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TANZANIA : Airtel Offer Timiza Loans to Airtel Money Agents

Airtel Offer Timiza Loans to Airtel Money Agents

  • ZERO collateral loans
  • Over 20,000 Airtel Money agents to benefit

Airtel Chief Commercial Officer, Arindam Chakrabarty (left) accompanied by Assistant Commissioner in the Ministry of Finance, Ridhiwan Masudi(right)  and Afb Tanzania Managing Director, Wayne Stocks  display a poster of the new launched service dubbed "Timiza Wakala Loans", which offers loans to Airtel Money agents across the country. The launch event was held at New Africa hotel  in Dar es Salaam.


Dar es Salaam, Tuesday 18th August 2015, Airtel Tanzania, in partnership with Afb Tanzania Ltd, has launched a loan service to its Airtel Money agents dubbed "Timiza Wakala Loans", where Airtel Money agents country wide will have access to loans without collateral starting from 50,000 Tshillings to 500,000 Tshillings.

Speaking during the launch, Airtel Chief Commercial Officer, Arindam Chakrabarty said, "Airtel recognizes that Airtel Money agents are looking for opportunities to grow their businesses. We are excited today as we launch a tailor made unsecured loan service for our agents, the first of its kind in Tanzania and also in Africa. The Timiza Wakala loans will be accessible to more than 20,000 agents across the country.  I am confident Timiza Wakala Loans will enhance our agents businesses with much needed working capital and in turn increase their profitability to promote financial inclusion"

He further explained, "Airtel has already launched Timiza loans service, with an estimated 7 million Airtel customers eligible to quick unsecured loans, with ease and convenience to enable them manage their daily economic and social challenges better. Timiza Wakala Loans is giving our Airtel Money agents the freedom to seek quick and unsecured loans without going through a long intrusive traditional loan process". Added Chakrabarty.

Afb Tanzania soon to be rebranded as JUMO, Country Head, Rwebu Mutahaba, stated, "Agents are scored purely on their mobile activity, so we are able to trust them, this is why they are unsecured. The end result is people have access to opportunities they never had before. Afb Tanzania are proud to partner with Airtel to deliver solutions to Airtel customers. Timiza Wakala Loans is one of many innovative products we have in the pipeline that we plan to deliver in the coming months in Tanzania".

The greater their activity, the bigger the loan they can get. Additionally as one repays a loan on time, be it for 7 day, 14 day or 28 day period, a new one becomes immediately available. It takes literally 1 minute to complete the loan request session on the agent's mobile phone and the money is deposited immediately in their account. Added Mutahaba

On behalf of the Permanent Secretary, Assistant Commissioner in the Ministry of Finance, Ridhiwan Masudi said, "We as a government are very pleased with the progress being made by Airtel to promote financial inclusion. We are happy with the quick roll out of Money service products that cuts across and benefit ordinary Tanzanians in rural areas. I take this opportunity to urge you to continue to introduce more innovative products and services to serve our communities better"

Airtel Money agents can obtain Timiza Wakala Loans" by simply dialing the *150*60#, short code and select the 4th option option to access Airtel Agent Loan, then they should enter their mobile money pin to authorize Airtel to access their account, after this step, the Timiza loan menu will be available

About Bharti Airtel

Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G and 4G wireless services and mobile commerce. Bharti Airtel had over 324 million customers across its operations at the end of March 2015. To know more please visit, http://www.airtel.com

About Jumo

Jumo is a mobile money marketplace for African consumers, small businesses and mobile network operators. We are driving real-time access in Africa by using a data-driven system to determine the best rates and the best loan candidates - creating a better deal for both sides.

We are empowering consumers and supporting entrepreneurs, processing millions of loans per month to previously excluded populations. Jumo is powering Africa's future, today