Macye Macye, a digital micro-lending product of Bank of Kigali in partnership with MTN Rwanda has attracted at least 14,000 smartphone loans in line with driving digital transformation in Rwanda.

The product, launched in November 2022, allows customers to acquire a smartphone and pay back in installments, as low as 200 Rwandan Francs per day.

The move seeks to bridge the digital divide by offering a more affordable system for people to acquire gadgets that help them tap into opportunities available in the technological world.

This is while MTN provides 98 percent network coverage for the entire Rwandan population, however, only 22 percent of them use the internet.

The Mobile Economy report 2023 indicates that 40 per cent of the adult population in Sub-Saharan Africa is connected to mobile internet services, however, 44 per cent of people living in areas covered by broadband networks do not use internet services.

The Macye Macye program has helped to bridge the digital divide by providing affordable access to the internet, allowing customers to stay connected and access digital services that were previously out of reach.

"Since the launch of the program, it has had a remarkable impact on digital inclusion and financial empowerment, with more than 14,000 loan bookings recorded. This is a testament to the positive impact of the program, which is designed to make smartphone ownership more accessible and affordable,” BK stated.

Of these loan bookings, 87 percent of the customers were not previously customers of Bank of Kigali, demonstrating the program&039;s effectiveness in reaching new and underserved segments of the market, the lender added.

Speaking at the launch previously, Diane Karusisi, CEO of BK, said that "We are constantly innovating to create digital products and campaigns that will allow us to serve Rwandans seamlessly, and this program speaks to our belief that everyone should easily access digital financial services.”

The program was recently recognized with the prestigious GSMA Chairman Award, further highlighting its impact on digital inclusion and financial empowerment in Rwanda.

This award recognizes initiatives that leverage mobile technology to drive positive social and economic impact.

How to get your smartphone with ‘Macye Macye’

For eligibility, MTN customers will be prequalified based on a credit score that is determined by their purchases of various telecommunications services such as Voice, Data, SMS, and Mobile Money over the last 12 months.

To register in the financing program and start the process of knowing the type of device they are eligible to purchase, a client can dial a USSD *182*12#.

Customers can pay for the device plan in daily, weekly, or monthly installments until the device is paid off or the total amount anytime.