Orange Money N’stakolle Product Exceeds 1.5 Million Loans Issued To Customers!

  • The N’stakolle Loan Product introduced through a partnership between Orange Money Botswana and Access Bank Botswana has grown exponentially after only 7 months 
  • Over a million and a half customers have taken advantage of the N’stakolle Loan to meet their everyday needs

Orange Money N’stakolle Loan product was launched in November 2022 through a partnership between Orange Money Botswana and Access Bank Botswana with the intention of offering Orange Money registered customers access to affordable real time loans (nano loans).  

The product has proven to be a market favourite as over 1.5 Million loans have been issued in only 7 months since launch, this incredible milestone shows that the Orange Money N’stakolle product met and addressed a market opportunity and a high demand for low cost-low value loans; a reality which also influenced the most recent decision to increase the limits and the number of eligible customers who qualify for loans.

Said Orange Money CEO, Mr Seabelo Pilane, “Expanding financial inclusion lies at the core of Orange Money’s mission, an ambition which is reflected by our motto ‘Orange Money…All Day, Every Day’ which signifies how we, at Orange Money, continuously work to provide real world solutions that aim to meet key needs around our customers’ daily lives. Additionally, we believe that having the right strategic partners as we do in Access Bank Botswana is critical; the ability of the teams to work tirelessly to introduce Botswana’s first low cost, real time nano loan and have it become a success is truly inspiring and humbling.”  

The N’stakolle Loans were initially introduced with loan amounts ranging from P50 to P1200. Following increased demand from customers the thresholds were changed to start from P20 minimum up to a maximum of P2000. To access the loan, customers dial the Orange Money short code (*145#) and follow prompts, similarly repayment of the loan can be done through the Orange Money platform. Interest on loans range from 7.5% and 12.5% depending on the tenure of the loan which each customer chooses, the options for which are 3, 7, 14, 21 and 30 days.

“Orange Money is fully devoted to contributing to the growth and advancement of Botswana’s mobile financial services landscape. Our primary goal is to empower Batswana, allowing them to actively participate in the financial ecosystem with a sense of pride and dignity. We firmly believe that providing access to N’stakolle Loans plays a pivotal role in achieving this mission, concluded Pilane.

The simplicity and transparency of the N’stakolle Loan enables customers to have the freedom of choice to meet their financial needs promptly. By leveraging N’stakolle Loan’s real-time processing, customers are spared the need to wait in queues or endure time-consuming application processes.

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