Rating based on 12 reviews

MPOWA Finance

  • Short-term Loans up to R5,000
  • Low-interest starting from 36%
  • Repayment up to 12 months

In-page navigation

MPOWA Finance homepage
Author MPOWA Finance. Screenshot of MPOWA Finance website.
[Accessed May 11, 2023]

About MPOWA Finance

Mpowa Finance is the quickest and most reliable online microfinance company, popularly known as Mpowafin. Their offices are situated in Benmore, Johannesburg.

They’re known for fully processing loan applications and making their decision on the very same day you apply for your short-term loan.

Quick and easy way to get cash

They offer a quick and easy way to get your hands on cash with no paperwork involved.

They’ve developed a privacy policy to make sure that the personal information provided by you is carefully secured. This policy has been recently updated to accommodate changes to the law and Mpowa’s evolving policies.

The privacy policy also addresses how Mpowa complies with the obligations as required by the European Commission’s General Data Protection Regulation and the South African Protection of Personal Information Act.

Mpowa Finance understands your financial needs

They understand your financial needs and can make things easier for you if you require their short-term loan services. The rates they offer for their lending services go hand in hand with National Credit Act.

MPOWA Finance Services

Mpowa Finance is registered with the NCR.

Their short-term loan is ranked amongst the best and most affordable products available on the market. When you’re applying for the first time, you get free advice, and the application is carried out quickly and easily.

Anyone residing in South Africa qualifies for a loan from Mpowa. Manage your finances better and sign up with Mpowa Finance to get a short-term loan.

Are you an existing Mpowa Finance client?

The process is even easier for the returning applicants since their information is already on the Mpowa server.

In this case, you get paid immediately after an application. You’re charged zero fees if you previously applied for the loan and were approved and if you repaid it successfully. The terms and conditions, as to how much interest you’ll be charged, are clear and there’ll be no unexpected charges.

Why choose the Mpowa Finance loan

At Mpowa Finance, they have their client’s best interests at heart, and they’re the fastest growing business as they’re good at what they do. The fact that they do everything online saves you time and means that you don’t have to take a trip to their offices.

You won’t have to waste your time, taking time off from work to stand in long queues waiting for your turn to make an application. The loan agreement is made through a voice recording when applying for an online loan.

MPOWA Finance – Short-term Loan

  • Loan Type Short-term Loans
  • Interest Rate 3660% p/a
  • Loan Amount up to R5,000
  • Repayment 30 days to 12 months

Benefits of MPOWA Finance

  • Loans paid out same-day
  • 0% interest on your first loan
  • Free credit checks
  • Affordable loan options

Short-term Loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This short-term loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

How to apply for a Mpowa Finance short-term loan

Applying for a loan has never been easier with Mpowa Finance.

You can apply for a short-term loan by filling out the online application form available on their website. Or you can contact them at the number provided or send them an email. Their consultants will then quickly get back to you.

What do you need to qualify for Mpowa Finance services?

  • Be above 18 years of age
  • Reside in South Africa (permanently)
  • Have an active bank account with proof that there’s income deposited into the account each month
  • Employed for more than three months

After they’ve received your documents and have confirmed that you’re employed (for not less than three months), you should be approved and receive your cash on the same day.

You get exactly the amount you requested and signed up for, nothing more and nothing less. Communication with Mpowa Finance is crucial, be it if you change your job or bank account. Any changes that may affect your agreement should be communicated.

Benefits for first-time applicants

  • 0% interest on your first loan
  • A free credit check
  • Same-day loan approval

Like any other accredited lender, Mpowa Finance is bound by a lending policy to ensure responsible lending. Their low bad debt percentage is proof that MpowaFin’s lending criteria are in line with the lending industry’s standards.

No hidden costs on rates and fees

The loan repayment rates and fees have no hidden costs, you pay what’s set for the product you’ve chosen. There are no surprises after you’ve received your product.

It’s fast, secure, and paperless and it won’t be necessary for you to wait long periods to get the money. It’s a great way to get quick cash when you’re experiencing a shortage or an emergency.

You’ll get your short-term loan minutes after you apply. The waiting period is 24 hours or less. If you’ve made your application at 14h00, you can expect to receive your cash around 18h00, that’s four hours tops!

Getting cash has never been easier

You can apply and get your short-term loan deposited directly into your bank account on the very same day or the day after. Mpowa Finance charges 36-60% p/a for a loan of up to R5,000 if you choose the repayment option of between 30 days and 12 months.

Factors that influence loan approval

  • Gross salary
  • Net salary
  • Employment type
  • Length of employment

Also, using your identity document, they check whether it has ever been associated with fraudulent activities. The quotation page has all the information on the fees you’ll be expected to pay. The system checks which amount is suitable for each individual application based on affordability.

The loans are designed to help to cover short-term expenses and aren’t ideal for a long-term period. Therefore, you can only get between R500 and R8000 per application which is payable in 6 months or less.

The cost is 16.5% of the initiation fee for the first R1000 and then 10% of the amounts above R1000. Lastly, there’s a service fee of R60 per month. It’s all written on the agreement page that will be sent to you. This should be read carefully before being signed.

man holding thumbs up

MPOWA Finance is a trusted & reliable provider of short-term loans

In our review, MPOWA Finance adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ MPOWA Finance is a registered credit provider in South Africa: NCRCP6666

MPOWA Finance Contact

Physical Address

Postal Address

  • Postnet Suite 462, Private Bag X9, Benmore, Johannesburg, 2010, South Africa

Opening Hours

  • not available