PostBank, MTN MoMo launch XtraCash to provide micro-loans for everyday financial needs

By Our Reporter PostBank Uganda (PBU) in partnership with MTN Mobile Money (U) Limited (MTN MoMo) has launched Xtracash, a digital Micro Lending solution that is positioned to extend short term facilities to MTN mobile money subscribers. This initiative is poised to provide approximately 13 million mobile wallet holders in the country with convenient access to financial assistance. XtraCash will be accessible through MTN mobile money, a leading mobile money operator, in partnership with PBU as the financial partner providing much needed support to customers by extending micro-loans for everyday financial needs. While launching the new service, PostBank Uganda, Managing Director, Julius Kakeeto, stated that, “As PostBank Uganda, we have our purpose of Fostering Prosperity for Ugandans. This partnership with a key stakeholder like MTN Uganda with whom we share a common objective of doing sustainable financial inclusion is very critical in bringing more Ugandan in the money economy. We are cognizant that people always run out of cash and need some XTRA Cash to keep them running, this is why we are here today, to introduce a solution that will ensure that our customers’ needs are catered for.” Kakeeto further mentioned, “We are excited to collaborate with MTN MoMo...