KAMPALA: Centenary Bank, Airtel Money and fintech company gnuGrid have launched a mobile loan product that lets eligible customers borrow money on their phones without a bank account, an internet connection or a visit to a branch.
The product, Kwaata Sente, offers short-term loans from UGX 10,000 to UGX 500,000, subject to each customer’s approved limit. Customers apply by dialling 1858*5#, and the money is sent straight to their Airtel Money wallets.
Under the arrangement, Centenary Bank provides the loan funds and Airtel Uganda handles applications, disbursements and repayments through its mobile money platform. gnuGrid builds the customer profiles used to assess whether a customer qualifies for credit.
The launch, held on Wednesday at Centenary Bank’s headquarters in Kampala, comes as more Ugandans borrow through digital channels. Bank of Uganda figures show that digital loan disbursements reached about UGX 4.8 trillion across 306.3 million transactions in the 12 months to December 2025, up 96.1% in value on the previous year.
Godfrey Byekwaso, managing director of Centenary Bank, said the product would extend the bank’s reach to people who need small loans quickly.
“As Centenary Bank, we believe that this partnership shall open up doors to more people out there who wish to get quick, instant loans to solve quick challenges,” he said.
The product adds to the bank’s other digital channels: GonzaPay, CenteMobile, internet banking and agent banking.
Byekwaso said customers should understand the charges, repayment dates and penalties for late payment before taking a loan.
“I encourage customers to borrow for genuine need and take only what they can repay within the agreed period. Timely repayment helps build a positive repayment record that may inform future credit assessments,” he said.
Japhet Aritho, managing director of Airtel Money, said the product would let customers get credit without paperwork or a trip to a bank, and named small business owners and traders restocking goods as likely borrowers.
“For a small business owner managing a cash flow or a trader replenishing stock, timely access to credit can make a meaningful difference,” Aritho said.
David Opio Obwangamoi, chief executive of gnuGrid, said the product had been piloted for almost a year to test how customers used it before the full launch.
“To me financial inclusion in a practical way is about partnerships, innovations and going beyond the conventional way of doing things and figuring out means to reach the unbanked,” he said.
The partners did not disclose the product’s interest rate, fees or repayment period at the launch.
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