Card Pesa is keeping start-ups and individuals afloat with instant collateral-free loans

Regardless of how persuasive loan advertisements are, getting credit in Uganda is one complicated hustle; more so for those in the informal sector – who happen to be the huge majority.

When one visits a formal financial institution, the paperwork, waiting time and costs involved to process a loan become a huge turn-off. This forces many to turn to loan sharks who have outrageous conditions; despite having instant cash.

Many ask those seeking credit to sign off their collateral security as sale agreements with a mutual understanding that when the loan is repaid, the sale agreement will become null and void.

This particularly leaves those seeking credit between a rock and a hard place. Nevertheless, there are digital solutions that are closing this credit gap. One of those organizations that is revolutionizing and democratizing credit is Card Pesa.

Card Pesa is a tier-four Non-Deposit Taking Microfinance Institution that uses online and cellular platforms to provide small working capital and emergency loans. The Card Pesa platform is built to use USSD and online applications to deliver credit to you wherever you are for as long as you can connect to a telecom network. It is automated and therefore service time from the point you request for credit to the point you receive the credit is a matter of seconds.

The solution enables people access collateral-free working capital loans instantaneously to invest in their businesses so as to maintain or increase their earnings. It is also provides personal emergency loans to its subscribers. Instead of asking for physical collateral, CardPesa assesses the borrower’s creditworthiness and loan limits using five Cs – the borrower’s character, capacity, capital, available conditions in the environment and collateral – which in this case is in form of one’s biodata, references and one’s business or workplace.

According to Victoria Birungi, the Card Pesa Head of Operations, the company is committed to funding everyone’s hustle for as long as you prove that you are involved in a profitable activity, need money and have the capacity to repay. “We are extending loans for business and emergency services to different types of people. To get started, you are required to sign up to the platform by visiting

After signing up, our team gets in touch with you and your submitted references to confirm that the information you have given us is actually correct. Depending on how responsive you are, you will be able to access funds within 48 hours,” Birungi said; She added: “At the end of the day, all the steps you go through help find out that you are involved in an economic activity so that we are able to fund your hustle.”

Basing on one’s credit history on the platform, their limits can be increased to millions and even given better service plus longer repayment periods. To provide the loan service, Card Pesa integrated into Airtel Money, MoMo Pay and banks to easily provide instant credit to its clients.Card Pesa is the third participant to be showcased in the 2022 40 Days 40 FinTechs initiative.

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