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Showing posts from July, 2018

MTN QwikLoan

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Usually when I write articles about telecommunication companies in Ghana it's not in a favorable light, but I have to commend MTN for its new QwikLoan initiative which allows you to borrow (electronic) money directly from the company that is instantly deposited onto your SIM card.
There are basic stipulations you have to meet before they will loan you money, but what it all basically boils down to is that if they're convinced you will pay back the loan they will give it to you, and essentially what that means is that your Mobile Money account would need to have a certain type of transaction history that would give MTN the impression once again that you can/will pay it back, but how exactly they make that decision is unspecified.  For instance according to the website mfidie your account would have had to been active for at least 30 days, but I know someone who said he's been using Mobile Money for the past five years, yet they won't give him a loan, while myself only po…