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MTN MoMo is proud to announce the launch of the “Zimba Business with MoMo” campaign, a strategic initiative designed to empower small and medium-sized enterprises across Uganda.

Jemima Kariuki, MTN MoMo’s Chief Product Officer at the katogo breakfast meeting with traders at Nakawa market

MTN MoMo is pleased to declare the opening of the “Zimba Business with MoMo” campaign, a tactical project intended to strengthen SMEs in Uganda. Representatives of the trader community were presented to the many MoMo for Business services that can greatly improve their business operations during a katogo breakfast meet-up held at Nakawa Market on July 4, 2024, to officially launch the campaign.

MTN MoMo recognizes the critical role that SMEs play in driving Uganda’s economy and is committed to supporting these businesses by providing comprehensive financial solutions. The “Zimba Business with MoMo” campaign aims to reposition MTN MoMo as a trusted business partner and solutions provider, moving beyond the traditional view of MoMo merchants as just payment processors.

The “Zimba Business with MoMo” campaign highlights four main features tailored to meet the diverse needs of business owners:

Get Paid: Business owners can seamlessly receive payments to their MoMo wallets. This service allows business to consolidate their earnings and give their customers a cashless payment option.

Make Payments: The ability to make payments to suppliers, vendors, and more through merchant-to-merchant payments. MTN MoMo enables business owners to handle these payments efficiently. By dialing *155#, selecting the “Make payments” option, and choosing the relevant category, businesses can pay their suppliers on time, manage petty cash, and settle bills effortlessly. For example, a small shop owner can pay for new inventory directly from the MoMo wallet without the need for physical cash transactions.

Get Loans: MTN MoMo provides business owners with the opportunity to save money and access quick merchant loans with higher limits through the Wezimbe Business Loans and XtraStock. This feature is particularly beneficial for micro-merchants who struggle to obtain financing from traditional financial institutions.

By dialing *155# and selecting “Get Loans,” business owners can either save their earnings or apply for a micro-loan to expand their operations. A boda-boda rider, for instance, can secure a loan to purchase an additional motorcycle, thereby increasing his revenue potential.

Make Money: Business owners can earn additional revenue by assisting their customers with various MoMo transactions. Each time a business owner helps a customer pay a bill or complete other payments through MoMo, they earn a commission. This not only provides an extra income stream but also fosters a closer relationship between the business owner and their customers. For example, a salon owner can offer MoMo services to clients, earning a commission on each transaction while providing added convenience.

Jemima Kariuki, Chief Product Officer, MTN MoMo, explained the reasoning behind the campaign: “We understand the pivotal role that SMEs play in our economy. With the ‘Zimba Business with MoMo’ campaign, we are committed to supporting these businesses by offering tailored financial solutions that address their unique challenges. By positioning MTN MoMo as a reliable and flexible business partner, we aim to enable business growth and financial inclusion for all.”

Albert Gitta, the Chief Technical and Information Officer MoMo and Marion Angom, Head of Legal, MTN MoMo talking to traders at Nakawa Market at the launch of Zimba Business with MoMo

As part of MTN’s Ambition 2025, which aims to drive financial inclusion and economic empowerment throughout the continent, MTN MoMo positions itself as a trusted financial partner, making it easier for customers to access cash and build savings. The “Zimba Business with MoMo” campaign is a testament to this commitment, reinforcing MTN MoMo’s role in fostering business growth and economic development in Uganda.