The mobile lending industry in Uganda has experienced tremendous growth in recent years, driven by widespread mobile money adoption and increasing smartphone penetration. With mobile money transactions reaching approximately UGX 109 trillion annually and over 30 million mobile connections nationwide, digital lending has become an accessible financial solution for millions of Ugandans.
Mobile loan apps offer instant credit without the need for traditional bank visits, collateral, or extensive paperwork. These platforms use innovative technology to assess creditworthiness based on mobile data, transaction history, and other digital footprints, making loans accessible to previously underserved populations.
Comprehensive List of Mobile Loan Apps in Uganda
| App Name | Loan Amount Range | Loan Term | Interest Rate/APR | Key Features | Access Method |
|---|---|---|---|---|---|
| Fido | UGX 40,000 – 1,000,000 | Flexible | Varies based on credit score | AI-powered credit assessment, no collateral, instant approval, Fido Score system | App, USSD: *998# |
| Zenka Finance | UGX 50,000 – 500,000 | 61-365 days | 2.45-39% (APR: 30-4432%) | Instant disbursement to mobile money, launched 2025 in Uganda | Mobile App |
| Branch | Varies | Flexible | Competitive rates | User-friendly interface, instant loans, no collateral required | Mobile App |
| Tala | Varies | Flexible | Competitive rates | Quick approvals, personalized loan offers, builds credit history | Mobile App, SMS: 21991 |
| Azima Instant Loans | UGX 60,000 – 500,000 | 1-30 days | Varies (1 day no interest) | Samsung phones only, licensed by UMRA, instant verification | Mobile App (Samsung) |
| Mangu Cash | UGX 60,000 – 400,000 | 91-365 days | Varies | Simple application, no collateral, quick processing | Mobile App |
| Kasente | UGX 30,000 – 1,000,000 | 91-365 days | Max 30% APR | Flexible repayment (daily/weekly/monthly) | Mobile App |
| SweetLoan | UGX 90,000 – 600,000 | 90-365 days | 12-50% APR | Available 24/7, one-time or monthly repayment options | Mobile App |
| Secure Loan | UGX 30,000 – 1,000,000 | 91-365 days | 7-180% APR | Online/offline payment options, no prepayment penalty | Mobile App |
| Numida | Up to UGX 60,000,000 | Flexible | Business rates | Business loans for SMEs, 24-hour processing, licensed by Bank of Uganda | Mobile App |
| FairMoney | Varies | Flexible | Varies | 5-minute processing, no collateral, direct to mobile wallet | Mobile App |
| Pezesha Uganda | Up to UGX 60,000,000 | Flexible | Business rates | SME loans, embedded financing, cash flow based lending | Mobile App |
| PesaLend (PesaSave) | Varies | Flexible | Varies | Employee-focused emergency credit, flexible terms | Mobile App |
| Smart Loan Uganda | UGX 100,000+ | Short term | Varies | Quick 5-minute approval, individual consideration | Mobile App |
| Soft Cash Loans | Varies | Flexible | Varies | Fast approval, easy funds, seamless experience | Mobile App |
| OKLoan | Varies | 91-365 days | Varies | Online loan service, no paperwork | Mobile App |
| Platinum Credit | Varies up to UGX 50,000,000 | 3-96 months | Varies | Multiple loan products (Civil Servants, Logbook, SME, Private Sector) | Physical branches & App |
Bank-Based Mobile Loan Services
| Service Name | Provider | Loan Amount | Loan Term | Interest Rate | Access Method |
|---|---|---|---|---|---|
| MTN XtraCash (MoKash) | MTN Uganda & PostBank | UGX 3,000 – 1,000,000 | 30 days | 9% of loan amount | USSD: 1655# |
| Airtel Quick Loan | Airtel & Housing Finance Bank | Varies | 15 days | 2% application fee + 1% daily | USSD/Mobile Money |
| FINCA Mobile Loan | FINCA Uganda | UGX 20,000 – 500,000 | 1 month minimum | Varies | USSD: *230#, Mobile App |
| Equity Eazzy Loan | Equity Bank Uganda | Up to UGX 3,000,000 | Up to 30 days | 4-9% monthly (reducing balance) | Mobile App |
| Stanbic Instant Cash Advance | Stanbic Bank | Up to UGX 50,000,000 | Flexible | 7% (below UGX 2M), 3.5% (above UGX 2M) | Mobile Banking App |
| CenteMobile | Centenary Bank | Varies | Short term | Varies | USSD: *211#, Mobile App |
| Trust Mobile Loans | Finance Trust Bank | Varies | Flexible | Varies | Mobile App |
| Ugafode Microfinance | Ugafode | Varies | Flexible | Varies | Mobile App |
Additional Loan Apps
The following apps have also been mentioned in various sources as operating in Uganda:
- Haraka Loan App
- Jazika Loan
- Bayport Uganda
- Borrocracy
- SC Mobile Uganda (Standard Chartered)
- Aspire Mobile Loan
- Easy Mobile (EFC Uganda)
- Barclays Timiza (Note: Absa Bank post-rebranding)
- Yetu Loan
- PesaPata
- PalmLoan
Key Considerations Before Applying
1. Licensing and Regulation
Always verify that the lender is licensed by the Uganda Microfinance Regulatory Authority (UMRA) or a recognized financial institution. Legitimate lenders will display their licensing information.
2. Understanding APR
The Annual Percentage Rate (APR) represents the total cost of borrowing, including interest and fees. Compare APRs across different platforms to find the most affordable option.
3. Basic Requirements
Most mobile loan apps require:
- Valid National ID or Passport
- Active mobile phone number
- Mobile money account
- Minimum age (typically 18-20 years)
- Some apps may require bank statements or proof of income
4. Credit Score Impact
Timely repayments improve your credit score and increase future borrowing limits. Late payments can reduce your creditworthiness and incur additional fees.
5. Hidden Fees
Carefully review all terms and conditions. Watch for:
- Late payment penalties
- Processing fees
- Rollover charges
- Early repayment penalties (though many apps don’t charge these)
6. Data Privacy
Ensure the app complies with Uganda’s data protection regulations. Legitimate apps should be certified by the National Information Technology Authority Uganda (NITA-U).
How Mobile Loans Work in Uganda
- Download & Register: Install the app from Google Play Store or Apple App Store and create an account
- Verification: Submit required documents (usually just National ID)
- Loan Application: Select loan amount and repayment period
- Credit Assessment: AI algorithms assess your creditworthiness based on various data points
- Approval & Disbursement: Funds are sent directly to your mobile money wallet or bank account (usually within minutes to 24 hours)
- Repayment: Pay back through mobile money, bank transfer, or automated deductions
Benefits of Mobile Loan Apps
- Accessibility: Available 24/7 from anywhere
- Speed: Instant or same-day approval and disbursement
- No Collateral: Most apps offer unsecured loans
- Convenience: No branch visits or lengthy paperwork
- Credit Building: Helps establish financial history
- Flexible Terms: Various loan amounts and repayment periods
Risks and Warnings
- High Interest Rates: Some apps charge significantly higher rates than traditional banks
- Over-borrowing: Easy access can lead to debt cycles
- Data Privacy Concerns: Apps require access to personal information
- Aggressive Recovery: Some lenders may use harsh collection practices
- Hidden Charges: Always read the fine print
Uganda’s mobile loan app ecosystem offers diverse options for individuals and businesses seeking quick credit. From small emergency loans of UGX 30,000 to business loans exceeding UGX 50,000,000, these platforms have democratized access to financial services.
However, borrowers should exercise caution, compare options carefully, and only borrow what they can afford to repay. Always prioritize licensed and regulated lenders, understand all terms and conditions, and maintain good repayment habits to build a positive credit history.
The mobile lending industry continues to evolve, with new apps entering the market regularly. Stay informed about regulatory changes and emerging platforms to make the best financial decisions for your needs.
Disclaimer: This list is compiled from various sources and represents the mobile loan landscape as of late 2024/early 2025. Loan terms, interest rates, and availability may change. Always verify current terms directly with the lender before applying. This information is for educational purposes only and does not constitute financial advice.
