BPR Bank Rwanda and MTN MoMo Rwanda have launched MoFaya, a new digital loan and savings solution that enables eligible customers to access instant loans of up to Rwf2 million and save directly from their Mobile Money wallets.
Launched during a joint press conference on Monday, the service allows customers to borrow and save without visiting a bank branch by simply dialing 1825*6#.
Speaking at the launch, BPR Bank Rwanda Managing Director and CEO Patience Mutesi said the partnership reflects the bank’s commitment to expanding access to financial services through digital innovation, enabling customers to access credit and savings more quickly and conveniently.
MTN MoMo Rwanda CEO Chantal Kagame said the collaboration is aimed at making financial services more inclusive by leveraging mobile technology to meet the everyday financial needs of Rwandans.
The partnership combines BPR’s banking expertise with MTN MoMo Rwanda’s extensive mobile money platform to widen access to formal financial services, particularly for individuals and small businesses seeking fast and convenient financing.
The launch comes as Rwanda continues to deepen financial inclusion through digital innovation.
With mobile money playing an increasingly central role in the country’s economy, MoFaya is expected to give more Rwandans easier access to credit while encouraging a stronger culture of saving.
