MoFlex is a mobile centric banking service offered to Mobile Money Rwanda Ltd customers by Ecobank
through the Mobile Money channel. MoFlex is a suite of banking products that are offered to Mobile
Money Rwanda Ltd customers to enhance the Mobile Money Rwanda Ltd value proposition. MoFlex
offers Loan products that are convenient, reliable and cost-effective for taking micro-loans.

Following the successful roll out of MoKash, Ecobank and Mobile Money Rwanda Ltd have collaborated
with a common goal to extend and deepen financial inclusion in Rwanda, with a roll out of a similar
digital credit product that is offered to all Mobile Money Rwanda Ltd customers.

➢ Be a registered MTN Subscriber.
➢ Have a National ID registered on your SIM card
➢ Be above 18 years and more than 90-day age in network
➢ Be a registered Mobile Money Rwanda Ltd customer.
➢ Have an active Mobile Money Rwanda Ltd account/wallet.

A customer gets short-term loans with MoFlex.
4.1 What are the benefits of MTN MoFlex?
➢ Convenience of mobile banking i.e. you can transact from the comfort of your    location
➢ Paperless (mobile centric), safe and fast service.
➢ No minimum balance.
➢ No ledger fees.
➢ No transactional charges while moving money between MoFlex and Mobile Money Rwanda Ltd.
➢ Competitive interest rates.
➢ Access to micro credit facilities.

Quick access to credit.
➢ Loan repayment period is 30 days.
➢ One-time facility fee of 7, 8 or 9%.
➢ If the loan is not paid within the selected tenure (7, 14, or 30 days), the customer can roll over
the debt for another period at a rollover fee of 3.5% of the outstanding principal per week, for a maximum of 4 weeks.
➢ Loan is disbursed directly to the customers Mobile Money Rwanda Ltd wallet.

To qualify for a loan all a customer needs to be is a Mobile Money Rwanda Ltd subscriber for at least 6
months, and actively use other MTN services such as voice, data and MoMo.

Once enrolled to MoFlex, the initial credit limit is determined by utilization on the following services:
MTN Voice, Data and Mobile Money Services and is influenced by how long the customer has been on
the MTN network. Please note based on these parameters a customer may fail to qualify for a limit.
Subsequent limit reviews are based on a customer’s average MoFlex loan performance i.e. loan uptake
and repayment.

Simply dial *182*5#, choose option (4) for MoFlex, the limit is displayed on the menu (2)

The customer will receive the full loan amount requested. The facility fee comes as an additional
amount, over and above the principal amount. For example, if a request is placed for a loan of Rwf
1,000, the customer will receive the full loan amount requested and will be required to pay Rwf 1,070;
Rwf 1080 and Rwf 1,090 for a 7 day ,14 day and 30 day respectively

Minimum amount is Rwf 1,000 Maximum amount is Rwf 1,300,000 but is subject to customer credit
limit (Your initial credit limit is computed based on your utilization on the following services: MTN Voice,
Data and Mobile Money Services and is influenced by how long the customer has been on the MTN
network.)

The loan is payable within the selected tenure (7, 14, or 30 days). However, you can repay the loan
before the due date and borrow again. If a customer repays the loan before the end of their selected
tenure, they increase their chances of growing their MoFlex loan limit.

Dial *182*5# and select:
i. Option (4) for MoFlex
ii. Enter PIN
iii. Option (2) for RePay Loan

Enter the amount you wish to pay and confirm the transaction by entering your Mobile Money PIN

➢ If a customer has a deposit balance in their Mobile Money wallet, the loan will automatically be
repaid from this account. The loan may attract a roll-over fee of 3.5% per week (for a maximum
of 4 weeks), which is added to the outstanding principal amount if the balance in the Mobile
Money wallet is not sufficient to settle the loan. The loan is then extended based on the
applicable rollover period.
➢ Additionally, the customer risks losing their credit limit and being blacklisted from MoFlex
services and other related Mobile Money services. The services include but are not limited to;
access to subsequent MoFlex loans.
➢ Information related to a customer’s repayment history will be shared with other lenders
including Banks, through the credit reference bureaus licensed by the National Bank of Rwanda.
➢ The customer may consequently be denied loans by other lenders based on the negative credit
history.
➢ The customer may be denied participation in future MoFlex Promotions and rewards

➢ If a customer has a non-performing loan with any other financial institution, they will be
restricted from borrowing on MoFlex until the loan is fully settled or the arrears are cleared.
➢ if a loan Is overdue/ past the due date the limit is frozen for the 7 day, 14 day and 30 days
➢ When a MoFlex loan is 90 days old, the customer’s limit is reduced to 0

The outstanding loan balance will be paid off, and the extra amount will be moved to the customer’s
MoMo wallet