With MoFlex, MoMo users can now access microloans tailored to their unique needs. This innovative service offers customers the freedom to choose repayment periods that suit their financial situations.
MoFlex users can request loans ranging from Rwf 1,000 to more than Rwf 1,000,000, with transparent and competitive interest rates from 7% to 14%, tailored to their chosen repayment period. Customers can choose to pay between 7, 14, and 30 days. This ensures both affordability and clarity for all users.
Accessing a MoFlex loan is fast and hassle-free. Customers can dial 1825*4#, follow the prompts, and receive funds directly into their MoMo accounts within minutes.
Speaking at the launch, Chantal Kagame, CEO of Mobile Money Rwanda Ltd, shared: “We are delighted to introduce MoFlex as part of our ongoing commitment to fostering financial inclusion in Rwanda.
“This product is designed to address the evolving needs of our customers, providing not only access to funds but also the flexibility to manage their finances effectively. At MoMo, we are dedicated to delivering solutions that truly come from the heart – ‘BivaMoMotima.’”
On the launch of MoFlex, Puneet Chopra, Chief Growth Officer at Yabx, highlighted that it combines flexible loan options with instant digital access, enabling customers to borrow and repay in a way that fits their financial needs.
“Behind this simple experience is a sophisticated digital lending infrastructure that brings together real-time data analytics, credit decisioning, and deep ecosystem integration. Through our partnership with Mobile Money Rwanda and Ecobank, we are creating a scalable model that has the potential to extend responsible access to credit across Rwanda’s large and growing base of MoMo users,” he said.
Carine Umutoni, Managing Director, Ecobank Rwanda Plc, also explained how the bank attaches great relevance to helping individuals access credit, as a powerful catalyst for economic empowerment in Rwanda, particularly for underserved communities who often face barriers to formal financing.
“Through our partnership with Mobile Money Rwanda Ltd and YABX, MoFlex provides customers with convenient and responsible access to short-term financing directly through their mobile phones. This collaboration reflects our commitment to leveraging digital innovation to expand financial inclusion and deliver practical financial solutions that support everyday needs and small businesses across Rwanda,” she noted.
Empowering communities
MoFlex represents MoMo Rwanda’s unwavering dedication to leveraging digital innovation to transform lives and empower communities across the country. By offering accessible and user-friendly financial services, MoMo continues to lead the charge toward achieving a fully cashless economy in Rwanda.
Mobile Money Rwanda Ltd is MTN Rwanda’s FinTech subsidiary, established on 27th April 2021 to provide and manage Mobile Money services in Rwanda. The company has about 5.1 million subscribers, over 65,000 Mobile Money agents, and over 500,000 MoMoPay merchants across the country.
With continuous innovations in services such as MoMoPay, MoKash Loans & Savings, Tap&Go bus payments, Bill Payments, and International & Regional Remittances, Mobile Money Rwanda is positioning itself at the forefront of driving financial inclusion and supporting the digital economy in Rwanda.
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