Vodacom Tanzania agrees bank loans for M-Pesa distributors

Thursday 4 September 2014 | 16:26 CET | News
Bank of Africa has entered into a partnership with Vodacom Tanzania to enable the operator's mobile money distributors to secure loans without collateral security at favorable terms. Vodacom distributors will be able to secure loans worth up to six times their average commission earned over six months. Distributors will be entitled to take a loan worth TZS 10 million and above while the maximum loan they can get is TZA 75 million. The interest rate is 1.7 percent per month, and the loan is payable in one year. The mobile money service M-Pesa now has more than 70,000 agents countrywide. Upon

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Categories: Mobile & Wireless
Companies: Vodacom Tanzania
Countries: Tanzania, United Republic of
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