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Zambia

MTN Mobile Money Zambia and JUMO launch mobile money overdraft facility together

24 July 2025

Creating more opportunities for Zambians to access on-demand digital financial services

Lusaka, 24 July 2025 – MTN Mobile Money Zambia and leading banking infrastructure provider JUMO have partnered to bring Kwanisa Na MoMo, a mobile money overdraft credit option, to the people of Zambia.

Available exclusively to MTN MoMo customers, Kwanisa Na MoMo offers real-time access to overdrafts via mobile money, enabling users to complete essential mobile money payments, even when they don’t have sufficient funds available. The service is accessible on a feature phone and does not require data. Customers can access the service via USSD short codes by dialing *115# and selecting option 6 on the menu (Kongola & Savings), then option 1 for Kwanisa na MoMo. Customers can access an overdraft based on their mobile money wallet activity and credit eligibility, assessed and enabled by JUMO’s AI-driven information management systems.

This means the facility is tailored to meet the specific financial needs of micro and small business owners, traders, and everyday customers who are often excluded from traditional financial systems due to limited formal credit histories and a lack of collateral or paperwork. The need for access to funds is balanced with high customer protection principles, a gap JUMO is committed to closing responsibly by providing fair, sustainable and transparent financial services. JUMO received a landmark 92.2% score for ethical practices in digital financial services and unprecedented customer protection standards from the globally recognised ESG rating and verification organisation Cerise + SPTF. 

The Managing Director of MTN Mobile Money in Zambia, Komba Malukutila, emphasised the role of mobile financial services in closing the access gap:

‘The introduction of Kwanisa Na MoMo aligns with our broader mission to create seamless digital and financial solutions that empower individuals and businesses to thrive. In Zambia, we have over 1.2 million MoMo users being able to access unsecured loans, MoMo has evolved into a lending marketplace, giving customers more choice and flexibility. Partnering with JUMO, we’re proud to offer our users even more control over their financial journeys by providing instant and convenient access to an overdraft directly from their mobile phones.

The addition of an overdraft service is a natural next step in expanding our lending portfolio, especially as we’ve observed a high volume of failed transactions due to insufficient funds. Kwanisa Na MoMo helps bridge this gap and ensures customers can complete transactions when they need to most.’

The service is delivered by MTN Mobile Money Zambia in partnership with JUMO, a leading provider of AI-driven digital banking infrastructure. JUMO enables banks and mobile money providers to offer smart credit and savings products at scale. Since its founding in 2015, JUMO has disbursed over $8 billion to more than 31 million people across eight African countries, including Zambia, through over 248 million loan transactions.

Bradwin Roper, JUMO Chief: Payments Partnerships added:
‘We believe everyone deserves access to the best financial choices. Through our partnership with MTN Mobile Money, we’re using data and technology to unlock more credit solutions for people who have long been underserved. Kwanisa Na MoMo is a fit-for-purpose, scalable product designed to support entrepreneurs and communities to grow from the ground up.

At JUMO, we’re deeply committed to building financial tools that are not only fast and accessible, but also personalized and responsible. Our AI doesn’t take a one-size-fits-all approach; it adapts to individual behaviour to ensure people can access what’s right for them at that moment.’

In Zambia, MSMEs make up 97% of all businesses. By combining mobile money’s reach with JUMO’s digital infrastructure, Kwanisa Na MoMo marks a significant step toward a more inclusive financial ecosystem, one that empowers and grows the informal and micro-enterprise sector.

ENDS

ABOUT MTN Mobile Money Zambia

MTN Mobile Money Zambia Ltd is Zambia’s leading mobile financial services provider, offering secure, convenient, and innovative digital financial solutions to millions of Zambians.

A part of the MTN Group, a multinational telecom leader with operations in 18 countries across Africa, MTN Mobile Money Zambia provides a wide range of services including money transfers, bill payments, merchant payments, lending and savings products.

With a vast network of agents across all 10 provinces, MTN Mobile Money is committed to driving financial inclusion and supporting Zambia’s digital economy.

momo.mtn.com

www.Instagram.com/MoMofromMtnZm

www.Facebook.com/MoMofromMtnZm

www.linkedin.com/company/momo-from-mtn-zm/

ABOUT JUMO

JUMO has built AI-led financial technology that powers banks to deliver a new generation of digital credit and savings products to millions of entrepreneurs in Africa. We work with partners, such as banks, e-money operators and payments providers, to facilitate high-tech information and money management systems.

Since founding in 2015, JUMO has disbursed over $8 billion dollars to 32 million people in Ghana, Kenya, Tanzania, Zambia, Uganda, Côte d’Ivoire, South Africa, Benin and Cameroon. Their administration of over 248 million individual loans has proven that microcredit in Africa is imperative, impactful and sustainable.

With unmatched speed to market and low infrastructure costs, JUMO aims to

bring banking to everyone, everywhere, anytime.

www.jumo.world

JUMO Media Relations
comms@jumo.world

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