By
Fahad Muganga
Diamond Trust Bank (DTB) Uganda, Airtel Money, and Credable Group have partnered to launch “Kwasa Kwasa,” a mobile-based loan service aimed at expanding access to financial services across Uganda.
The initiative seeks to address financial inclusion gaps by offering short-term loans to Airtel Money users without requiring collateral. Borrowers can access loans as low as UGX 5,000 through Airtel’s USSD code 1858*3# or the MyAirtel App.
Kwasa Kwasa is designed to serve individuals and small businesses often excluded by traditional banking systems, particularly in rural areas and informal sectors. The service aims to provide a convenient and affordable financial solution for daily personal and business needs.
The collaboration between DTB, Airtel Money, and Credable brings together technical and financial expertise to reach underserved populations.
Speaking at the signing of the tripartite agreement DTB’s Chief Executive Officer, Godfrey Sebaana notedthat the Kwasa Kwasa loans align with Uganda’s financial inclusion goals, targeting underserved
populations, particularly in rural areas and informal savings groups.
“We are optimistic that the Kwasa Kwasa will enable us to meet our vision of enabling people to advance with confidence. We are sure that at the micro level any person can now solve needs conveniently”, Godfrey Sebaana said.
Japhet Aritho Airtel Mobile Commerce Uganda Limited – Managing Director said, “At Airtel Money we are committed to building strong partnerships that increase access to credit to our customers many of whom wouldn’t be banked by traditional banking, said Aritho
“We welcome DTB and Credable for joining us on this journey. A journey that is now available in the hands of millions of our customers and on our USSD 185,” added Aritho
Speaking at the signing of the tripartite, Credable Uganda’s Country Lead, Mr. Simon Asiimwe,emphasized the partners’ commitment to ensuring that every Kwasa Kwasa customer can be assured of a fast, reliable, and exceptional user experience.
To qualify for a Kwasa Kwasa loan, users must have an active Airtel SIM card, be registered for Airtel Money, and possess a valid National Identification Number (NIN). Loans are repayable within 30 days, with an option to extend repayment.
