Designed with young Rwandans in mind, Shuga offers a quick and convenient way to access short-term credit without visiting a bank, filling out paperwork or providing physical collateral.
Whether it’s an unexpected bill, an urgent expense or simply making ends meet before a salary arrives, Shuga gives customers access to money when they need it.
The service was officially unveiled on Saturday, October 17, 2026, during a CAF Confederation Cup fixture at Amahoro Stadium, between Rayon Sports FC of Rwanda and Mozambique’s Black Bulls FC.
Borrow what you need, when you need it
With Shuga, eligible customers can borrow from as little as Rwf 500 up to Rwf 1 million, depending on their individual credit limits, and choose from repayment periods of 7, 14 or 30 days, subject to eligibility.
Customers simply dial *182*5*5#, follow the prompts, check their available credit limit and apply for a loan. Once approved, the full amount is deposited directly into their MoMo wallet.
Speaking at the launch, Chantal U. Kagame, Chief Executive Officer of MoMo Rwanda, said:
“We know that for many young Rwandans, financial needs don’t always wait for payday. Whether you’re starting your career, managing your first salary or dealing with an unexpected expense, having access to quick credit can make a real difference.
“With Shuga, we’re making borrowing simpler, faster and more accessible. We want our customers to have the dignity of accessing credit when they need it, directly from their phones, while encouraging responsible borrowing.”
Reflecting on the bank’s role in the partnership, Dr. Diane Karusisi, Chief Executive Officer of Bank of Kigali, said:
“At Bank of Kigali, we believe access to credit should not depend on where you live, what you own or whether you have time to visit a branch. Many young Rwandans are working, building businesses and planning their futures, yet formal credit has often felt out of reach. Shuga changes that by putting a trusted, regulated loan in their pocket within minutes.
“This partnership brings together the reach of MoMo, the technology of Yabx and Bank of Kigali’s lending experience to give customers credit that is fast and also fair, transparent and responsible. Each loan repaid on time also helps customers build a credit history, which can open the way to larger opportunities later on. We are proud to launch Shuga alongside our partners, and here at Amahoro, in front of the fans who are the very generation it is built for.”
Puneet Chopra, Chief Growth Officer, Yabx Technologies, said:
“At Yabx, we believe the true potential of digital lending lies in understanding customers better and making credit relevant to their diverse and evolving financial needs. By bringing together advanced analytics, intelligent risk management and deep lending expertise, we help our partners deliver credit solutions that are accessible, responsible and sustainable.
“The launch of Shuga marks an important milestone in our partnership with MoMo Rwanda and Bank of Kigali. Together, we are combining our complementary strengths to deliver a compelling credit proposition to Rwandan customers and create new opportunities for innovation and growth in the country’s digital financial ecosystem.”
Simple, convenient and transparent
Shuga offers customers:
• Quick access: Apply directly from your phone without paperwork or visiting a bank.
• Flexible borrowing: Access between Rwf500 and Rwf1 million, subject to your credit limit.
• Repayment options: Choose an available 7-, 14- or 30-day loan.
• Direct disbursement: Receive the full loan amount in your MoMo wallet.
• Easy repayment: Repay directly from your phone, including before the due date.
A one-time facility fee of 7%, 8% or 9% applies to loans of 7, 14 or 30 days, respectively.
For example, a customer borrowing Rwf 10,000 for 30 days receives the full Rwf 10,000 and repays Rwf 10,900.
Late repayments attract additional charges and may affect future borrowing eligibility and credit history.
Expanding financial inclusion
Shuga brings together MoMo Rwanda’s extensive mobile money network, Bank of Kigali’s banking expertise and Yabx Technologies’ advanced credit scoring, risk management and digital lending capabilities to make formal credit more accessible to Rwandans.
How to access Shuga
To get started, dial *182*5*5#, follow the prompts, check your available loan limit and select your preferred loan amount and repayment period.
Eligibility and borrowing limits depend on factors including customers’ usage of MTN voice, data and MoMo services, their history on the network and their repayment performance.
Loan terms, fees and eligibility criteria apply.
For more information, visit www.mtn.co.rw/momo or contact MoMo Rwanda Customer Care.
Mobile Money Rwanda Ltd is MTN Rwanda’s FinTech subsidiary, established in April 2021. With approximately 6.4 million subscribers, over 65,000 agents and more than 600,000 MoMoPay merchants, the company continues to drive financial inclusion through innovative digital financial services, including MoMoPay, MoKash, K’avance, MoFlex, MoFaya, remittances and digital payments.
Bank of Kigali Plc (BK) is Rwanda’s largest commercial bank and a subsidiary of BK Group Plc, which is listed on the Rwanda Stock Exchange and cross-listed on the Nairobi Securities Exchange.
Founded in 1966 and celebrating 60 years in 2026, BK serves retail, SME, corporate and institutional customers through a nationwide network of branches, agents and ATMs, together with its digital channels, including the BK Mbile App, Internet Banking and USSD (*334#).
The bank drives financial inclusion and economic growth through innovative partnerships and accessible products and is committed to its purpose of transforming lives through financial solutions. For more information, visit www.bk.rw.
Yabx Technologies is a global digital lending technology company enabling banks, financial institutions and digital ecosystem partners to build, launch and scale credit businesses across emerging markets.
Its end-to-end platform and services combine alternative data analytics, AI-powered credit scoring, intelligent risk management, loan origination, loan management and portfolio operations. Through its partnerships with banks, mobile money operators and fintechs, Yabx supports a diverse range of consumer, merchant and SME lending solutions across more than 20 markets in Africa, Asia and Latin America.
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