NCBA Bank, MTN MoMo have joined forces to launch the “Mo Money with Mokash” campaign

In a bid to encourage timely loan repayments and responsible financial behavior, NCBA Bank Uganda and MTN MoMo have partnered to launch the “Mo Cash with Mokash” campaign.

The eight-week campaign, which started on May 15th, aims to incentivize customers to repay their loans promptly and develop a good credit history.

Through the campaign, customers who repay their loans on time will be eligible to win weekly cash prizes of UGX 500,000 and grand prizes of UGX 5 million. The initiative aims to foster a culture of timely loan repayments, enabling customers to access more substantial and quick unsecured loans.

“When customers repay their loans promptly, it not only improves their creditworthiness but also enables them to access more substantial and quick unsecured loans,” said Miriam Olimi, Digital Communications Manager at MTN.

Charlotte Matsiko, NCBA Digital Bank-Portfolio Manager, noted that the campaign coincides with the school fees season, a period that typically sees a surge in credit demand. “Parents often need access to credit to pay school fees. This campaign will help them manage these expenses by rewarding responsible borrowers with weekly and grand cash prizes,” she said.

The campaign highlights the importance of responsible financial behavior and timely loan repayments, which can significantly impact one’s ability to obtain credit elsewhere. “About 80% of our customers are repaying their loans well, although a few are struggling. This campaign is designed to motivate them to meet their obligations,” said Charlotte Matsiko. “Defaulting can significantly hinder one’s ability to obtain credit elsewhere, as digital credit now holds the same weight as traditional bank loans since it’s registered on the CRB.”

One of the first beneficiaries of the campaign, Godfrey Wanambwa from Kira, won a cash prize and expressed his excitement. “I heard the adverts on TV and radio but never thought I would win. I have been using Mokash for some time, and the messages encouraged me to continue saving and repaying my loans. Winning this prize will help me complete my chicken roasting stall and dive straight into business.”

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