Commercial Bank of Africa to Offer Direct Mobile Lending in Uganda

Monday, February 1, 2016

Commercial Bank of Africa (CBA) is introducing a Mobile Micro Savings and Loans product in Uganda allowing customers to borrow money via their phones.

“The product CBA wants to introduce on the Ugandan market is a very interesting one. We have tested it in Kenya and CBA Uganda wants to replicate it in Uganda,” Samuel Odeke, the CBA Executive Officer said last week.

“At the moment CBA is seeking approval  by the regulator before we can launch the product which we expect to be done in April 2016,” Odeke said at a news conference.

In Kenya, CBA, in partnership with mobile telecom market leader, Safaricom, launched M-Shwari.

Source: East African Business Week Newspaper (link opens in a new window)

lending, microfinance