MTN Mobile Money Zambia and leading banking infrastructure provider JUMO have partnered to bring Kwanisa Na MoMo, a mobile money overdraft credit option, to the people of Zambia.
Available exclusively to MTN MoMo customers, Kwanisa Na MoMo offers real-time access to overdrafts via mobile money, enabling users to complete essential mobile money payments, even when they don't have sufficient funds available. The service is accessible on a feature phone and does not require data. Customers can access the service via USSD short codes by dialling 115 and selecting option 6 on the menu Kongola Savings, then option 1 for Kwanisa na MoMo. Customers can access an overdraft based on their mobile money wallet activity and credit eligibility, assessed and enabled by JUMO's AI-driven information management systems.
This means the facility is tailored to meet the specific financial needs of micro and small business owners, traders, and everyday customers who are often excluded from traditional financial systems due to limited formal credit histories and a lack of collateral or paperwork. The need for access to funds is balanced with high customer protection principles, a gap JUMO is committed to closing responsibly by providing fair, sustainable and transparent financial services. JUMO received a landmark 92.2 score for ethical practices in digital financial services and unprecedented customer protection standards from the globally recognised ESG rating and verification organisation Cerise SPTF.
The introduction of Kwanisa Na MoMo aligns with our broader mission to create seamless digital and financial solutions that empower individuals and businesses to thrive. In Zambia, we have over 1.2 million MoMo users being able to access unsecured loans, MoMo has evolved into a lending marketplace, giving customers more choice and flexibility. Partnering with JUMO, we're proud to offer our users even more control over their financial journeys by providing instant and convenient access to an overdraft directly from their mobile phones.
