Mukuru users to get instant loans after JUMO partnership
- Mukuru launches Fast Loan, a mobile-first credit product for South African immigrants.
- Loans range from R100 to R8,000, with funds disbursed instantly to Mukuru Cards.
- Borrowers have 30 days to repay, with options for cash withdrawals at ATMs and partner retailers.
The collaboration between Mukuru and JUMO represents a significant step towards financial inclusion for marginalized populations in South Africa. By addressing the barriers faced by immigrants in accessing credit, this initiative not only empowers individuals but also strengthens the overall economy. Future discussions could explore the scalability of such models in other regions facing similar challenges.
