FAQ
What is Majibu Africa?
Majibu Africa is a lending company that provides fast and convenient asset financing to clients. Our goal is to empower individuals and small businesses by offering them the financial resources needed to enhance the quality of their lives. Through asset financing, we aim to support the progress and prosperity of homes and communities.
What Products does Majibu Africa finance?
We offer a wide range of products designed to address the client’s specific needs, from household appliances like TVs, fridges to electronics like mobile phones, laptops and other appliances through specific retail partners.
How do I apply for a loan and how long does it take?
- Check your loan limit online or through our customer care line
- Visit our authorised retail partner with the required documents
- Our staff will submit your documents for approval
- Once approved, pay the deposit/ down payment through mobile money and take the item home!
- The process may take as little as 60 minutes!
What are the application requirements?
- Be 21 years old and above
- Be the holder of an original National ID card
- Have an active mobile phone number, under your name, registered for mobile money
- Have proof of employment or own a verifiable business
- Have proof of income – Stamped 6 month mobile money or bank statement
- Referee contact details (the contact must be available/online for verification)
- A minimum down payment amount for the selected product
- Present proof of current residential address
What is the loan payment period?
Our longest loan term is 1 year, however, we offer the flexibility to choose loan durations of 3, 6, or 9 months. Monthly repayments are required for all loan options.
How do I make my monthly payments?
All payments must be made via mobile money. Cash is NOT accepted.
What happens if I miss a payment?
Incase you miss a payment, our credit officer will reach out to find out what the problem is and advise on how to move forward. Payment delays must be communicated, documented and approved to avoid additional fees, penalties or reclaiming of the asset in instances of prolonged default.
Will I get weekly reminders about payments?
Yes, you will receive SMS reminders about your monthly payments. Please note that reminders will be sent to your primary mobile number.
What are the interest rates?
We always operate according to responsible and affordable lending principles. Our interest rates vary and are subject to credit history, affordability, and other relevant criteria. Please get in touch with us to learn more.
FAQ
What is Majibu Africa?
Majibu Africa is a lending company that provides fast and convenient asset financing to clients. Our goal is to empower individuals and small businesses by offering them the financial resources needed to enhance the quality of their lives. Through asset financing, we aim to support the progress and prosperity of homes and communities.
What Products does Majibu Africa finance?
We offer a wide range of products designed to address the client’s specific needs, from household appliances like TVs, fridges to electronics like mobile phones, laptops and other appliances through specific retail partners.
How do I apply for a loan and how long does it take?
- Check your loan limit online or through our customer care line
- Visit our authorised retail partner with the required documents
- Our staff will submit your documents for approval
- Once approved, pay the deposit/ down payment through mobile money and take the item home!
- The process may take as little as 60 minutes!
What are the application requirements?
- Be 21 years old and above
- Be the holder of an original National ID card
- Have an active mobile phone number, under your name, registered for mobile money
- Have proof of employment or own a verifiable business
- Have proof of income – Stamped 6 month mobile money or bank statement
- Referee contact details (the contact must be available/online for verification)
- A minimum down payment amount for the selected product
- Present proof of current residential address
What is the loan payment period?
Our longest loan term is 1 year, however, we offer the flexibility to choose loan durations of 3, 6, or 9 months. Monthly repayments are required for all loan options.
How do I make my monthly payments?
All payments must be made via mobile money. Cash is NOT accepted.
What happens if I miss a payment?
Incase you miss a payment, our credit officer will reach out to find out what the problem is and advise on how to move forward. Payment delays must be communicated, documented and approved to avoid additional fees, penalties or reclaiming of the asset in instances of prolonged default.
Will I get weekly reminders about payments?
Yes, you will receive SMS reminders about your monthly payments. Please note that reminders will be sent to your primary mobile number.
What are the interest rates?
We always operate according to responsible and affordable lending principles. Our interest rates vary and are subject to credit history, affordability, and other relevant criteria. Please get in touch with us to learn more.
