Grace Ashiru
The collaboration will empower qualified customers to access a loan during emergencies, with the funds being swiftly deposited into their Airtel mobile money account.
Airtel money Zambia and PremierCredit have collaborated to introduce a new mobile loan service called “Na Sova KaFast Loan,” with the goal of enhancing financial inclusion in the country.
Airtel has partnered with a financial institution to provide eligible customers with instant loans deposited directly into their Airtel mobile money accounts. This eliminates the hassle of traditional loan applications and paperwork.
Vincent Malekani, CEO of PremierCredit, emphasized the significance of the KaFast loan launch, stating that it signifies a transition towards a future where financial assistance is considered a fundamental right rather than a privilege. He stressed that access to credit should be based on inclusion rather than socio-economic status.
The KaFast loan service streamlines the loan application process for eligible Airtel Money customers by enabling direct application through their mobile devices. This eliminates the need for extensive paperwork and bureaucratic obstacles, ensuring quicker access to financial assistance during times of need.
We are excited to announce a significant milestone as we join forces with PremierCredit to introduce the Nasova KaFast Loan on our Airtel Money Menu for our customers,” stated Andrew Chuma, Airtel Mobile Commerce Country Director. “This collaboration represents a merging of expertise and a common goal of promoting financial inclusion and prosperity for all. By utilizing our extensive reach and PremierCredit’s robust financial offerings, we are well positioned to revolutionize the financial services landscape in the region.”
To qualify for a KaFast loan, customers must have been active Airtel Money users for a minimum of six months, with a demonstrated history of consistent transactions. Additionally, a clean repayment record on any prior Airtel Money loans is required.
