UK-based and Africa-focused startup Lendme has kick-started its mobile airtime loan service in Zimbabwe.
The platform permits subscribers to borrow credit worth up to USD20 to top up their pay-as-you-go mobile account. Lendme promises not to charge users if the loan is paid back within seven days, and subscribers will not need to commit to a contract.
“We don’t charge you a single cent! Just register, there are no strings attached,” the company says on its website.
The mobile credit can be paid back using a Lendme e-voucher, sold at over 500 merchants in Zimbabwe, or using an EcoCash Mobile wallet from Econet Wireless.
The e-voucher denominations range from USD0.25 to USD5.00.
“We recognise the inherent burdens airtime pre-payment inflicts on consumers hence, we have launched Lendme Airtime in Zimbabwe,” said Michael Charangwa Co-Founder.