Youths in Nairobi’s Kibera area are now set to receive funding to buy motorcycles for boda boda business and repay using the Okapi platform. The arrangement will be under a partnership between Okapi Finance and Diptop Agencies.
Okapi Finance Country Manager Patrick Kihara says the company has issued seven boda boda motorbikes for the pilot project and more are set to be issued. Mr Kihara said beneficiaries will re-pay as little as Ksh500 daily.
“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,” he says.
Kibera has a total of 13 villages, and the company plans to reach out to as many youths as possible across the slum.
“I can now afford to put food on the table for my family without any struggle,” says Julius Ochieng, one of the beneficiaries. “I am my own boss.”
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, you can send and receive up to Ksh20,000 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. Okapi money transfer service is currently available for domestic transactions.
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.