MoMo Rwanda and BPR Bank Launch MoFaya, Enabling Digital Loans of Up to Rwf2 Million

MoMo Rwanda, in partnership with BPR Bank Rwanda Plc, has launched MoFaya, a fully digital loan and savings solution that gives eligible Mobile Money customers access to loans ranging from Rwf1,500 to Rwf2 million.

The new service aims to make borrowing and saving more accessible by allowing customers to access financial services directly through their Mobile Money wallets without visiting a bank branch.

A New Way to Borrow and Save

MoFaya is designed to help customers respond to emergency expenses, finance business opportunities, or build personal savings using a simple digital platform.

Customers can access the service by dialing 1825*6# on their mobile phones. Once eligible, users can apply for loans, receive instant disbursements, and repay them through Mobile Money. The platform also allows customers to save directly from their wallets, bringing lending and savings together in one service.

According to MoMo Rwanda and BPR Bank, the solution offers flexible repayment periods and competitive interest rates to meet different customer needs.

Supporting Financial Inclusion

The launch of MoFaya reflects the ongoing efforts by MoMo Rwanda and BPR Bank Rwanda to expand access to digital financial services across the country.

By combining Mobile Money's widespread adoption with BPR Bank's banking expertise, the partnership seeks to make formal financial services more convenient, secure, and accessible for Rwandans.

Digital financial products continue to play an important role in Rwanda's drive toward a cash-lite economy, enabling individuals and small businesses to access credit and manage their finances more efficiently through mobile technology.

Strengthening Rwanda's Digital Financial Ecosystem

As demand for digital banking services continues to grow, solutions such as MoFaya demonstrate how partnerships between telecommunications companies and financial institutions can improve access to affordable financial products.

The launch adds to Rwanda's growing fintech ecosystem, where innovation is helping more people participate in the formal financial system while supporting entrepreneurship, financial resilience, and economic inclusion.

Source: New Times(Rwanda) Official LinkedIn Page or newtimes website