There are several people who do not know or have not come across information that concerns okash. Sometimes these people ask, ” Is Okash owned by Opay?, there are lot of things to discuss about Okash and in this article, we will tell you what you need to know about Okash. So sit tight and be ready to be amazed because you will be told of things you never knew.

What is Okash?

Okash is a new age loan company that comes in form of an app, it provides fast and easy loans to its customers. Their everyday mission is to make lending money as easy and reliable as possible, while providing amazing customer service and top notch security. They are dedicated to providing a user-friendly loan experience that is available to anyone.

Okash was founded with the mission of transforming the traditional lending industry.Its belief is that everyone is allowed to have access to the financial resources they need, and they are committed to making that a reality. The Okash team of experts have created and developed a secure and user friendly platform which makes lending money quicker, easier and comfortable than before. They are passionate about providing help to those who want to achieve their financial goals, and are dedicated to providing excellent customer service. 

Okash was first unveiled in March 2018 by Tenspot Pes Limited a company under Opay. The platform quickly gained recognition due to its very accessible and quick nature of how it loans can be processed and sent out to customers. Later on in 2018 Okash had gained a lot of revenue from over 280,00 microloans.

Is Okash owned by opay?

In this present era, online lending platforms have become so popular because they provide quick and comfortable access to loans. One of those platform is Okash. Okash has gained a lot of attention, particularly in Nigeria and in Kenya. Now to answer the question ” Is Okash owned by Opay? “, the answer is yes, Okash is owned by Opay.

How Okash Operates

Okash gives out short term loans to its users through an app. The process as to which this happens is very simple and straightforward, it requires its users to download the app from google playstore or apple store, install it in their mobile phone, register, and apply for a loan. The platform uses an evolved technological software to track creditworthiness of applicants, ensuring that their loans are sent to them. Okash loans are sent out to its users by Blue Ridge Microfinance Bank.

Okash is Opay’s automated lending service focused on increasing access to credit to financially under-served/excluded individuals in Nigeria. Loan decisions are provided within 15 seconds and if approved, the applicant receives funds within 5 minutes. 24 hours a day, 7 days a week.

Opay’s Background

Okash is an online lending platform which operates under the authority of Opay digital services. Opay is a fintech company which is owned by a Chinese billionaire Zhou Yahui.  Zhou Yahui acquired a company called opera limited in 2016, which later gave birth to Opay. Opay’s headquater is based in Hong Kong, and it has branches across the world.

Opay’s Expansion and Services

In August of 2018 Opay was founded and since then it has expanded across several countries, they include: Nigeria, Kenya, Egypt, and Pakistan. This company offers a wide range of services. Opay has become one of the most dominant monguls in the fintech industry and particularly in Nigeria, where it hosts over 35 million users and more than 500,000 agents.

What they Offer

Its vision is to become the leading loan app company in Nigeria, providing quick and convenient loans to everyone who needs them. They aim to provide a secure and easy-to-use platform that makes borrowing money faster, easier, and more convenient than ever before. They are committed to helping people achieve their financial goals and improving their financial well-being.

High Loan Amount: Okash offer loans of up to 50,000 NGN, so you can get the money you need, when you need it.

Fast Approval: Their loans are approved quickly, so you can get the money you need as soon as possible.

Paperless Apply: its loans are paperless, so you can apply and get approved without any paperwork.

Opportunity of Loan Cancellation: They offer the opportunity to cancel a loan within 24 hours of disbursement, so you can get the financial support you need, without any hassle.

Courteous Loan Collection Process: They have a courteous loan collection process that is respectful and ethical, so you can feel confident and secure when you borrow money from us.

Our Core Values

Excellent Customer Service: They believe that their customers are the foundation of our business, and they are committed to providing excellent customer service and support.

Cooperative Partner: Okash believes in working together with their customers to achieve their financial goals, and they are dedicated to providing a cooperative and user-friendly loan experience.

Ease of Use: Okash believes that borrowing money should be simple and painless, and they are committed to making our platform as user-friendly and accessible as possible.

Security: Okash believes that the security of their customers’ personal and financial information is of the utmost importance, and it is their duty to maintain the highest standards of security and privacy.

Products

• Payday loans – Okash payday loan is designed to provide monthly overdraft to staff of companies, ministries, Parastatals and other establishments.
• Education – Any salary earner, self-employed, students, government sector employees including Public Sector.
• Business – The loans help business to cover cash flow payments when due.

Imapct on Finacial Inclusion

Okash has had a significant impact on financial inclusion, particular in kenya. According to the Kenyan private sector allaince, the country’s financial inclusion rate has increased from 26.7 percent 15 years ago to 82.9 percent now. This is largely attributed to the increase in mobile phone usage and how easy it is to access loans.

Challenges

Despite being successful, Okash has been through a lot of challenges and deceitful rumors. Just like other online lending platforms, it has faced a lot of criticism for high interest rates and aggressive debt collection practices.

Things to Note

Okash is a legit and authorized loan app, so you’re in safe hands.

They won’t tarnish your reputation or spread rumors about you.

If you default on your payments, they’ll take the necessary steps and report the matter to the appropriate authorities.

While their overdue interest rates are fair, you have the option to skip paying them back once you’ve settled the principal and initial interest.

Avoid borrowing from other loan apps to settle your debt with Okash. Instead, pay them back when you have the funds available. You can even stretch out your payments over several months, just make sure to honor your commitment.

Consider installing Truecaller on your phone to identify and block their calls if you’d rather not engage with them.

Conclusion

Okash is indeed owned by Opay, a fintech company founded by a Chinese billionaire Zhou Yahui. Since its inception it has gained a lot of popularity because of how easy and comfortable it is to get loan from them. However it also faces challenges too that needs to be taken care off in order for it to continue running smoothly in the fintech industry. As the fintech industry continues to evolve, loan platforms such as Okash and opay will play a very important role in giving shape to the future of digital finance.

Frequently Asked Question