KAMPALA, UGANDA – PostBank Uganda and MTN Mobile Money have unveiled XtraCash, a digital micro-lending solution designed to provide instant financial assistance to MTN mobile money subscribers.
The innovative partnership aims to extend financial services to over 13 million mobile wallet holders, promoting economic empowerment and financial inclusion.
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“Our collaboration with MTN Uganda aligns with our mission to foster prosperity for Ugandans,” said Julius Kakeeto, PostBank Uganda’s Managing Director. “We’re committed to sustainable financial inclusion, ensuring more Ugandans participate in the money economy.”
Kakeeto further emphasized that XtraCash would deliver convenience and support the bank’s purpose. “Millions of Ugandans rely on mobile money for daily transactions, and this product extends vital financial support,” he added.
Richard Yego, MTN MoMo’s Chief Executive, noted that XtraCash reinforces the company’s commitment to driving financial inclusion. “We’re providing reliable, secure, and easy-to-use financial solutions to millions of Ugandans,” he said.
“By making micro-loans accessible, we’re opening doors to opportunities that improve livelihoods and support businesses,” Yego explained. “XtraCash will significantly impact Ugandans’ daily lives, providing urgent financial relief.”
To qualify, users must be active MTN MoMo users for six months, over 18 years old, and maintain regular usage. Eligible users can access XtraCash through the MTN MoMo App or by dialing 1655#.
This partnership strengthens PostBank and MTN MoMo’s commitment to financial inclusion, building on successful collaborations like Wendi mobile wallet and MoMo Advance.
With XtraCash, PostBank and MTN MoMo are poised to transform the financial landscape, empowering millions of Ugandans.
