The launch took place on 3rd December at Mövenpick Hotel Kigali, marking an important step forward in our mission to make financial services more accessible and inclusive for all Rwandans. K’avance is an overdraft facility that allows eligible MoMo users to carry out essential transactions—such as sending money, making merchant payments, or purchasing airtime—even when their account balance is too low to complete the transaction.
How to Access K’avance
Customers can access the K’avance service by:
1. Dialling *182*5*2#
2. Following the prompts to review and accept the Terms & Conditions
3. Receiving notification of their credit limit once approved, after which they can begin using K’avance.
Speaking at the launch event, MoMo Rwanda Ltd CEO Chantal Kagame said: “K’avance is another milestone in our journey to provide practical financial solutions tailored to our customers’ needs. We understand that access to small, timely credit can make a big difference in Rwandans’ daily lives, and K’avance is here to fill that gap.”
Puneet Chopra, Chief Growth Officer at Yabx Technologies, said: “With K’avance, we’re addressing the real liquidity challenges faced by Rwandans in their daily lives. The service ensures that customers can access responsible, data- driven credit when they need it most—fostering inclusion, trust, and participation in Rwanda’s growing digital economy".
"Powered by Yabx’s advanced digital lending technology, K’avance is the first product of its kind in the market, combining cutting- edge innovation, local insight, and strong institutional partnerships to bring seamless access to financial support at the tap of a button.”
Benjamin Mutimura, CEO of I&M Bank (Rwanda) Plc, added: “K’avance is a strong example of how innovation and strategic partnerships can unlock meaningful impact. With this collaboration, we are delivering solutions that are not only timely but also relevant to the evolving needs of our customers. We remain committed to driving inclusive innovation that brings formal financial services closer to everyday life.”
MoMo Rwanda encourages all customers to explore this service and take advantage of the convenience and flexibility it offers. Eligibility for K’avance is based on customer behaviour and scoring by TransUnion Rwanda, ensuring responsible access to credit. -END- About Mobile Money Rwanda Ltd Mobile Money Rwanda Ltd is MTN Rwanda’s FinTech subsidiary, established on 27th April 2021 to provide and manage Mobile Money services in Rwanda.
The company has more than 5.1 million subscribers, over 65,000 Mobile Money agents, and over 560,000 MoMoPay merchants across the country. With continuous innovations in services such as MoMoPay, MoKash Loans & Savings, Tap&Go bus payments, Bill Payments, International & Regional Remittances, and more, Mobile Money Rwanda is at the forefront of driving financial inclusion and supporting the digital economy in Rwanda.
Yabx Yabx is a leading fintech company focused on expanding financial access across Africa through innovative digital credit solutions. By leveraging advanced data analytics and strategic partnerships, Yabx delivers tailored lending products that bridge credit gaps, uplift micro-enterprises, and foster sustainable economic growth.
I&M Bank (Rwanda) Plc Incorporated in 1963, I&M Bank (Rwanda) Plc is the oldest Bank in Rwanda. It is today one of the leading players in the industry with a strong footprint across the country. I&M Bank Rwanda offers the full range of personal, business, institutional and corporate banking products throughout its locations.
The Bank has been listed on the Rwanda Stock Exchange since March 2017. The Bank is also a subsidiary of I&M Group PLC, a leading regional financial services group in Eastern Africa with a presence in Kenya, Tanzania, and Uganda as well as a joint venture in Mauritius.
I&M Group has a long history in banking and has established a wide network of correspondent banks across the globe and enjoys a strong relationship with leading international Development Financial Institutions.
MoMo Rwanda, YABX Technologies and I&M Bank launch K'Avance-An innovative overdraft solution for MoMo customers