Airtel, I&M tie-up set to offer mobile cash overdraft

Dar es Salaam. Airtel Tanzania yesterday partnered with I&M Bank Tanzania to offer overdrafts through Airtel Money wallets.

Dubbed Kamilisha, the loan facility will enable customers to complete their transactions when they don’t have sufficient funds in their mobile money wallets.

Once registered, Airtel Money customers will be able to access the overdraft service, and make repayments through their mobile money wallets, according to Airtel Money services director Isaac Nchunda.

Mr Nchunda said the transactions that customers will complete using Kamilisha include person-to-person (P2P) transfer, purchase of airtime and data bundles, as well as bill payments to Luku and Dawasa, which have full interoperability with My Airtel app.

“Airtel Money has always been looking for innovative ways to fulfil customers’ day to day needs, especially the convenience of financial transactions.

“We are committed to finding new solutions that are transforming the lives of customers and providing financial empowerment,” Mr Nchunda added.

Speaking during the occasion, I&M Bank chief executive officer Baseer Mohammed emphasised that the partnership is one of the key digital innovations to provide access to financial services.

“This partnership therefore marks a major milestone in our digital transformation journey, and affirms our commitment to providing access to banking solutions to even more of the customers,” he said