Airtel Money, Letshego partner to offer mobile loans to customers
Airtel Money and Letshego Uganda have expanded the country’s credit portfolio with LetsGo Pesa, an innovative mobile loan service designed to offer financial solutions to Ugandans in need of quick and convenient access to funds.
This new service is launched in partnership with GnuGrid, a credit-scoring engine that will help
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reduce risks and make it cheaper for the average borrower with good credit behavior.
According to officials, LetsGo Pesa is a short-term, automated mobile loan service available exclusively to individual Airtel Money customers.
This new financial solution is intended to assist customers in meeting their urgent financial needs without the complexities traditionally associated with loan acquisition.
"We are leveraging technology to bring financial relief directly to the people, enabling them to access funds quickly, conveniently, and safely, without the need for collateral or lengthy approval processes. This partnership with Airtel Money and gnuGrid is a significant step towards expanding financial inclusion in Uganda," said Giles Aijukwe, the CEO of Letshego Uganda.
"Our vision is to create a world where financial services are accessible to all, regardless of their
location or financial status. LetsGo Pesa is not only innovative but also deeply rooted in the
needs of our customers."
Airtel Mobile Commerce Uganda Limited Managing Director, Japheth Aritho underscored the rationale of partnerships.
“We made a commitment to build and maintain partnerships that increase digital financial
access equitably. Letshego Uganda has come at the right time when we are entrenching the
culture of good credit behavior that rewards the good borrowers based on their credit scores.
We welcome all the partners on this journey that shall extend credit beyond the traditional
boundaries of credit. LetsGo Pesa is more than just a loan service. It represents a step forward
in the financial empowerment of Ugandans," said Aritho.
According to officials, LetsGo Pesa is designed to be user-friendly and accessible to Airtel Money customers to offer flexible loan amounts between shs20,000 and 700,000.
Borrowers have up to 30 days to repay the loan .
