November 11, 2014

Airtel breaks ground with new short-term mobile credit service

  • Timiza is a new Airtel service that gives customers access to short term credit facilities via their mobile phones
  • Unsecured loans provide a strong platform for small to medium enterprises to trade and grow

Dar es Salaam November 2014:
Airtel Tanzania has today launched a service that will give Airtel Money customers access to quick loans on their mobile phones via Airtel Money. The service has been launched in partnership with pan-African credit provider afb.  This new service, Timiza,  will provide short-term credit facilities to Airtel customers and loans will be repayable in 7 to 28 days.

Speaking during the launch, the Prime Minister Hon Mizengo Peter Pinda said:

“Access to short term credit is a big incentive to small to medium entrepreneurs in Tanzania. By addressing this integral need, Airtel will be partnering in the larger vision of the Government that aims at providing the population with the enabling tools that will boost and motivate entrepreneurial spirit. In turn, an empowered populace will stimulate a positive multiplier effect that is fundamental to economic development.”

Airtel Managing Director Sunil Colaso said:

“Today’s launch of our Airtel Money Timiza service is a significant demonstration of our vision to deliver relevant and innovative mobile solutions that positively impact the daily lives of our Tanzanian customers. We expect the service will scale up economic empowerment among multiple groups including women groups, business entrepreneurs and individuals. Most importantly we believe that this will stimulate financial inclusion especially to a vast majority of the unbanked population, offering them fresh capital to manage their short and long term needs.”

afb founder Andrew Watkins-Ball said:

“Unlike banks that offer credit based on a borrower’s savings or credit history, afb is lending based on a customer’s mobile phone usage. Therefore Airtel’s customers will be rewarded for their loyalty by getting instant access to credit. This credit will give many Tanzanians real financial choices for the first time and, as a result, change lives.”

Speaking on the service mechanism, Airtel Money product Manager Moses Alphonce said:

“Airtel Money Timiza is a groundbreaking service. Its convenience is likely to eliminate some of the lending conditions that have impeded Tanzanians from accessing credit.”

Customers must be registered with Airtel Money and must be active users of Airtel Money services for at least 30 days. To access the loan service our Airtel Money customer will simply dial *150*60# and following the menu to access their loans. The loan will be repayable from the day you secured your loan up to 28 days, to repay your loan the amount will be deducted from your Airtel money on the repayment date as indicated during the subscription.

Airtel Money is a secure and convenient mobile commerce service that allows customers to transfer money between one mobile phone to the other across all networks, top up mobile phone with airtime/data or another customer’s mobile phone. It also allows customers to pay utility bills as well as buy goods anywhere.

About Bharti Airtel

Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 4 mobile service providers globally in terms of subscribers. In India, the company’s product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce. Bharti Airtel had over 303 million customers across its operations at the end of September 2014. To know more please visit, www.airtel.com