MTN Mobile Money (U) Limited has officially launched Wesotinge Season 2, a dynamic initiative aimed at enhancing financial empowerment for Ugandans. Building on the momentum from its successful first season, this new chapter introduces MoMo Advance, an innovative overdraft service designed to tackle everyday financial hurdles with unprecedented ease.
The inaugural season of Wesotinge in 2024 marked a significant turning point in the financial landscape of Uganda, witnessing a remarkable surge in loan uptake. Millions of Ugandans were introduced to the transformative capabilities of MTN MoMo Loans and Savings, which now boasts over 13.2 million users.
This impressive growth underscores MTN MoMo’s commitment to evolving mobile money into a holistic financial ecosystem that caters to the diverse needs of its customers.
What is in MoMo Advance?
At the heart of Wesotinge Season 2 lies MoMo Advance, a service that redefines convenience for users. Unlike conventional term loans, MoMo Advance is readily available to all MTN MoMo users, offering instant, need-based top-ups that eliminate the frustration of failed transactions due to insufficient balances.
This means whether you are paying utility bills, sending money, or purchasing airtime, MoMo Advance ensures you are never left short.Jemima Kariuki, Chief Product Officer at MTN MoMo, articulated the essence of this service:
“With MoMo Advance, we’ve redefined convenience for our customers. This service is not just a loan; it’s a solution that adapts to your needs in real-time. Whether you’re managing everyday expenses or tackling unexpected situations, MoMo Advance ensures that money is always within your reach.”
Streamlined user experience
Activating MoMo Advance is designed to be a seamless experience. Users can easily access this service by dialing 1655# or through the “Loans” feature on the MTN MoMo app.
Once activated, customers enjoy a simplified transaction process with just one prompt needed during their financial activities—eliminating the often cumbersome traditional loan application processes.
MoMo Advance is tailored for everyday scenarios such as:
- Paying utility bills (e.g., Yaka, National Water)
- Sending money through peer-to-peer transactions
- Making payments via MoMo Pay
- Purchasing airtime and data bundles
By streamlining these processes, MoMo Advance not only enhances convenience but also provides peace of mind to users, allowing them to focus on what truly matters.
A comprehensive financial ecosystem
While MoMo Advance takes center stage in this season’s offerings, it is part of a broader suite of loan and savings products available through MTN MoMo. These include:
- Mokash (in partnership with NCBA)
- MoPESA (in partnership with KCB)
- MoSente (in partnership with Jumo)
- XtraCash (in partnership with Postbank)
Additionally, MTN MoMo savings features enable users to start saving with as little as UGX 500 while earning interest on their balances. This flexibility empowers customers to save for various goals such as school fees or emergencies, paving the way for greater financial security.
Empowering financial literacy
Wesotinge Season 2 is not just about providing services; it’s also about education and empowerment. Through interactive activations and targeted campaigns, MTN aims to equip every user with essential tools to confidently navigate their financial journeys. Kariuki emphasized this commitment:
“MTN MoMo is on a mission to make financial security accessible to all Ugandans. Wesotinge Season 2 underscores this commitment by ensuring every customer has the financial tools they need right at their fingertips.”
Read About: How to get a loan via mobile money
