BY KNA’s Peace Mbeti
Letshego Kenya, the largest credit microfinance institution in the country in partnership with Creditinfo Kenya has launched the ‘Letsgo cash’ App, a self-service loan product and short-term provider of instant loans.
An invention of the Microfinance Company, Letshego Kenya that provides loans to people across both private and public sectors, LetsGo cash offers a minimum amount of Sh1,000 and a maximum of Sh100,000 on loan repayment of 30 days.
The App also supports digital financial inclusion which enables people to build their credit records.
Letshego Kenya’s Chief Executive Officer (CEO) Adam Kasaine announced the launch of LetsGo cash as a loan product that has been developed in partnership with credit info Kenya.
He added that LetsGo cash offers quick access to funds anytime one requires money and it outshines traditional short-term cash because it is easily affordable, therefore offering immediate financial support to its customers.
The CEO stated that LetsGo Cash is another way the Company increases access to products and funds for more Kenyans, adding that it is inclusive finance in action and quick hassle-free cash at a competitive price, accessible via your phone or web.
“We are confident that the introduction of our instant loan product will revolutionize the financial sector in Kenya by enabling us to cater to a wider customer base and assist them in achieving their financial ambitions. We are delighted to collaborate with Creditinfo Kenya, a well-established credit bureau in the region, to make this product available to the public,” said Kasaine.
Speaking during the event, the CEO said that LetsGo cash can be accessed on the Company’s LetsGo Digital Mall and can also be downloaded via Android and Apple Play Store by clicking www.letsgo.letshego.com.
In his remarks, Letshego Kenya Chairperson Kungu Gatabaki disclosed that the goal of LetsGo Cash is to empower individuals by providing them with quick access to credit when they need it.
He added that LetsGo Kenya is committed to the innovation of products and services so as to make the company at the forefront of financial inclusion and make loans more accessible to everyone.
At the same time, Daniel Kanyi, Creditinfo Board Member for East Africa said that they share the same vision with Letshego Kenya, which is to provide financial solutions to the underserved and informal sector players.
He maintained that LetsGo cash will help people to participate in the digital economy in a very responsible manner noting that it has a good reputation for providing correct information on borrowers’ creditworthiness which will help them make good decisions.
“We are excited to partner with Letshego Kenya so as to bring cash to the market,” expressed Kanyi.
Concurrently, East and Southern Europe-Creditinfo Group Regional Manager Kamau Kunyiha, said that Letshego and Creditinfo collaboration is committed to providing finances to customers and working together to provide innovative financial solutions that meet the needs of Kenyan customers and Micro Small, and Medium Enterprises (MSMEs).
“We believe that access to affordable credit is a fundamental right, and we are committed to using technology and expertise to make this a reality for the Kenyan people,” Kunyiha reiterated.
He also said that LetsGo cash has the capability of building credit records for people through effective management of their loans and building of positive credit history and this will help customers access more finances in the future.