Running low on cash? PostBank Uganda and MTN Mobile Money have teamed up to offer XtraCash, a new way to get micro-loans right on your phone. This is big news for the 13 million people who use MTN Mobile Money in Uganda.
Life can be unpredictable, and sometimes you just need a little extra cash. Now, MTN Mobile Money users in Uganda have a new option for getting short-term loans, thanks to a cool partnership between PostBank Uganda and MTN MoMo. They’re calling it “XtraCash” – pretty catchy, right? It’s like having a mini bank right in your pocket!
PostBank’s Managing Director, Julius Kakeeto, explained that they’re all about helping Ugandans become more prosperous. Teaming up with MTN, a big name in mobile money, just makes sense. They both want to make sure everyone has access to financial services, no matter where they live or how much money they have.
Richard Yego, the CEO of MTN MoMo, agrees. He’s stoked about XtraCash because it’s a simple and safe way for millions of Ugandans to get the financial help they need. It builds on their other successful collaborations, like Wendi and MoMo Advance, which also aim to boost financial inclusion in Uganda.
“This is entirely a simple and safe way for millions of Ugandans to get the financial help in the real time the need arises. You do not have to line up anywhere nor go into a long hustle” Richard Yego confirmed this as he released the way to get the loans.
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To get XtraCash, you need to have been using MTN MoMo for at least six months, be over 18, and use your account regularly. Sounds pretty fair! To see how much you can borrow, just open the MTN MoMo app or dial a special code – 1655# – and select XtraCash.