How to Get a Loan on MTN Mobile Money Uganda

Nov 21, 2025 0

MTN Mobile Money Uganda offers convenient ways for its customers to access credit facilities through services like MoSente and MoKash. These services aim to provide quick and easy access to financial assistance, especially for entrepreneurs and individuals in need of working capital. Let's explore how you can leverage these services to secure a loan.

Understanding MTN Mobile Money Services

MTN Mobile Money Uganda is a subsidiary of MTN Uganda, focusing on mobile financial services (MoMo). MTN has a significant presence throughout Uganda, reaching all 136 districts with a network of 119,077 Mobile Money agents, 200 service stores, and 13 main distributors.

With MTN representing over half (53%) of all mobile subscribers in the country, approximately 15 million people have the opportunity to access tailored lending products suitable for their business and living requirements.

According to Financial Sector Deepening Uganda (FSDU), a substantial portion of Ugandans are either financially excluded or rely on informal financial services. Specifically, 22% of Ugandans are financially excluded, and 56% use informal financial services. This highlights the importance of accessible mobile financial services like MoSente and MoKash.

MoSente: Accessing Credit Facilities

MoSente is designed to provide MTN customers with access to credit facilities. Customers can borrow amounts starting from UGX 10,000, with variable terms that align with their personal circumstances or earning cycles.

Read also: Loan Products in Africa

Buhle Goslar, JUMO’s Africa CEO, emphasized that their work with MTN focuses on supporting entrepreneurs by providing simple and quick access to working capital. JUMO’s technology reduces the costs associated with delivering and administering financial products, allowing customers to access high-value products at low prices. This collaboration enables partners like telcos, impact investors, and banks to reach new markets.

The launch of MoSente in Uganda is part of JUMO’s long-term growth plan for Africa, aiming to expand financial inclusion and support economic development.

MoKash: Saving and Borrowing via Mobile Phone

TechInAfrica highlights MoKash as another special service provided by MTN for saving and borrowing money via mobile phones. When borrowing money through MoKash, the funds are credited to the customer’s mobile money account for a 30-day period.

Key Features of MoKash:

Loan Limit: Determined by your credit score.
Maximum Amount: UGX 1,000,000.
Minimum Amount: UGX 3,000.
Interest Rate: A 9% interest is added to the loan amount.
Repayment Period: Loans must be repaid within 30 days.

Compared to traditional banking loans, MoKash offers faster loan processing as it does not require collateral. This makes the process significantly quicker and more accessible.

how to Repay MTN Mobile Momokash loan

Steps to Borrow Money on MoKash

Check Your Loan Limit: Before applying, verify your loan limit.
Apply for the Loan: Follow the prompts on your phone to request the desired loan amount.
Receive the Funds: If approved, the money is credited to your mobile money account.
Repay on Time: Ensure you repay the loan within 30 days to avoid penalties and maintain a good credit score.

Important Reminders

Always remember to repay your loan within the stipulated 30-day period. The interest rate is 9% of the borrowed amount, so factor this into your repayment plan.

Read also: Best Loan Apps in Zambia

By utilizing services like MoSente and MoKash, MTN aims to provide accessible and convenient financial solutions to its customers, fostering economic growth and financial inclusion in Uganda.