Zidisha loan Ghana – What you need to know


Ghanaians can now access Zidisha loans when in need of cash flow to solve their needs. By taking a Zidisha loan, borrowers can profit more from their loan investment because the loans are more cost-efficient. In addition, they provide lenders and entrepreneurs with direct communication. However, in this article, you can see details of how it works as it unfolds right before your eyes. 

What does the word “Zidisha” mean?

Zidisha is a Swahili word meaning growth or expansion, such as that of a business or of freedom. However, it is the first online micro-lending community that directly connects lenders and entrepreneurs with no intermediaries. Unlike more mainstream micro-loan websites that use local intermediary organizations, Zidisha offers a direct person-to-person connection.

What is the maximum amount I can borrow?

To establish creditworthiness, they usually give first-time members a small test loan. Following that, your borrowing limit will increase with each loan you repay on time. The maximum amount you can borrow is GH₵4,153,730.

How much are the fees and interest?

There are no interest charges on Zidisha loans. Borrowers pay a service fee of 5% of the loan amount, to cover the cost of transferring and administering the loan.

Members who do not have an invitation from an existing Zidisha member usually pay a one-time membership payment of GH₵3,000. This is usually to cover the cost of a credit bureau and background check.

What are the eligibility requirements for a Zidisha loan?

The lenders charge their borrowers a 5% fee for transferring and administering the loan.

Applicants for Zidisha loans should meet the following requirements:

1. A good reputation and the support of family, neighbors, and community leaders are essential

2. The bank does not currently have any overdue loans

3. Your business or employment should generate enough income for you to repay the loan in regular installments

4. You must have Internet access or a smartphone with Zidisha installed, and be able to complete entrepreneur applications and profile forms, as well as respond to lender comments via the app or our website

5. Update Zidisha frequently with information about the progress of the business and the loan

6. Currently live in Ghana

7. 18 years of age or older

How does the Zidisha loan funding process work?

A business owner who submits a loan application states the amount he or she wishes to borrow. The repayment amount per week he or she prefers, as well as the day or week during which he or she wishes to make repayment installments. If the loan amount is between ₵1 and the full amount requested, lenders can fund any portion of it.

Upon receiving a loan offer, an entrepreneur must confirm its acceptance. They disburse the loan in local currency to the entrepreneur after they have accomplished it.

Read also: Sikamaster loan Ghana

What is the process for depositing funds into lenders’ Zidisha accounts?

PayPal and Stripe charge an average of 3.5% transaction fee for both these payment methods. Users of PayPal can credit their accounts instantly, and Stripe, a secure third-party payment service, allows lenders to use credit or debit cards. There is a 3.5% fee for both payment methods, which matches the average transaction fees deducted by PayPal and Stripe.

The option is also available to set up automated monthly transfers to lending accounts. A monthly plan does not charge a transaction fee, unlike a change and cancellations are possible.

Why should I join or apply for a Zidisha loan?

You can decide to join or apply for a Zidisha loan because:

  1. Flexible: Choose your own weekly repayment schedule and adjust it whenever you need.
  2. Growth: Your credit limit increases with each on-time repayment, up to a maximum of GH₵4,153,730 per loan.
  3. Community: Join a global community of high-achieving entrepreneurs and lenders who support your goals.

Why do entrepreneurs choose Zidisha loans?

Entrepreneurs in Zidisha often live in low-income countries, where low-interest loans and collateral requirements are prohibitive or it is difficult to get credit. Unlike traditional banks, Zidisha offers a flexible alternative for entrepreneurs looking to expand their businesses at low-interest rates. Investing in their businesses or supporting their families is possible due to low costs.

How is Zidisha able to work without local intermediaries?

Zidisha takes care of each individual loan disbursement and repayment collection via the internet. Hence, the management of Zidisha funds does not need to be outsourced to intermediary parties. The entrepreneurs themselves post loan applications and progress updates on the website. This allows their lending services to be provided independently of local intermediaries.

Does Zidisha assess the creditworthiness of borrowers or entrepreneurs?

The answer is no. As a platform, Zidisha is not a bank or credit bureau. It doesn’t provide a guarantee regarding the accuracy of information provided by entrepreneurs. Also, it does not conduct income assessments, debt levels, or creditworthiness for entrepreneurs. A lender’s role is to determine whether an enterprise is funding-worthy and viable.

Is Zidisha an investment broker?

There is no such thing. The Zidisha platform is a philanthropy platform. Zidisha maintains a platform on which its members can transact with each other. Our company makes no representations or promises that lenders will receive their funds back, and we do not pay back loans.

What are some purposes for which I can get a Zidisha loan?

If the borrower can show good moral and legal standing, he or she may take out a loan for any purpose. Zidisha has lent to members to finance business growth, tools, university tuition, home improvements, health care, and more. The loan application should specify how you will make repayments if your loan is not for an investment that will generate revenue.

How are the loans financed?

A bank or other organization does not finance Zidisha loans. Instead, ordinary people from around the world visit the Zidisha website and choose loans to fund. When entrepreneurs or borrowers repay the loans, they send repayments to the individual lenders who financed the loans. However, they as well reinvest the repayments in other Zidisha loans.

What should I do if I did not receive my loan disbursement?

When you confirm acceptance of your loan, you will see your disbursement status on your dashboard page or your loan screen. Also, they send payments instantly by entering the account number and date on the payment window. If you did not receive your loan disbursement, please go to the “help screen” and select the Not Received Disbursement option. The payment service will then track the payment through the Zidisha team.

How to repay the Zidisha loan?

Using the mobile app, go to your loan screen to view the repayment instructions. Also, you can visit the repayment instructions page (to view the repayment instructions on the Zidisha website). Upon disbursement of your loan, they will email you repayment instructions.

How long do I have to repay?

They make weekly payments on loans. It is up to you how much you wish to pay back each week, and on which day of the week you want it due.

What should I do if I cannot make a scheduled repayment installment?

In order to stay in good standing and avoid deductions from your credit limit, change your scheduled installment. If you can’t pay the full amount due on the scheduled date. You can do this by logging into your Zidisha account and choosing a repayment amount that you can afford. It is possible to reduce or skip an installment completely, but not to reduce the amount due. If you honor the new repayment schedule, a change to your installment won’t affect your on-time repayment rating. Using the same page, you may increase the installment amount once you are able, so that the overall repayment period will not prolong further than it was originally.

What are the consequences if I repay late or default on my repayment?

Late repayment hurts lenders and other entrepreneurs, as they could have lent the funds to other entrepreneurs. If they repay them on time. You also damage your reputation if you cannot make loan repayments by the due date. Loan lenders have trusted you to make repayments on time. You may damage Zidisha’s trust. Hence, making it harder for you to get new loans in the future.

Meanwhile, they usually send a courtesy notice to your smartphone if you miss a scheduled payment. If you still have not made the payment, Zidisha will seek the mediation of members of your community. If mediation fails, Zidisha may declare the loan defaulted. Besides being disqualified from financing any new loans in the future, they will also report you to your national credit bureau. Then you will face legal proceedings that may cause property confiscation, fines, and other legal penalties.


A majority of borrowers fall victim to banks that charge exorbitant interest rates. This is because they are more concerned about the ease of getting loans rather than learning about the interest and other fees. Borrowers don’t notice some features because it is urgent. On the contrary, a Zidisha loan in Ghana is an easy loan to access with competitive interest. Providing you have a means of repayment, the bank will not screw you. 

It is your responsibility to manage your finances in a way that ensures you can pay your loan installments on time. You must adjust your installment amount in your Zidisha account. If unexpected circumstances make it impossible for you to deposit the whole payment when it is due.

Related articles:

Duties of a loan officer in Ghana explained

Loans in Ghana without collateral – What you should know

Loan requests and how it affects your credit score

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