Okapi Finance, a global money transfer company, has launched its services in Kenya with an objective of offering affordable cash transfer services.
Working in collaboration with Guaranty Trust (GT) Bank, Okapi Finance is keen to address the challenge of costly cash transactions that Kenyans have been experiencing over the past years, and ensure access to financial services.
Patrick Kihara, Okapi Finance’s Country Manager, notes that with the launch, Kenyans will be able to send and receive up to Kshs 20,000 per transaction, five times a day free through the firm’s SWAP service that allows one to send money to other Okapi customers.”
Okapi services are accessible through authorised agents, Okapi website or Okapi Mobile App available on Android and IOs mobile operating systems, where customers will be required to open an account. Customers without an Okapi account can visit an agent to execute their transactions.
Okapi money transfer service is currently available for domestic transactions (soon to go international). Normal customers receive the money through an Okapi merchant / agent while premium customers can receive money through their Okapi accounts or their Visa card. Any Visa card holder can register as Okapi Visa user and can make transactions from Visa card to Visa card.
Deposit or withdrawal to and from Okapi account can only be done at an Okapi an authorised agent and customers can make free deposits; and will be required to produce their valid national identification documents.
Headquartered in Sweden, Okapi Finance’s mission is to bank the unbanked by providing financial inclusion, increasing access to financial services and minimising transaction charges.
“Everyone should be able to access financial services regardless of where they live and their status. Transparency, security and compliance with financial regulations are key for our operations and we believe in building the Okapi network through partnership with financial institutions and other existing structures,” noted Kihara.
So far, the company prides itself in more than 100,000 subscribers in Kenya and aims to reach 145 million subscribers globally in the next five years.
Besides sending and receiving money, customers can also buy insurances from insurance companies registered with Okapi as well as paying premiums or filing claims. Approved claims are paid to customers’ Okapi accounts by the insurance companies. Employers can also pay out salaries to employees with Okapi accounts.