiple times over the weekend, potentially circulating up to UGX 100 million in working capital.
“Through this partnership, agents will have instant access to between UGX 1 million and UGX 5 million, exactly when business peaks,” Mudiwa said, adding that the product fits dfcu’s mission of transforming lives and businesses through practical financial solutions.
Ugandan enterprises urged to explore regional oil and gas opportunitiesThe Letshego Agent Loan Float extends support throughout the week. It allows agents to borrow between UGX 50,000 and UGX 5 million, with repayment periods of 7 or 14 days, at competitive rates.
Letshego Uganda Chief Executive Officer Giles Germany Aijukwe said demand during the three-month pilot phase was already strong, with Letshego disbursing nearly UGX 1 billion per day.
He described the product as essential working capital for small entrepreneurs. “With a simple USSD code, agents can now secure short-term float without collateral, keeping their businesses active and customers served without interruption. This is financial inclusion in action,” Aijukwe said.
The partnership demonstrates a new model of industry collaboration, leveraging MTN’s digital infrastructure, dfcu’s financial expertise and Letshego’s microfinance footprint to deliver responsive and scalable solutions.
Leaders from the three institutions described the collaboration as a strategic partnership built to serve the agents who power Uganda’s digital financial ecosystem.
MTN MoMo Uganda Managing Director Richard Yego said the marketplace responds to the central role agents play in a sector that processes over UGX 400 billion in transactions daily.
He said that instant, collateral-free digital borrowing will strengthen Uganda’s SME economy, which accounts for more than 70% of national economic activity.
Yego also emphasised responsible lending, noting that agents can only take one loan at a time to reduce over-indebtedness. Repayment discipline, he said, will determine access to higher limits and longer tenures.
Agents can access the dfcu Weekend Agent Loan by dialling *165*3*5# and the Letshego Agent Loan Float by dialling *165*5*2#. Both products provide instant, paperless disbursement without collateral.
The new loan products are expected to improve liquidity in the mobile money ecosystem, enhance agent earnings, reduce service disruptions and further entrench mobile money as the country’s leading driver of financial inclusion.
Aijukwe called the launch “a defining moment in Uganda’s financial ecosystem,” arguing that it unlocks new possibilities for tens of thousands of everyday entrepreneurs who are central to the digital economy.
As Uganda pushes toward deeper digital financial inclusion, the dfcu-MTN MoMo-Letshego partnership signals a shift toward collaborative, tech-enabled credit that meets the real needs of small business operators.
The partners said more products are already in development and will be introduced after reviewing the performance of the new loans over the next 90 days, positioning this launch as the start of a broader effort to empower agents and strengthen the backbone of Uganda’s digital finance landscape.
