MTN Mobile Money Zambia & JUMO Launch Overdraft Service ‘Kwanisa Na MoMo
- MTN Mobile Money Zambia launched Kwanisa Na MoMo, a new mobile money overdraft service.
- The service allows users to access overdrafts via mobile money, even with low wallet balances.
- Kwanisa Na MoMo is available on feature phones and requires no data connection.
The launch of Kwanisa Na MoMo represents a significant advancement in financial technology, particularly in enhancing access to credit for underserved populations. This initiative could potentially transform the financial landscape in Zambia by empowering small businesses and informal traders, but it will be crucial to monitor the long-term impacts on financial literacy and responsible borrowing.
