The idea:

Peer to Peer Lending through Mobile Money

This a product that offers an opportunity for lenders to register into a service that attaches them to a large network of borrowers. Lenders can stipulate the interest rate, term of loan, and amount category (e.g. 1-100 K; 101-500 K). To apply for the loan, borrowers scroll through the terms within each categories, and choose what works best for them. When this happens the lender can look at the borrower's credit history (based mobile money transaction records) and decide whether to accept or reject the loans.

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Julius Matovu
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