Astro is getting ready to introduce a very interesting platform called Eshagi, a mobile app that will allow Zimbabweans to apply for instant loans at the comfort of their homes with instant approvals.
What is more interesting is that this app is not just targeting the traditional market which is civil servants via the Salary Service Bureau (SSB) or defense forces or ZAPAR platform but goes beyond this market as they seek to save both those in the formal and informal sector to capitalize SMES and the informal sector.
The service is also extended to personal loans service which only needs one to input personal details for banks to do their Know Your Client verification, obviously to help them against potential fraud, before processing the application,
We are yet to fully understand which other financial institutions are they going to be riding on but rumors has it that it will be mainly riding on the CBZ bank platform.
There are still questions on how much they are giving as the maximum limit for their loan service, Interst rates, issues of any collateral security for non-civil servants and how SMEs will repay if they are not on the SSB payment platform.
However there is much excitement on the instant capabilities, as they launch the service over the lockdown, much relief to the locked down citizens .
However the service is highly anticipated to we officially launched this week, with a source close to developments stating that its now all systems go, as they seek to financially empower Zimbabweans at the comfort of their homes