Centenary Bank and Airtel Money launch Kwaata Sente digital lending

Centenary Bank, Airtel Money, gnuGrid Technologies, and Service Cops have launched Kwaata Sente, a mobile-based digital lending solution in Uganda. The service provides short-term credit to eligible Airtel Money customers, with loans starting at 10,000 Ugandan shillings.

The platform allows users to apply for and receive funds directly into their mobile money wallets without requiring traditional collateral or physical bank visits. Centenary Bank serves as the lender, while Airtel Money provides the mobile platform and customer network. gnuGrid Technologies manages credit assessment through digital scoring, and Service Cops provides the underlying technology infrastructure via its Vantage Loan Management System.

Centenary Bank Managing Director Godfrey Byekwaso noted that the partnership aims to expand financial services to a broader audience, including individuals who do not hold existing accounts with the bank. gnuGrid Technologies CEO Opio Obwangamoi David stated that digital footprints will be used to assess creditworthiness in place of conventional collateral.