MTN MoKash: Savings and lending for the last mile

MTN MoKash: Savings and lending for the last mile

By Anna Ferracuti, UNCDF MM4P
September 06 , 2016

Agent in Bundibugyo

Kampala, UGANDA - 

On August 9, MTN Uganda co-launched with the Commercial Bank of Africa (CBA) a new service that gives MTN Mobile Money customers the opportunity to save and borrow using their mobile phones.

What makes Mobile Money unique is the accessibility of its services wherever the customer is, across the country and in partner countries. Mobile Money for the Poor (MM4P) has supported MTN since 2014 to make sure that “wherever” would include rural areas. Rural areas in Uganda are home to 84 percent (31 million) of Ugandans and half of whom have low income.

MM4P funded a market research on both users and non-users of MTN Mobile Money that was carried out by PHB Development to understand saving and lending behavioral patterns in Uganda, notably in rural areas. The study resulted in a demand segmentation that led to a pilot.

Leveraging on the success of Mobile Money and with the technical support of MM4P, MTN designed a free-of-charge product that aims at bridging the savings and credit provision gap in Uganda: MoKash.

The only requirements for MoKash are to be a registered MTN subscriber and be active on MTN Mobile Money. Depending on their needs, customers can either save amounts as low as UGX 50 (USD 0.015) or take a 30 day micro loan between UGX 3,000 up to UGX 1,000,000 (USD 0.89 – USD 296.74), based on their loan limit updated monthly.

MoKash consist in Savings, Auto-Savings, Loans, Loan Payment and Account Balance Check, all of those made accessible paperless and through the secret Mobile Money PIN already owned by a given customer.

After the launch on August 9th, MoKash registered 83,000 customers in less than 48 hours.

Learn more about the MTN Saving and Lending product these links: Mokash in UgandaMokash registered 83,000 customers, How to Save and Get a loan through Mokash

About Mobile Money for the Poor (MM4P)

Mobile Money for the Poor (MM4P) is a programme launched by UNCDF in partnership with the Swedish International Development Agency (Sida), the Australian Department of Foreign Affairs and Trade (DFAT), the Bill & Melinda Gates Foundation and The MasterCard Foundation. MM4P provides support to branchless and mobile financial services in a select group of LDCs to demonstrate how the correct mix of financial, technical and policy support can build a robust branchless and mobile financial services ecosystem that reaches low income people in LDCs.

For more information, visit or follow @UNCDFMM4P

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