Empowering African Businesses

Maisha MFB agree deal with Airtel Money to offer instant credit

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Maisha Microfinance Bank Ltd (Maisha MFB) has announced a new partnership deal with Airtel Money to provide instant credit to its customers.

The deal signed Tuesday will see Airtel money customers apply for loans and make savings through their smartphone – a first mobile-based credit facility service for a Kenyan micro finance institution.

Maisha MFB credit feature, M-Fanisi taps into Airtel’s mobile money transfer service which will act as a virtual bank for cash deposits and withdrawals.

Speaking yesterday during the product’s launch, Maisha MFB Chief executive Ireneus Gichana said that the platform, piloted 6 weeks ago has already locked in more than 50,000 accounts with 20,000 accounts already disbursed with loans.

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“The response has been positive, and judging by this trend we project to service over half-a-million (500,000) customers by the end of the year,” he said.

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