By Silvia Nyambura
MTN Uganda in partnership with Commercial Bank of Africa (CBA) has today launched ‘MoKash’ a micro savings and loans product available for customers on MTN Mobile Money. The new product will allow subscribers to save and take loans on short term basis. On this platform, no minimum balance is required, there are no account charges and one can borrow from a minimum of Ushs 3,000 up to a maximum of Ushs 1 million.
Speaking during the launch event held at The Kampala Serena Hotel this morning, MTN’s new CEO Wim Vanhelleputte said, “We believe that we are aiding financial inclusion and thereby will add substantial value to the development and social well-being of Ugandans across the country. With MoKash Ugandans can now securely save their money for future use in interest bearing savings accounts, or they can take advantage of access to micro loans.
