Airtel Money, Centenary Bank and gnuGrid Launch Digital Loan Service in Uganda
The service combines mobile money, banking and technology to make loans available through Airtel Money wallets. Loans start at UGX 10,000, subject to approved limits, with funds disbursed directly into customers’ wallets following approval.
Airtel Money Uganda, Centenary Bank and gnuGrid have launched Kwaata Sente, a digital lending service designed to expand access to short-term credit for eligible Airtel Money customers in Uganda without requiring conventional collateral or a visit to a bank branch.
The service combines mobile money, banking and technology to make loans available through Airtel Money wallets. Loans start at UGX 10,000, subject to approved limits, with funds disbursed directly into customers’ wallets following approval.
Centenary Bank Managing Director Godfrey Byekwaso said the partnership would extend the bank’s reach beyond its existing customer base by building on its digital banking services.
“You don’t have to be a Centenary Bank customer to access these services,” Byekwaso said, highlighting the service’s potential to reach Ugandans who may not otherwise access credit through the bank’s traditional channels.
Opio Obwangamoi David, managing director of gnuGrid Technologies, explained that digital footprints could help assess customers’ creditworthiness, offering an alternative to conventional lending requirements. The approach is intended to support credit assessments for eligible borrowers who may have limited access to traditional lending services.
Airtel Money Managing Director Japhet Aritho emphasised the importance of responsible borrowing alongside increased access to digital credit. He said loans should help customers manage financial needs and pursue economic opportunities rather than draw them into cycles of debt.
Aritho also stressed the need for borrowers to understand loan terms, borrow within their financial means and make repayments on time.
The launch brings together Airtel Money’s mobile money platform, Centenary Bank’s lending capabilities and gnuGrid’s technology to provide short-term digital credit. By allowing eligible customers to apply for loans without visiting a bank branch, the service aims to reduce some of the barriers associated with conventional borrowing.
The partners said Kwaata Sente forms part of efforts to broaden financial inclusion in Uganda while promoting a sustainable digital credit ecosystem.
