Airtel Money and Letshego Uganda have recently unveiled a game-changing mobile loan service called LetsGo Pesa, aimed at providing Ugandans with swift and convenient access to funds. This innovative offering comes at a time when many are seeking financial solutions that are not only accessible but also user-friendly.
LetsGo Pesa is a short-term, automated mobile loan service tailored exclusively for Airtel Money customers. It addresses urgent financial needs without the typical complexities associated with traditional loans.
Whether it’s for an emergency medical bill, an unexpected repair, or a temporary cash flow gap, LetsGo Pesa promises to deliver an affordable, instant solution.
Giles Aijukwe, CEO of Letshego Uganda, expressed enthusiasm about the launch, stating, “At Letshego, our mission is to improve lives through inclusive financial solutions. With LetsGo Pesa, 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.”
He further emphasized the service’s commitment to accessibility: “Our vision is to create a world where financial services are accessible to all, regardless of their location or financial status.”
The launch of LetsGo Pesa is a collaborative effort between Airtel Money, Letshego Uganda, and GnuGrid, a credit-scoring engine. This partnership aims to enhance financial inclusion by utilizing an advanced credit-scoring system to mitigate risks and lower costs for borrowers with good credit behavior.
Japheth Aritho, Managing Director of Airtel Mobile Commerce Uganda Limited, noted, “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 good borrowers based on their credit scores.”
Key features of LetsGo Pesa
Borrowers can access between UGX 20,000 and UGX 700,000, catering to a variety of financial needs. Customers have up to 30 days to repay their loans, allowing them ample time to manage their finances effectively. The loan is repaid in one lump sum, minimizing the complexity often associated with repayment schedules.
Accessing LetsGo Pesa is straightforward. Customers simply dial the USSD short code *185# on their Airtel line, select the LetsGo Pesa option, and follow the prompts to apply for a loan. The entire process is quick and requires no physical documentation or collateral.
Eligibility criteria
To ensure responsible borrowing, customers must meet certain eligibility criteria. The Airtel SIM card must have been in active use (voice, data, or Airtel Money) for at least 12 months.
An active mobile money account with a good transactional history is required. A clean credit history is also essential to qualify for a loan.
These criteria not only make the service accessible to a broad audience but also promote responsible lending and borrowing practices.
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