MTN Mobile Money Zambia, in partnership with leading banking infrastructure provider JUMO, has launched Kwanisa Na MoMo—a new mobile money overdraft credit service designed to offer real-time financial relief to Zambians.
Exclusively available to MTN MoMo customers, Kwanisa Na MoMo provides immediate access to overdrafts via mobile money, allowing users to complete essential payments even when their wallet balance is low. Importantly, the service is accessible via feature phones and requires no data connection. Customers can activate the service by dialing *115#, selecting option 6 (Kongola & Savings), and then option 1 for Kwanisa Na MoMo.
Overdraft eligibility is based on customers’ mobile money activity and is powered by JUMO’s AI-driven credit assessment systems, which evaluate creditworthiness without the need for collateral or formal financial records. This makes Kwanisa Na MoMo particularly valuable to micro and small business owners, informal traders, and underserved individuals who have traditionally lacked access to formal credit solutions.
JUMO, recognized globally for its responsible digital finance practices, scored an impressive 92.2% in ethical standards and customer protection from ESG verification body Cerise + SPTF. The company is committed to delivering fair, transparent, and sustainable financial services.
Komba Malukutila, Managing Director at MTN Mobile Money Zambia, underscored the significance of the launch: “The introduction of Kwanisa Na MoMo aligns with our broader mission to provide seamless digital and financial solutions that empower individuals and businesses to thrive. With over 1.2 million MoMo users now able to access unsecured loans, MoMo has evolved into a true lending marketplace. Partnering with JUMO allows us to offer customers more flexibility and instant access to overdraft facilities directly from their mobile phones.”
He added that the overdraft service addresses a key challenge in mobile transactions: a high rate of failed payments due to insufficient funds. “Kwanisa Na MoMo bridges that gap, ensuring customers can complete transactions when it matters most.”
Since its inception in 2015, JUMO has disbursed over $8 billion through more than 248 million loans to 31 million individuals across eight African countries—including Zambia. Their AI-powered infrastructure enables mobile money providers and banks to offer tailored savings and credit products at scale.
Bradwin Roper, JUMO’s Chief of Payments Partnerships, noted: “Everyone deserves access to the best financial choices. Through our partnership with MTN Mobile Money, we’re unlocking more fit-for-purpose credit solutions using smart data and responsible technology. Our AI doesn’t take a one-size-fits-all approach—it adapts to individual behaviors, ensuring people access the right financial support when they need it most.”
In Zambia, MSMEs make up 97% of all businesses, and by combining the accessibility of mobile money with JUMO’s intelligent digital infrastructure, Kwanisa Na MoMo marks a significant step toward building a more inclusive financial ecosystem—empowering informal entrepreneurs and communities from the ground up.
