Airtel Networks Zambia Plc has refrained from addressing partner-specific concerns related to Zedfin, directing inquiries to the organization directly.
The Zambian Business Times (ZBT) has received various service complaints related to microloan offers, particularly those from Zedfin, available on Airtel Money.
In an inquiry to Airtel, ZBT raised several pressing questions, seeking insights into the management’s awareness of the situation, the volume of daily complaints, interest rates charged by these platforms, and the company’s handling of customer disputes concerning charges and fees.
In response to the inquiry, Airtel emphasized its commitment to driving digital financial inclusion and providing access to affordable loans.
However, the company refrained from addressing partner-specific concerns related to Zedfin, directing inquiries to the organization directly.
The ZBT’s inquiry also drew attention to the exorbitant interest rates, with some surpassing 60% per annum and even exceeding 100% per month.
Some of the questions raised by ZBT to Airtel questioned if the network is aware of the number and high volume of complaints per day which some of their clients had informed ZBT went unattended to.
Airtel also declined to address concerns as to whether they vet their platform micro-loan partners in terms of whether they are charging exhorbitant or exploitative interest rate as well as if the network and it’s mobile money platform was aware that the complaints had reached a crisis?
