Yas Comores
Device financing through Tigopesa, featuring locked hardware until loan completion and daily data rewards for repayments.
The entity operates in the consumer finance market, specifically providing device loans in partnership with Tigopesa, a mobile money service. The business model centers on financing mobile devices for customers who may not be able to afford an upfront purchase. Ownership of the device remains with HONORA TANZANIA PUBLIC LIMITED COMPANY until the loan is fully repaid.
Clients are required to fill out a loan form to be eligible. The core mechanism involves locking the financed device, which can only be unlocked upon full settlement of the outstanding amount. Loan repayments are processed directly from the customer's Tigopesa account or manually via USSD codes. As an incentive, the company provides daily data bundles (MBs) to customers for each repayment made. Upon successful completion of one loan cycle, customers become eligible to apply for another.
Keywords: device financing, consumer loans, mobile money, asset-backed lending, Tigopesa, Tanzania, locked hardware, repayment incentives, financial services, telecommunications