MFS Africa is a pan-African mobile solutions startup focused on offering  financial services to its users – ranging from life insurance, international money transfers, savings, credits to payments – in a collaborative effort with local  MNOs and Financial Institutions.

Today they are launching a new service for the Ghanaian market called mjara Loans, which is essentially a mass market adaptation of the startup’s existing KwikAdvance – a service that claims to give users access to up to 40% of their monthly salary in advance. With mjara Loans, users can apply for quick loans – varying from emergencies to business needs – on the fly, through their mobile phones.

By this channel, mjara Loans looks to eliminate inaccessibility and the cumbersome process of applying for loans from traditional Financial Institutions. According to Julie Neogy, General Manager Sales and Marketing at MFS Africa, that means there’s “no need for paperwork, guarantors and collateral. Mjara Loans are quick, convenient, and confidential”.

Access to mjara Loans requires that users go through an obligatory vetting period, upon which a credit limit is assigned. Loan requests falling within the user’s limit are granted instantaneously, with their mobile money wallets funded immediately. The vetting period can last anywhere from a few hours to a couple of months, depending on the amount of information available to MFS. However, all vetted clients qualify for a minimum loan of 100 GHS.

The mjara Loans service is currently available to all MTN Mobile Money users in Ghana, and will be extended to other mobile networks later in the year. Visit for more details.

Photo Credit: whiteafrican via Compfight cc

Read this next

SquareCountry  is a local discovery tool that aims to serve two main categories of customers: Merchants who seek a more effective way of promoting their discounts, building more visibility for their business, and driving more engagement with their customers. Customers who are seeking the best deals on great products and services. The SquareCountry concept is not unlike […]

More From TC
Internet, Politics, Technology
19th December 2018

The vice presidential debate is over and Nigerian Twitter is awash with comments about how smart some of the candidates’ responses were and how some others simply fell hand. Anticipation ahead of the elections is building just as is excitement around the potential usefulness of blockchain technology across various fields. Sadly, some of us may not even get the chance to cast a vote next year.

TC Townhall: The State of Healthtech in Nigeria will convene some of the leading healthcare innovators, investors and policymakers to discuss the challenges and opportunities in the sector. As well as put together proposals that policymakers can implement to support the rapid growth of the sector.

Features, Gadgets, Technology
15th December 2018

As far as I can recall, I’ve owned seven phones in the last nine years, four of which forcefully ended up with people who needed them more than I did. Out of the remaining three, I recall handing one down to a younger sibling and disposing another in a waste bag during spring cleaning. I haven’t given much thought to where my current phone will end up when it no longer serves its purpose. Until now.

TechCabal is a Big Cabal Media brand

Copyright © 2019
All rights reserved

Privacy & Terms