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MTN QwikLoan suspends Collection of Loan from Customers until End of COVID-19

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A shopper walks past an MTN shop at a mall in Johannesburg, South Africa, March 2, 2017. REUTERS/Siphiwe Sibeko – RC1A116E0960

Global telecommunication giant, MTN, in partnership with its mobile money service subsidiary MOMO has together issued a press statement informing its loyal customers that it would, with immediate effect halt the collection of money that have been borrowed by its customers and also suspend the deadline of collection until the coronavirus pandemic is over.

The statement which was signed by the CEO of the company Mr. Asenso Okyere and read by the company’s Public Relations Manager, Mrs. Ghali, detailed reasons why the company has had to come to such a resolution and why this was a necessity.

The one-page statement read “MTN MOMO with immediate effect suspends the collection of money owed by our customers. We also put an indefinite extension to the one-month time limit that loans are expected to be reimbursed.”

It continued, “MTN as a company understands that the nation and the people of Ghana are in very difficult times and we wish to do the least we can to help alleviate the burden and stress this pandemic has caused and continues to cause. The entire world is in grief with many people having to struggle with their very basic needs. The management of MTN doesn’t see it prudent for us to be tasking our customers with debt collection in such a tumultuous time.”

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