MTN Mobile Money (U) Limited, in partnership with Letshego Uganda and dfcu Bank, has launched two new loan products designed to give mobile money agents instant access to working capital.
The products, the dfcu Bank Weekend Agent Loan and the Letshego Agent Loan Float, expand the MoMo Agent Loans Marketplace and align with MTN’s Power To Be More campaign, which aims to give agents the power to do more for customers and communities.
The launch marks a significant step in the partners’ efforts to deepen financial inclusion and support thousands of mobile money agents who act as key service points in Uganda’s growing digital economy.
Through this collaboration, MTN MoMo, Letshego Microfinance and dfcu Bank are offering flexible and accessible working capital to help agents maintain sufficient float, manage busy periods and continue serving customers without interruption.
The dfcu Bank Weekend Agent Loan is a short-term digital loan facility available only to MTN MoMo agents. It provides immediate working capital during weekends, when transaction volumes usually rise.
Agents can borrow between Shs 1 million and Shs 5 million using a simple USSD process by dialling 16553#. Funds are disbursed instantly into their float wallets.
The loan is available from Friday at midnight to Sunday at 11:59pm. It is repayable within three days and does not require collateral. According to the partners, the facility allows agents to offer uninterrupted services even when banks are closed.
The Letshego Agent Loan Float extends this support beyond weekends. By dialling 1655*2#, agents can access between Shs 50,000 and Shs 5 million instantly and choose repayment terms of seven or fourteen days.
Interest is set at three per cent for seven days and four per cent for fourteen days. Loans are disbursed immediately and do not require collateral. Early repayment attracts no penalties.
Speaking at the launch, MTN MoMo Uganda’s Chief Product Officer, Jemima Kariuki, said the initiative reflects MTN’s commitment to empowering its agents.
“As MTN MoMo, we are committed to strengthening financial inclusion across the communities we serve. Together with dfcu Bank and Letshego Uganda, we have introduced innovative loan products that support our agents’ liquidity and provide convenient access to funds outside traditional banking hours,” she said.
Letshego Uganda’s chief executive officer Giles Germany Aijukwe said the partnership is helping expand financial support for small business operators.
“At Letshego, we believe progress starts with access. Our partnership with MTN is unlocking fast and reliable working capital for thousands of mobile money agents, the everyday entrepreneurs powering Uganda’s digital economy. With a simple USSD code, agents can now secure short-term float without collateral, keeping their businesses active and customers served without interruption. Together with MTN, we are enabling agents to grow, earn more and deliver better service in their communities. This is financial inclusion in action,” he said.
dfcu Bank Chief Executive Officer Charles Mudiwa said the partnership fits within the bank’s long-standing focus on inclusion, SME support and digital innovation.
“At dfcu Bank, our purpose is to transform lives and businesses through innovative financial solutions. For years, we have invested in initiatives that deepen financial inclusion, from empowering SMEs and women entrepreneurs to expanding agent banking and supporting Uganda’s digital financial ecosystem,” Mudiwa said.
