Okapi Finance targets Kibera youth with loans for purchasing Bodabodas

Youths in Kibera, Nairobi, are now set to fight unemployment, following a partnership between Okapi Finance and Diptop Agencies, that will see them receive motorcycles (Boda Bodas) and repay using the Okapi platform.

According of Okapi Finance Country Manager, Patrick Kihara, the company has issued seven Bodabodas for the pilot project, and more are set to be issued.

(TOP: Okapi Finance Country Manager, Patrick Kihara – left – showing Julius Ochieng how to use the Okapi Finance platform to transact. Julius is one of the seven beneficiaries who received Bodabodas from Okapi Finance. Looking on at the right is Edwin Otieno of Diptop Agencies in Kibera).

Kihara goes on to state that the beneficiaries will re-pay as little as Kshs 500 on a daily basis, using the Okapi platform.

“Youth unemployment is rampant in our society. Okapi Finance is however, in the process of addressing the problem to our subscribers across the country. We shall soon do the same to other parts of the country. Kibera is only the beginning,” he says, adding that, “Payment terms are very flexible. One can pay as little as Kshs 500 for a flexible period.”

Kibera has a total of 13 villages, and the company plans to reach out to as many youths as possible across the slum.

Julius Ochieng, one of the beneficiaries, expresses his joy over this development, noting that, I can now afford to put food on the table for my family without any struggle. I am my own boss. I call upon other youths to sign up with Okapi Finance in order to enjoy this and other benefits.

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.

With Okapi, Kenyans can send and receive up to Kshs 20,000 per transaction, five times a day free through the 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.

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