Airtel Money, I&M Bank Tanzania Launch Digital Lending Service – KAMILISHA through Mobile Phone.
The service is available to Airtel Money customers, Terms and Conditions apply
Dar es Salaam September 22nd, 2021 Airtel Tanzania, in partnership with I&M Bank Tanzania, has today launched an overdraft mobile money service that will enable customers to complete their transactions seamlessly without sufficient funds in their Airtel Money wallets, subject to terms and conditions.
Dubbed Kamilisha, the overdraft service will be facilitated by I&M Bank Tanzania who reassures customers that their transactions won't be denied due to lack of funds. Once registered, Airtel Money customers will be able to access the overdraft service and make repayments through the Airtel Money Menu from their mobile phones.
The transactions that customers will complete using Kamilisha include Person-to-Person (P2P) transfer, purchase of airtime and data bundles, and bill payment to Luku, Dawasa which has full interoperability with My Airtel app.
Speaking in Dar es Salaam during the launch, Isaac Nchunda - Director of Airtel Money services at Airtel Tanzania said, "Airtel Money has always been looking for innovative ways to fulfill customer's day to day needs, especially the convenience of financial transactions. Airtel Money users can access Kamilisha through Airtel Money main menu *150*60#, select 0 Fund my wallet then 1 Kamilisha, and opt-in to the service. We are committed to finding new solutions that are transforming the lives of customers and providing financial empowerment."
"Through our analysis, our customers' transactional hurdles are often caused by a shortage of funds in their wallets. Through Kamilisha, users will be able to complete transactions that would have otherwise failed or postponed due to shortage of funds," added Nchunda.
Speaking on the occasion, Baseer Mohammed, CEO, I&M Bank, Tanzania emphasized that, this strategic partnership with Airtel has been one of the key Digital innovations to provide access to financial solutions to a large section of the banking community. This partnership, therefore, marks a major milestone in our digital transformation journey and affirms our commitment to provide access to banking solutions to even more of the customers." Baseer added.
Kamilisha is powered by Yabx, a fintech venture offering credit products across 12 countries in Africa. Yabx's Director Africa Business Eunice RG, said "We, at Yabx, are excited to work with Airtel Tanzania and I&M Bank Tanzania to deliver Kamilisha. Using Yabx's technology, the partnership seeks to enable the Airtel wallet base to shop now and pay later.
