Zed-Fin Loans Launches on MTN Zambia Mobile Money Kongola Platform

by Sandi | Posted on
This morning, a new digital loan service called ‘Zed-Fin’ has been added to the MTN Zambia MoMo Kongola platform.
To access it, MTN subscribers can dial *115#, select Kongola and then select Zed-Fin Loans.
(In image: From L-R: MTN Fintech MD Komba Malukutila shakes hands with Zed-Fin CEO Justin Chola, as Puneet Chopra, Chief Growth Officer of Yabx, looks on)
 
The loans one can get are dependent on the credit score you have and are assessed in partnership with the Credit Reference Bureau (CRB) and other financial partners. The interest rates on the loans also depend on the amount being borrowed.
 
At the launch today in Lusaka, Zed-Fin CEO Justin Chola shared, “Having Zed-Fin Loans on the MTN Kongola Platform is an important milestone for us as the product is designed to allow for greater financial inclusion for the vast majority of our fellow citizens who ordinarily find it difficult to easily access financial assistance for their day-to-day micro businesses or other emergency financial needs.
In addition to providing technologically driven, safe, secure and affordable credit to the vast majority of our citizens, Zed-Fin desires to be a financial institution that will ultimately grant Zambians of all walks of life who embrace our vision and values the opportunity to become co-owners of the business.
 
We want to create a uniquely Zambian financial institution which is owned by ordinary Zambians while providing world-class service and adhering to international governance procedures underpinned by our core values – Professionalism, Integrity, Customer Focus, Respect, Innovation, Excellence and, above all, maximising Financial Inclusion.”
 
He also thanked the Bank of Zambia, MTN Zambia and Yabx for their support towards the service, “I would like to thank the Bank of Zambia, our regulator, for the support rendered to Zed-Fin as we went through the rigorous licensing process that is designed to ensure that all licensed Financial Institutions meet world-class standards in all areas of governance operations and financial stability.
 
I would also like to thank our partners, MTN for the role that they have played in bringing us to where we are today. MTN’s expertise, innovation and shared commitment to excellence have been invaluable. Without the support of the Bank of Zambia and MTN, we would not be here today.
 
I would also like to thank Yabx whose cutting-edge technological platform and superior risk management capabilities allow us to seamlessly and rapidly provide safe, and secure affordable credit to our clients across the country.”

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Comments

  2. Improve on the platform as it is challenging when trying to settle the loan. We don’t want credit ratings to be affected by your bad platform. IT please work on this ASAP.

  5. Why does it take so long for you to approve a person to start taking a loan?even though he/she use MTN transaction regularly?

  9. I have received a message that I can borrow money now the amount is to small k50,l want k200 on this line 0964228049

  16. REF, ZEDFIN LOAN #889003023 .
    TXN; C1240310.1458.L51714 .
    CC. AITEL MOMO ; +26 0977570565 .
    CC. BANK OF ZAMBIA CSD A/C ; BAZAX11434820001 ; SWIFT BIC ; BAZAZMLU .
    CC. ACCESS BANK(Z)LTD : A/C ; 0126046550017 : SWIFT TRANSFER : FMBZZMLX .

    1. I applied but at the end only says loan summary..but what should I do next

  20. I payed the outstanding balance but still showing that I’m still owning zed-fin,my question is why should I pay more and I’ve the transaction id,

  26. Is showing I can get the loan in the amount of 285 but still can’t be credited

  30. I paid my zedfin loan of k50 which i borrowed on this number, 0764529042. Again i tryed to owe it shows that am not eligible for kongola zedfin loan why please help me to get the loan again

  34. I have been on record borrowing money on Zedfin. I got a loan which was paid 6 days before actual deadline.
    I paid everything and message said eligible for another loan.
    Tried to apply but saying I need to transact more on momo and yet iam transacting on momo.
    Help me follow up on this.

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