Airtel, Fidelity Introduce Airtel Money Bosea

Airtel Money, in collaboration with Fidelity Bank and Tiaxa, a global leader in Nano credits, has launched Airtel Money Bosea, a new mobile money lending platform

The Airtel Money Bosea is a loan scheme that provides access to financial services, enabling Airtel money customers to borrow money instantly through their Airtel Money wallet anytime, anywhere.

The historic partnership, which seeks to provide small loans to all Ghanaians, both in and outside the banking system, is set to open up the space in mobile commerce and fundamentally change the way Ghanaians view their Mobile wallets.

Eligible customers can borrow up to GH¢200 and have up to one month to pay back through deductions via their Airtel Money wallets.

Speaking at the launch of the new mobile money platform, Rosy Fynn, Director of Marketing and Airtel Money at Airtel Ghana said, “Airtel Money Bosea is the first of its kind in this country developed to empower and enable access to credit facilities for Airtel Money customers anytime and anywhere.

“This product provides instant access to credit, especially at those moments when you need to settle a bill or to make a purchase. All you need to do is dial *500#, select the 9^th item on the drop down menu and follow the instructions to access Airtel Money Bosea,” she said.

Edmund Barwuah said in order to qualify for the service, one must first be an Airtel money customer for at least 90 days and be active on the platform.

He further indicated that the amount of money that can be borrowed will be influenced by an individual's transaction rate.

He said customers who pay back the loans before the due date will be rewarded with lower payment rates and get the chance to get high loan facilities.

Touching on Fidelity Bank's decision to be part of the innovative partnership, Dr. William Derban, Director for Inclusive Banking & CSR at Fidelity Bank said “with this partnership, many people will be able to access small amount of money anytime, anywhere. As an innovative bank, we are proud to be part of this revolution in mobile money in Ghana.”

By Jamila Akweley Okertchiri