MTN MoMo Adds Konza Loans, Giving Zambians Fast, Easy, Collateral-Free Credit
MTN Mobile Money Zambia (MoMo from MTN ZM) has announced the integration of Konza Loans into its Kongola marketplace, offering customers new avenues to access short-term credit via their MoMo wallets.
The Kongola platform aggregates multiple lending partners, giving users the flexibility to select a loan provider that best suits their needs. Customers can now request a loan, receive instant funds in their MoMo wallet, and repay conveniently.
Konza Loans joins an expanding list of lenders on Kongola, including Kasaka Loans, XtraCash Loans, Xpress Loans, Ka’Starta, and Zed-Fin Loans. The service is available via USSD by dialling *115#, selecting Option 6 (Kongola & Savings), then Option 2 (Kongola), and choosing a preferred lender. Approved loans are disbursed instantly, enabling users to manage urgent financial needs such as working capital, transport, school fees, or daily expenses.
Speaking on the expansion, Komba Malukutila, Chief Executive Officer of MTN Mobile Money, said the inclusion of Konza Loans strengthens MoMo’s position as a leading digital financial services platform.
“Kongola is designed to give customers choice and convenience,” Malukutila said. “By bringing multiple lenders onto one platform, customers can access collateral-free credit quickly and securely using a service they already trust. The introduction of Konza Loans broadens the options available and helps more customers find solutions that match their needs.”
The Kongola marketplace serves a diverse clientele, including small traders, informal workers, salaried employees, and entrepreneurs across urban and rural communities, where access to traditional credit is often limited.
By integrating multiple lenders into MoMo, the platform removes common barriers to borrowing, such as paperwork, lengthy approval processes, and the need to visit physical branches. Customers can now apply for, receive, and repay loans entirely via their mobile phones.
This development forms part of MTN MoMo’s broader strategy to create a comprehensive digital financial ecosystem supporting payments, savings, and access to credit, advancing financial inclusion across Zambia.
