{Tigo Cash, the mobile financial services arm of Tigo Rwanda, has launched the pilot phase of ‘TigoNshoboza Loan Service’, a platform that allows eligible Tigo Cash users to access loans via their mobile wallets.}
This service will enable Tigo Cash users to access loans to use in their daily lives, whether it is to buy groceries, pay for electricity or school fees.
TigoNshoboza will be released to a limited number of Tigo Cash customers aged 18-65 years.
The pilot launch will allow Tigo Cash users to assess the delivery of the mobile loans service and the public’s response. The service will be available to eligible Tigo Cash customers, regardless of whether or not they have a bank account.
Commenting on the launch of the TigoNshoboza Loan Service and its impact on increasing financial inclusion, the Deputy Chief Executive Officer of Tigo Rwanda, Chantal UmutoniKagame, said;
“We are excited to launch TigoNshoboza, a product that we feel will be exciting for Tigo Cash users. With TigoNshoboza, our customers will be able to get quick loans to attend to their needs, no matter what time they need the money and where they are. I am confident that as people use this service, it will encourage them to use mobile financial services more. We believe that this is a solution for people at a critical time when Rwanda is moving towards greater financial inclusion”.
With the TigoNshoboza Loan Service, customers will be able to borrow money for 7, 14 or 21 days with the loan amounts dependent on the transaction usage on their TigoCash account as well as their Tigo airtime usage. To increase the amount of money that they can borrow, all that Tigo Cash customers need to do is pay their loans in full and on time.
The commercial launch of TigoNshoboza in Rwanda will be announced in due course.
Leave a Reply