Mobile money agents are the engine of Uganda’s everyday economy, and this is most visible on weekends. From Friday evening through Sunday, transaction volumes surge as customers trade, pay, and move money.
The dfcu Weekend Agent Float Loan was designed with one clear purpose: to ensure agents never lose business simply because they have run out of float when demand is highest.
Douglas Nidoi, Ecosystems Manager at dfcu Bank, answers some of the most frequently asked questions about the product.
Q: What is the dfcu Weekend Agent Float Loan?
The dfcu Weekend Agent Float Loan is a short-term, fully digital loan designed specifically for MTN MoMo agents. It provides working capital, commonly known as float, to support agents during weekends when transaction volumes peak.
The loan is accessed via the MTN MoMo USSD code *165*5*3#. Once approved, funds are credited instantly into the agent’s float wallet, enabling uninterrupted service to customers.
Q: Why was the Weekend Agent Float Loan introduced?
A:
Weekends are peak business periods for mobile money agents, yet access to traditional banking credit is often limited during this time. dfcu introduced the Weekend Agent Float Loan to bridge this gap, helping agents meet customer demand, increase transaction volumes, maximise earnings, and continue supporting grassroots businesses across Uganda.
Q: Who is eligible for the dfcu Weekend Agent Float Loan?
Eligibility is based on responsible and consistent use of the MTN MoMo platform. To qualify, agents must:
• Have been active on MTN MoMo for at least six months
• Demonstrate sufficient transaction volumes
• Maintain a good credit and float management history
• Accept the loan’s terms and conditions
• Be flagged as eligible on the system
Q: How much can an agent borrow?
Agents can borrow between UGX 1,000,000 and UGX 5,000,000. Loan limits are personalised, not fixed. dfcu applies a credit-scoring model that considers transaction history, repayment behaviour, and overall business performance.
Agents who transact consistently and repay on time may qualify for higher limits over time, supporting sustainable business growth.
Q: When is the loan available, and how long is the repayment period?
The loan is available strictly from Friday at 00:00 hours to Sunday at 23:59 hours. Once taken, agents have up to three days to repay, starting from the day of borrowing.
Q: What costs are associated with the loan?
A fixed access fee of 1.5% applies for the full 72-hour loan period. If repayment is delayed, a penalty fee of 1% per day is charged on the overdue balance for up to two days.
There are no registration fees, no service charges, and no taxes, ensuring full cost transparency.
Q: Can an agent repay early or make partial repayments?
Yes. Agents are encouraged to repay early whenever possible. Both partial and full repayments are supported and can be made using the same USSD code *165*5*3#.
Q: Where can agents get more information or support?
Agents can access support through:
• MTN MoMo Customer Care on 100 or 128
• WhatsApp on 0772 122 100 or 0772 123 100
• Social media via @MTNMoMoUG
• Their assigned field supervisor
Support is readily available to ensure a smooth and reliable experience.
