Overview:

Ugandan lender Delta Cash has opened a new branch in Naalya, Kampala, and launched a loan campaign called "Kiggale" offering credit within 12 hours.

The Ugandan short-term lender Delta Cash has opened a new office in Naalya, Kampala, and launched a financing campaign it is calling “Kiggale”.

The name comes from a Luganda phrase meaning “close the deal”. The company says the campaign is meant to stop people and businesses missing opportunities when they are briefly short of cash.

The new branch is at Naalya Heights and will serve customers across greater Kampala, Delta Cash said.

Under the campaign, the lender is offering loans of between 2m and 300m Ugandan shillings (about $540 to $81,000). It says clients who qualify can receive the money within 12 hours.

Maria Nakachwa, the company’s head of finance and accounts, said Delta Cash had been built around fast, simple lending for people who need capital quickly.

“We have disbursed more than UGX 10 billion over the last five years, mostly to entrepreneurs and individuals who needed quick financing to take advantage of opportunities,” she said at the launch. “‘Kiggale’ is exactly what we want our clients to experience: close the deal, and let us take care of the rest.”

The company lends against a vehicle logbook, which means customers can borrow without handing over their car. Delta Cash places a caveat on the logbook while the loan is outstanding and lifts it once the money is repaid.

To apply, borrowers must provide a national ID, a logbook registered in their name, and six months of bank or mobile money statements.

Its products include personal, business, and local purchase order and contract loans. The company says it charges no penalty for early repayment and no hidden fees.

Delta Cash also buys out loans from other lenders, clears vehicles held in bond, finances up to 60% of a car’s value, and offers a service in which staff complete paperwork at a customer’s home or office.

The lender said the Naalya expansion reflected rising demand for quick credit among entrepreneurs, salaried workers and small firms in eastern Kampala.

Delta Cash is a product of Delta Partners Ltd, which it says has operated in Uganda for five years.