Philip Amoateng
Telecel Cash has disbursed more than GH¢1 billion through its Ready Loan service, highlighting growing demand for digital credit in Ghana, according to management of the communication company.
The service, launched in partnership with CBG Ghana and Simbrella Ghana Limited, allows eligible Telecel Cash customers to access short-term loans directly through their mobile money wallets.
The loans, which range up to GH¢2,500 depending on customers’ assigned credit limits, are disbursed within minutes to provide funds to meet urgent expenses and support small business operations.
Telecel Ghana said the ready loan is designed to address some of the barriers associated with traditional borrowing, including lengthy application processes, collateral requirements and limited access to banking services.
It noted that customers could use the facility to manage household expenses, bridge cash-flow gaps and meet short-term financial obligations without going through conventional loan application procedures.
The Managing Director of Simbrella Ghana Limited, Fui Fiadjoe, stated that the GH¢1 billion disbursement milestone reflects the volume of credit channelled through the platform, as well as the role of mobile money services in extending access to digital lending.
He reaffirmed the company’s commitment to expanding loan disbursements while maintaining safety, responsible lending and inclusivity.
The Managing Director of Telecel Mobile Financial Services, Philip Amoateng, said the company remained focused on developing digital financial solutions that were accessible and relevant to customers.
He said services such as Ready Loan were helping to deepen financial inclusion by giving customers greater financial flexibility and control over their finances.
Mr. Amoateng, however, urged customers to borrow responsibly and repay their loans on time to maintain access to the service and support their eligibility for future credit.
A Business Desk Report