Dubbed Airtel Money Bosea, the new service was introduced by the telecommunication company in partnership with Fidelity Bank and Tiaxa, a global leader in Nano credits.
Ms Rosy Fynn, Customer Experience Director, speaking at the event noted that the initiative will empower and give access to credit facilities to the financially excluded and unbanked customers.
“Airtel Money has led the way in driving breakthrough innovation and partnerships to empower Ghanaians and deliver unparallel value for our customers.
We are excited to be partnering with Fidelity Bank and Tiaxa to drive and promote financial inclusion for all Ghanaians,” Ms Fynn said.
This partnership, she said, will push the boundaries and create limitless possibilities for Ghanaians via the Airtel Money platform.
Ms Fynn said the service would change the economy saying “we live in a country where people sometimes need small amount of money as their start-up capital to make a difference and this will serve that purpose.”
Mr Edmund Barwuah, Head of Corporate Airtel Money, said customers should dial *500# and follow the prompt to be able to borrow money using the service.
He said customers whose Airtel Money Wallet are always active can have access to this service and can borrow money up to a maximum of GH¢200 to settle urgent bills without any stress.
“Customers have a period of one month to pay back their loans with an interest rate between 10 per cent and a maximum of 20 per cent”.
He said if customers are able to pay their loan within the one month time frame would reduces their interest rates and can have access to more borrowing chances.
Dr Willaim Derban, Director for Inclusive Banking at Fidelity, said the initiative had come at the right time since access to financial services is important for every Ghanaian.
He said as a bank at the forefront for the telecommunication company the service will impact the lives of Airtel customers and Ghanaians at large.
Airtel Money Bosea is accessible to all Airtel customers who have an active wallet and have been pre-qualified for the service.
Customers on other mobile networks can also benefit from the facility by either porting to Airtel and activating their Airtel Money wallet or by simply acquiring an Airtel SIM card and registering for Airtel Money.
Customers can as well call Airtel’s contact centre on 222 for further enquiries.
By Samira Larbie, GNA