ZED-FIN and Airtel Money Join Forces to Launch Revolutionary Loan Service for Zambian Customers
ZED-FIN Financial Services Limited, a prominent Zambian financial institution, has forged a strategic partnership with Airtel Mobile Commerce Ltd (Airtel Money) to introduce loan services for Airtel customers through the Airtel portal.
This collaboration allows eligible customers to access loans directly deposited into their Airtel mobile money accounts.
Justin Chola, CEO of ZED FIN, expressed his enthusiasm about the partnership, highlighting its significance in expanding financial inclusion. He emphasized that this milestone would facilitate the provision of loans to Airtel Money subscribers, thereby addressing the financial needs of a significant portion of Zambia’s population, particularly those involved in micro-businesses or facing emergency financial situations.
Chola illustrated the impact of this partnership with a practical example, citing the story of Amai Tembo, a market vendor aiming to expand her business. He emphasized ZED-FIN’s commitment to working with individuals like Amai Tembo to facilitate business growth through accessible financial solutions.
Andrew Chuma, Country Director of Airtel Mobile Commerce, underscored the importance of digital financial services, especially for marginalized and unbanked populations. He highlighted the challenges these segments face in accessing credit due to lack of collateral or credit history, making solutions like the Na Sova ZED FIN loan service invaluable.
Chuma emphasized Airtel Money’s alignment with the government’s agenda on digital financial services, citing their commitment to championing financial growth as outlined in the 8th National Development Plan. He emphasized the responsible use of credit for essential needs such as education and healthcare emergencies.
To qualify for a loan through the Na Sova ZED FIN service, individuals must be active Airtel Money customers for at least six months and engage in regular transactions. Additionally, they must have cleared any previous loans obtained through Airtel Money.
The partnership between ZED-FIN Financial Services and Airtel Mobile Commerce Ltd represents a significant advancement in enhancing loan accessibility in Zambia. By leveraging their combined expertise and resources, they aim to provide crucial financial support to those in need while fostering sustainable economic growth in the country.
Additional source: Zambia Business Times
