Mobile Telecommunications Limited (MTC) and Letshego Micro Financial Services have launched Tamba Maris, a mobile microlending platform currently being rolled out under a controlled pilot phase.
The service, capped at N$2 million for its first month, will initially be available to 6,000 selected MTC customers, with plans to expand depending on regulatory approval.
“So, this product is going to be available to all MTC customers who are utilising MTC Maris products,” said Letshego CEO Melvin Angula.
“For the testing phase, in terms of control, we have capped it at about N$2 million for the first month, which will be monitored on a regular basis. We have also approved a list of 6,000 customers,” he said.
Delivered via USSD, the platform allows users to access instant loans ranging from N$100 to N$1,500, repayable over 7, 14, or 30 days. Interest rates vary by duration: 14% for 7-day loans, 18% for 14-day loans, and 22% for 30-day loans, averaging approximately 18% across the product range.
The pilot is being conducted within a regulatory sandbox created by NAMFISA and the Bank of Namibia, which enables controlled testing of financial innovations not yet covered by existing regulations.
Angula said loan disbursement takes less than 60 seconds and does not require internet access.
“Transactions are secured through MTC’s robust network and systems integration,” he said.
The platform is aimed at informal workers, gig economy participants, and underbanked Namibians without access to traditional financial services.
Loan applications are processed using automated Know Your Customer (KYC) and credit scoring systems powered by Credit Info, which rely on transaction data to build a user’s credit history.
Loans are repaid through the MTC Maris wallet, with tools for tracking balances and receiving payment reminders.
“It’s worked well in other countries. We’re very confident it will be a success. We’re looking at phased expansion,” said Angula.
If successful, Tamba Maris could eventually be extended to MTC’s full customer base of 2.7 million.
