MTN Mobile Money (MoMo) Uganda, in partnership with dfcu Bank and Letshego Uganda, has introduced two new digital loan products designed to provide mobile money agents with instant, collateral-free working capital. The initiative expands the MoMo Agent Loans Marketplace and supports MTN’s “Power To Be More” campaign, which aims to strengthen financial resilience among the network’s 232,000 agents.

The two products, the dfcu Bank Weekend Agent Loan and the Letshego Agent Loan Float, address liquidity challenges faced by agents during peak transaction periods, ensuring uninterrupted service delivery to customers across the country.

The dfcu Bank Weekend Agent Loan allows agents to access short-term credit between UGX 1 million and UGX 5 million, available from Friday 00:00 to Sunday 23:59. Funds are disbursed instantly and must be repaid within three days. “Our solution is a weekend agent loan because we know at weekends that’s when people are demanding money,” said dfcu Bank CEO Charles Mudiwa. “dfcu’s partnership with MTN MoMo is to give you a weekend loan between 1 million and 5 million shillings. There’s no collateral required; you just get the money and pay back within three days.”

Complementing this, the Letshego Agent Loan Float provides short-term financing throughout the week, with loans ranging from UGX 50,000 to UGX 5 million, repayable over seven or 14 days via USSD 165*5*2#. “With a simple USSD code, agents can now secure short-term float without collateral, keeping their businesses active and customers served without interruption. Together with MTN, we are enabling agents to grow, earn more, and deliver better service in their communities,” said Letshego Uganda CEO Giles Germany Aijukwe.

MTN MoMo Uganda Chief Product Officer Jemima Kariuki emphasized the importance of the initiative in enhancing financial inclusion: “As MTN MoMo, we are committed to strengthening financial inclusion across the communities we serve. Together with dfcu Bank and Letshego Uganda, we have partnered to introduce innovative loan products that supplement our agents’ liquidity and provide convenient access to funds beyond traditional banking hours. These solutions will enable our agents to deliver seamless digital transactions and payments across Uganda, giving them the Power to Do More.”

Mudiwa noted that providing access to credit is vital for economic growth, particularly given Uganda’s low savings ratio. “One of the biggest instruments people are asking for is credit, and it’s such an important part of our economic development,” he said. “By providing credit facilities, we are taking one extra step to monetize the economy and grow the savings base of Uganda. This is proper transformation because we’re making a difference to the people that we serve.”

The new loans are part of a broader effort to support Uganda’s digital economy, which sees MTN MoMo process over UGX 400 billion in transactions daily. By offering instant, flexible, and collateral-free loans, MTN, dfcu Bank, and Letshego are enabling mobile money agents to maintain sufficient float, grow their incomes, and contribute to the country’s financial inclusion and digital transformation agenda.