MTN MoMo, Letshego and dfcu Bank Launch Innovative Loans to Boost Agent Liquidity

MTN Mobile Money Limited, in collaboration with Letshego Uganda and dfcu Bank, has unveiled two innovative loan products aimed at providing mobile money agents with instant working capital.

The dfcu Bank Weekend Agent Loan and the Letshego Agent Float Loan expand the MoMo Agent Loans Marketplace and support MTN’s Power To Be More campaign, equipping agents with the financial resources to better serve their customers and communities.

The launch represents a major step in strengthening Uganda’s digital financial ecosystem. Mobile money agents, who form the backbone of daily digital transactions, often face liquidity challenges during peak hours or high-demand periods.

These new products provide flexible, collateral-free capital accessible whenever it is needed most.

The dfcu Bank Weekend Agent Loan addresses liquidity issues between Friday and Sunday, when transaction volumes typically surge.

Agents can borrow between Shs1 million and Shs5 million via a quick USSD process (#16553#), with funds credited directly to their float wallets.

The loan, available from Friday midnight to 11.59pm on Sunday, is repayable within three days and requires no collateral, helping agents maintain uninterrupted service over weekends.

Complementing this is the Letshego Agent Float Loan, which offers short-term working capital throughout the week.

Agents can access between Shs300,000 and Shs5 million by dialing 1655*2#, with instant approval and repayment options of seven or fourteen days.

The loan carries competitive interest rates, requires no collateral, and encourages responsible borrowing by eliminating penalties for early repayment, enabling agents to manage peak demand and expand daily operations.

Speaking at the launch, Jemima Kariuki, Chief Product Officer at MTN MoMo Uganda, said the new product is an innovative loan product that supplement agents’ liquidity and provide convenient access to funds beyond traditional banking hours.

"These solutions will enable our agents to deliver seamless digital transactions and payments across Uganda, giving them the Power to Do More," Kariuki said.

Giles Germany Aijukwe, chief executive of Letshego Uganda, added: “Our partnership with MTN MoMo 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. This is financial inclusion in action.”

dfcu Bank CEO Charles Mudiwa emphasized the bank’s role in supporting entrepreneurial growth: “The dfcu Bank Weekend Agent Loan gives mobile money agents timely, reliable working capital that keeps their businesses running and customers served. We are proud to play a role in strengthening Uganda’s entrepreneurial backbone and enabling accessible financial services for all.”

The rollout of these loan products reflects the shared vision of MTN MoMo, Letshego Uganda and dfcu Bank to enhance financial resilience and empower micro-entrepreneurs nationwide.

By offering instant, flexible, and collateral-free loans, the partners are ensuring that mobile money agents can deliver uninterrupted service, grow their incomes, and contribute to Uganda’s broader financial inclusion and digital transformation agenda.