Airtel Money and Letshego Uganda have expanded Uganda’s credit portfolio with the launch of “LetsGo Pesa,” an innovative mobile loan service designed to provide quick and convenient financial solutions for Ugandans.
Developed in partnership with GnuGrid, a credit-scoring engine, the service aims to reduce risks for lenders and make borrowing more affordable for customers with good credit behavior. LetsGo Pesa is a short-term, automated loan service exclusively available to individual Airtel Money customers.
The new financial solution simplifies the loan acquisition process, enabling customers to meet urgent financial needs without the typical complexities associated with traditional loans.
“We are leveraging technology to bring financial relief directly to the people, allowing them to access funds quickly, conveniently, and safely, without the need for collateral or lengthy approval processes. This partnership with Airtel Money and GnuGrid is a significant step towards expanding financial inclusion in Uganda,” said Giles Aijukwe, CEO of Letshego Uganda.
He added, “Our vision is to create a world where financial services are accessible to all, regardless of their location or financial status. LetsGo Pesa is not only innovative but also deeply rooted in the needs of our customers.”
Japheth Aritho, Managing Director of Airtel Mobile Commerce Uganda Limited, emphasized the importance of partnerships in expanding financial access.
“We made a commitment to build and maintain partnerships that increase digital financial access equitably. Letshego Uganda has joined us at the right time, as we promote a culture of good credit behavior that rewards borrowers based on their credit scores,” Aritho stated.
“We welcome all partners on this journey to extend credit beyond traditional boundaries. LetsGo Pesa is more than just a loan service; it represents a step forward in the financial empowerment of Ugandans,” he added.
According to officials, LetsGo Pesa is designed to be user-friendly and accessible to Airtel Money customers, offering flexible loan amounts ranging from shs20,000 to shs700,000. Borrowers have up to 30 days to repay the loan.
The new service marks a significant move towards expanding digital financial inclusion in Uganda, offering a streamlined and accessible way for people to secure short-term loans to meet urgent needs.
