- Market Watch
- May 4, 2023
- 3 minutes read
A New Mobile Loan Platform Launched In Kenya, To Offer Up To Ksh 100,000
Letshego Kenya Limited, a subsidiary of Letshego Holdings Limited (Letshego Group), has partnered with Creditinfo Kenya to launch LetsGo Cash, a…
Letshego Kenya Limited, a subsidiary of Letshego Holdings Limited (Letshego Group), has partnered with Creditinfo Kenya to launch LetsGo Cash, a self-service and short-term instant loan that gives customers access to 1,000 up to 100,000 shillings.
LetsGo Cash is payable in 30 days and geared towards consumers who need quick and easy access to funds for emergency purposes, including family emergencies, medical needs, home repairs, car breakdowns, or funds to support entrepreneurs and small businesses.
Creditinfo Kenya’s team brings decades of experience and practical knowledge in credit risk management to support the delivery of LetsGo Cash.
Letshego Kenya’s Chief Executive Officer, Adam Kasaine said: “LetsGo Cash is another way we are increasing access to product funds for more Kenyans. This is inclusive finance in action – it’s quick and hassle-free cash at a competitive price, accessible via your phone or web.”
The innovative LetsGo Cash is a potential game-changer, as it is accessible anytime, anywhere, and is more competitive than traditional short-term cash advance providers, enabling customers with immediate financial relief and the opportunity to participate in the digital economy in a sustainable and responsible manner.
Creditinfo’s Regional Manager for East Africa, Kamau Kunyiha added: “Creditinfo is proud to support LetsGo Cash to assist customers who need quick and easy access to emergency funds the most, while also helping the underserved to build their own credit scores at the same time. Customers’ applications are submitted with a few swipes on a mobile phone, and the time to cash can be as short as a few minutes.”
LetsGo Cash provides a convenient, safe, and affordable financial service to the underserved and informal sector players thereby helping to increase financial inclusion. It also helps customers build their credit record, since the better you manage your loan, the better your credit record, and the more cash you be provided with going forward.
This ensures that more people can access the service, including first-time borrowers who can now enjoy the benefits of a secure, regulated lending solution. Once approved, the money is disbursed directly into the customer’s mobile wallet. It can then be used as the customer desires, including for emergencies, such as purchasing prepaid electricity and water, paying bills, or sending money to friends and family.