Whether it's covering an unexpected expense, taking advantage of a business opportunity, or saving towards a personal milestone, MoFaya gives customers the flexibility to manage their finances with confidence through a simple, secure, and fully digital experience.
MoFaya enables eligible customers to borrow between Rwf 1,500 and Rwf 2,000,000, with flexible repayment periods of 3, 7, 14, or 30 days, allowing them to choose an option that best suits their financial needs.
Interest rates are transparent and competitive, ranging from 2.5% to 9%, depending on the selected repayment period.
In addition to instant access to credit, customers can also save directly through MoFaya and earn attractive interest rates ranging from 5% to 8%, depending on the savings target they choose.
The solution encourages customers to not only meet immediate financial needs but also plan confidently for the future.
Getting Started with MoFaya
Accessing MoFaya is simple and convenient. Customers can dial 1825*6# and follow the prompts to apply for a loan or start saving. Once approved, loan funds are instantly disbursed into the customer's MoMo wallet, enabling them to transact immediately.
Speaking at the launch, Chantal U. Kagame, Chief Executive Officer of MoMo Rwanda, said: 'At MoMo Rwanda, every innovation begins with understanding the everyday realities of our customers. Sometimes people need a little financial support to bridge the gap before payday, respond to an emergency, or take advantage of an opportunity. Other times , they simply want an easy and reliable way to save towards their dreams.
'MoFaya gives our customers the flexibility to do both; from wherever they are, at any time, and directly from their phones. Together with BPR Bank Rwanda Plc., we are making financial services more accessible, more convenient, and more empowering because everyone deserves solutions that help them move forward with confidence.'
The launch of MoFaya reflects the shared commitment of MoMo Rwanda and BPR Bank Rwanda to expand access to inclusive digital financial services.
By combining the convenience of Mobile Money with trusted banking expertise, the partnership enables more Rwandans to access affordable credit and grow their savings through secure, customer – centric digital solutions.
Speaking on the partnership, Patience Mutesi, Managing Director of BPR Bank Rwanda Plc, said: 'BPR Bank is committed to making financial services more accessible, convenient, and relevant to the everyday needs of our customers. Through our partnership with MoMo Rwanda, MoFaya extends the reach of affordable digital credit and savings solutions to more Rwandans, enabling them to respond to immediate financial needs, invest in opportunities, and build a stronger financial future.
'This collaboration reflects our continued commitment to advancing financial inclusion through innovative, customer – centric solutions that empower individuals and businesses to thrive.'
As Rwanda continues to embrace digital financial services, MoMo Rwanda remains committed to developing innovative solutions that simplify everyday life, empower individuals and businesses, and contribute to a more financially connected nation.
Mobile Money Rwanda Ltd is MTN Rwanda's FinTech subsidiary, established on 27th April 2021 to provide and manage Mobile Money services in Rwanda.
The company has about 6.4 million subscribers, over 65,000 Mobile Money agents, and over 600,000 MoMoPay merchants across the country.
BPR Bank Rwanda Plc is Rwanda's largest bank by customer base, with a nationwide network of 73 branches, serving individuals, SMEs, corporates, and institutional clients across the country.
As a member of the KCB Group, the Bank combines deep local expertise with regional strength to deliver innovative, customer – centric financial solutions.
