MTN Kongola Benefits Unbanked Clients

MTN Kongola Benefits Unbanked Clients

OVER five million clients have benefited from the MTN Zambia mobile digital lending platform between 2016 to date as part of its commitment to accelerate financial inclusion in the country.
Currently, Zambia’s level of financial inclusion, which is how individuals and businesses access useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way, is about 40 percent.

The MTN digital lending product is dubbed Kongola, and is being operated in partnership with Barclays Bank Zambia and Jumo Mobile Money.

The digital financial platform, which was launched in 2016 and provides real-time access to credit and savings, has registered about 1.5 million customers.