Thiqa Digital Finance has partnered with Paymenow to enable Government employees in Uganda to get salary advances. The partnership will allow Uganda’s civil servants to have early access to their wages, interest-free, via a mobile app.
Speaking on the partnership, Danielle Lavan, Chief Executive Officer of Thiqa Digital Finance, said: “At Thiqa, we are developing innovative and ethical products in Africa, rooted in our core principles of fairness, transparency and partnership. Our mission perfectly aligns with Paymenow’s commitment to fair finance, and financial well-being across Africa. We are dedicated to empowering salaried workers across Uganda, and are excited to expand our offering with convenient access to affordable finance and financial educational tools. The Thiqa Paymenow product is unique and will address the daily and monthly cash flow challenges faced by most people between paydays, such as struggling to cover the essentials like food, utilities, transport and medication.
Group Chief Executive Officer of Paymenow Group, Deon Nobrega, commented, “We’re thrilled to join forces with Thiqa Digital Finance, who have an exemplary track record in terms of building Islamic and Shariah-Compliant financial solutions for the Ugandan market. The traditional monthly pay cycle often leaves employees unable to cover emergencies or seize immediate financial opportunities. With our EWA technology, users in South Africa, Zambia and Namibia gain early access to their earned wages, enabling them to address pressing financial needs. Together with Thiqa, we aim to empower Ugandans with the financial security and flexibility they truly deserve. Our embedded financial education tools will also equip Ugandans with the knowledge and resources to effectively manage their finances and build a brighter financial future.”
Established in 2019, Thiqa is a Ugandan Islamic fintech company pioneering Shariah-compliant financial solutions.
The Thiqa Paymenow Earned Wage Access solution will go live in Uganda on June 3rd, 2024. Initially, it will benefit select Ugandan civil servants, with plans to expand to cover up to a quarter of the entire workforce by year end.