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Mobile Money Loans in Ghana: All You Need to Know.

Since its introduction in Ghana several years ago, mobile money has proven to be a godsend to a large number of people.

Users can also take out loans through their cell phone service providers, in addition to being able to utilize mobile money to quickly save money, and transfer money to family and friends on the go.

In the first place, why would someone require a short-term loan? Because many Ghanaians have lost all or part of their income, particularly during this worldwide pandemic, dealing with finances and paying bills has become even more challenging.

If you don’t have an emergency fund and are having difficulty making ends meet, don’t panic; you are not alone in your financial predicament.

Despite the fact that government economic impact payments may be beneficial, you should look into other options for borrowing money, such as rapid online loans that can be paid back in a short amount of time.

To begin, you’ll need a smart device (phone, tablet, or other similar devices) in order to access the lending apps I’ve included in this list. It’s worth noting that there will be no lengthy documents. To get your cash, all you need is a smartphone and an internet connection.

In this post, we are going to provide a detailed guide about the top mobile money platforms available in Ghana. Make sure you read this post to the end in order not to miss out.

What is an online loan in Ghana?

Mobile loans are quick loans that an individual can get online without much hassles and with no collateral, they are the complete opposite of loans offered by traditional money banks. Mobile money loans are for individuals who need quick funds to settle personal or business needs. Over the years, Ghana has seen a steady rise in mobile money lending platforms. Some offer other financial technology services aside from mobile money loans.

What are instant mobile money loans in Ghana?

  • MTN Mobile Money
  • FIDO
  • Vodafone Ready Loan.
  • MTN Express Loan
  • Ahomka Loan

  • MTN Mobile Money

MTN Mobile Money is a mobile money service provided by MTN. If you are a regular user of MTN Mobile Money, you can quickly and conveniently apply for a short-term loan through the QWIKLOAN service, which can be accessed via your mobile phone.

How can I get a loan from MTN Ghana?

To register and apply for a loan, dial the MTN Mobile Money short number *170#, select Financial Services, Loan, and Option 1 from the drop-down menu.

If your application is approved, you will receive the funds into your MTN MoMo wallet almost immediately after submitting it.

This way of obtaining loans is quick, easy, and does not involve the completion of any documentation.

What you need to know about MTN QwikLoan is outlined below.

  1. You do not need to have any past funds in order to qualify for the loan.
  2. You have thirty days to pay back the loan.
  3. The minimum loan amount is GHc 50, while the highest loan amount is GHc 1000.
  4. You are only permitted to have one loan at a time.
  5. If you haven’t paid off your previous loan, you won’t be able to apply for a new one.

  • FIDO Loans (Financial Institutions for Development Organizations)

When you use FIDO, you may get a loan quickly and easily. All you have to do is apply for the loan on your mobile phone in a few simple steps; there is no need to provide collateral or a guarantee.

FIDO loan is represented by a short code (MTN, Vodafone)

To apply for a fido loan, dial the MTN short code *711*999#, to get your FIDO loan right away.

Keep in mind that you must repay your loan on time in order to be eligible for another loan in the future. For more information, please contact FIDO at 030 220 8058 or 024 243 6885.


  • Vodafone Ready Loan.

Vodafone ready loan was launched as a competition to MTN’s Qwik loan. Vodafone is already one of the largest telecommunication companies in Ghana, and this new offering is a piece of exciting news for all users of Vodafone.

How to get Vodafone ready loan?

To get Vodafone ready loan, you need to follow the steps outlined below. But first things first you must have been a Vodafone user for at least three months.

  • To gain access to the Vodafone Cash menu, dial *110#.
  • Option 5 should be selected (financial services)
  • Option 3 should be selected (loans)
  • Select ‘Ready Loan’ from the drop-down menu.
  • Select ‘Ready Loan request’ from the drop-down menu.
  • Choose ‘Opt In’ from the drop-down menu.

You will then receive a notification indicating whether or not you are eligible for the program. If you are experiencing any difficulties, you can contact Vodafone Ghana customer support to file a complaint.


  • MTN Express Loan

MTN has set a record in mobile money offerings in Ghana that is sure difficult to beat. MTN Express is another offering by MTN to special customers. This loan can be accessed by dialing *170#.


  • Ahomka Loan

This is another loan by MTN. This loan is for selected MTN customers who are facing serious financial difficulties and needs some succor in form of funds. This loan does not require any form of collateral or documentation.

How to Borrow from Ahomka?

  • To gain access to the loan menu, dial *170#.
  • Option 5 should be selected (financial services)
  • Option 3 should be selected (loans)
  • Select ‘Ahomka Loan’ from the drop-down menu.
  • Select ‘Get a Loan’ from the drop-down menu.
  • Enter your mobile pin and code.

Where does the recipient receive the loan in Ghana?

Recipients of Mobile money loans in Ghana receive loans in their mobile wallets. When the funds are transferred to your mobile wallet either MTN or Vodafone, you can then transfer the funds to your bank account number.

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