Mokash vs Wewole what is the best service? – Techjaja


Mobile loans are rescue calls in tough situations and Mokash has now loaned more than UGX 100 billion to its customers

The financial scenarios have become really intense and almost 3 in 5 people we interact with on a daily basis are faced with a course of events that forces them to take quick cash.

Quick loans are undoubtedly very beneficial during our times of need and that is why the need for a convenient and faster partner to help you with that money becomes inevitable. MTN and Airtel offer their customers the possibility of benefiting from MoKash and Wewole respectively, a mobile money product that allows users to save and borrow short-term loans without the bureaucratic difficulties people face when trying to access loans from banks and financial institutions.

MTN’s Mokash was the first service to debut in 2016 and saw significant success in its early days, then we saw the introduction of Wewole a year later in 2017 by Airtel. MTN is undeniably the leader in the mobile money industry with its agents almost everywhere, but that’s no guarantee that Mokash is the best product. Wewole combines the platform almost feature by feature with more advanced and distinctive attributes.

We will do a brief comparison of the main features that determine the date of services, loan limits and repayments plus interest charges and give you the ultimate deciding vote to choose which one is the best service among these two.


MTN being the pioneer of this service, displays unmatched superiority with regard to the functionality and functionality of their platform. Mokash currently has auto-save features that allow users to automatically save to the platform, they can choose from daily, weekly, or monthly options to return their savings to the platform. This is truly an essential addition to the service, as the platform uses a backup algorithm to grant to increase your borrowing limit.

Airtel Wewole, on the other hand, does not come with all the essential features, but has a huge advantage in that your borrowing limit is predetermined from how much you use the Airtel money service. It also allows Airtel Money agents to borrow money on the platform, which is an additional feature missing on Mokash.

Loan limit

Loan limits are the main reason people choose to use these platforms because after all we are all looking for fast cash right? But unfortunately the bad news is; all of these services require a user to have an active transaction history with their respective mobile money services for a period of at least 6 months or more before they can access loans.

Majority of my friends have had issues when trying to sign up for Mokash, they get an error message that prompts them to call customer service for help which is also a no-go pursuit. issue. The minimum amount that can be borrowed is 3,000 UGX up to a maximum of 1,000,000 UGX.

It was much faster and easier to get Wewole loans from personal experience, but my loan limit was extremely low because my transaction history was also modest. Users can borrow between 8,000 and 500,000 UGX and agents between 100,000 and 1,000,000 UGX.

For your loan limit to increase both parts, a requirement of a good credit history for your borrowing limit to increase, which means that if you pay off your loan early or on time the chances are high the limit will increase and vice versa.

Date and method of repayment of the loan

Airtel’s Wewole displays a much more convenient and flexible repayment method than its Mokash counterparts. Airtel allows a user to voluntarily repay their loans even if the repayment date has passed, it does not automatically debit your mobile money balance in case you receive money in your account and even when it does, it does takes some of what you have. receipt and leave the rest for your use. The borrower has a choice of 3 loan repayment periods of 7.14 or 21 days and all have different interest rates, but if you pay your loan on time, your next loan offer will have a repayment option. 60 days. That’s not all, you also get lower loan fees for your time.

Mokash is more strict about repayment dates, the moment you fail to repay the loan, they deduct your money the moment you get money in your mobile money wallet. However, aside from the 30 day repayment date, they give you plenty of time to clear your debts with enough messages reminding you.

Interest charges

On MTN’s Mokash, when you apply for the loan, it is expected to pay within 30 days with 9% interest as a facilitation fee, but if you miss the deadline another An additional 30 day deferral is extended for the customer with a further 9% interest on top of the original amount to pay off the loan. Another interest offered by MTN is the savings customers make to the system, here is the breakdown of the interest you earn based on the amount saved.

Amount Interest
UGX 1 to 300,000 2%
UGX 300 001 to 800,000 3%
UGX 800 001 – 1,600,000 4%
UGX> 1,600,001 5%

Airtel however determines the interest according to the repayment period you have chosen with the minimum rate of 6.75% and the highest of 15%. Wewole does not allow users to save money on the platform so that they do not offer interest on savings.

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