Centenary Bank, Airtel Money launch account-free mobile lending

KAMPALA — Centenary Bank and Airtel Money have launched a mobile lending product that does not require borrowers to hold a bank account, extending the bank’s credit to Airtel’s mobile money customers.

The product, Kwaata Sente, was developed with fintech firm gnuGrid. It offers short-term loans from UGX 10,000 to UGX 500,000, depending on each customer’s approved limit. Borrowers apply by dialling 1858*5#, with no internet connection or branch visit needed, and the money is sent straight to their Airtel Money wallets.

Under the arrangement, Centenary Bank funds the loans and Airtel Uganda handles applications, disbursements and repayments through its mobile money platform. gnuGrid builds the customer profiles used in credit assessment.

The companies did not disclose the interest rate, fees or repayment period at Wednesday’s launch at Centenary Bank’s headquarters in Kampala.

The move gives Centenary Bank access to Airtel’s mobile money customers at a time when digital lending is growing rapidly. 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, Centenary Bank’s managing director, said the partnership would reach more customers looking for quick loans.

“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.

Kwaata Sente adds to the bank’s existing digital channels: GonzaPay, CenteMobile, internet banking and agent banking.

Byekwaso said the rollout would focus on transparency and responsible lending, and that customers should understand the charges, repayment dates and penalties for late payment before borrowing.

“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 borrow without paperwork or a trip to a bank, and named small business owners and traders as likely users.

“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.