• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Qwikloan Disbursements Record Circa 500% Surge to GHS 2.8bn in First Half of 2024

1 year ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
A customer counts Ghana cedi banknotes at the Nima market in Accra, Ghana on Monday, March 11, 2024

A customer counts Ghana cedi banknotes at the Nima market in Accra, Ghana on Monday, March 11, 2024

713
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Qwikloan Disbursements Record Circa 500% Surge to GHS 2.8bn in First Half of 2024

Letshego Ghana has reported a substantial surge in its mobile loan disbursements (Qwikloan), reaching GHS 2.8 billion in the first half of 2024.

This represents an extraordinary 498% (approximately 500%) increase compared to the GHS 476.5 million disbursed in the corresponding period of 2023.

This was disclosed by Sam Donkor, Chief Commercial Officer of Letshego Ghana during the company’s half-year performance presentation at the Ghana Stock Exchange’s (GSE) Facts Behind The Figures event on Wednesday, July 31, 2024.

The significant growth in disbursements, which benefited over 6.5 million customers, underscores the expanding reach of Letshego’s Qwikloan product.

The breakdown of loan utilization reveals that 37% of borrowers directed funds toward business activities, 24% for tuition fees, 15% for emergency situations, and 8% each for bill payments and medical expenses.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Mr. Donkor emphasized the dual impact of the Qwikloan product, highlighting both shareholder value and substantial contributions to financial inclusion.

He pointed out that additional access to cheaper funding sources would further enhance the product’s reach, particularly in rural areas that remain underserved by the formal financial sector.

“The Qwikloan product is not only providing value for shareholders but is also impacting and touching lives and if the company were to get cheaper funding sources, it would really be helpful and impactful for customers in rural areas who are mostly excluded from the country’s formal financial sector,” he quipped.

Cumulatively, Letshego’s Qwikloan product has disbursed GHS 18.8 billion to date. The Qwikloan constitutes 60% of Letshego Ghana’s portfolio mix, with the remaining 40% accounted for by Deduction-At-Source (DAS) loans.

Available via MTN Ghana’s mobile money platform, Qwikloan facilitates easy access to short-term, small-scale credit, empowering customers to build credit histories through responsible loan repayment practices. This approach aligns with Letshego’s commitment to enhancing financial inclusion and supporting sustainable economic ventures in Ghana.

Customers who demonstrate responsible loan repayments, unlock access to more capital, ultimately enabling Ghanaians to fund more productive and sustainable ventures.

Tags: GSELetshego GhanaQwikloanQwikloan Disbursements Record Circa 500% Surge to GHS 2.8bn in First Half of 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.