MTN QwikLoan Launched

Ebenezer Asante

MTN Ghana has launched its Mobile Money Service dubbed, QwikLoan at the Rawlings Park in Accra.

Eli Hini, General Manager for MTN Ghana’s Mobile Financial Services, indicated that Qwikloan facility offers customers on the Mobile Money platform the opportunity to apply for stress-free loans of up to GHC1,000, which is repayable within 30 days.

According to him, the service, which was piloted in selected communities in the country, has received positive feedback.

Eli Hini indicated that Qwikloan would bring relief to customers by providing a channel through which customers can access funds to meet their needs.

“Qwikloan is an instant way of creating opportunities where one does not have to go through the hustle to provide proof of collateral in order to access the loan,” he stated.

Touching on eligibility for the service, he indicated that one must be 18 years and above, be an active MTN Mobile Money account holder for more than 90 days with a reasonable stock of cash transaction for some time.

He explained that there are limits to the number of loans a customer can take in a day or week, adding that it attracts a service charge of 6.9% per loan with the option of repaying manually by selecting the ‘Repay loan’ option on the Qwikloan Menu.”

MTN’s mission and vision to target the unbanked population is yielding great results, as we now have more than 8.2 million active subscriber base and over 88,000 merchant points nationwide, the General Manager indicated.

Mr Hini cautioned account holders not to disclose their PIN numbers and entertain calls or messages on their mobile money accounts.

By Solomon Ofori