Mobile loans app leads list of top downloads
Published Mon, May 7th 2018 at 00:00, Updated May 6th 2018 at 17:41 GMT +3
Kenya’s mobile lending app Okash has topped the list of the most downloaded app on Google Play Store, signalling the growing prominence of mobile lending apps.
The recently launched app has surpassed popular apps WhatsApp, Opera News, and other microlending apps in the number of downloads.
“We launched this product just over a month ago and getting such an impressive response demonstrates there is demand for our model of shorter-term loans in the market with an incentive for earlier repayment,” said Eddie Ndichu, the managing director Opera, the developers of Okash, in a statement.
OKash leverages users of M-Pesa transaction history to grant them access to small loans for interest rates starting from 1 per cent per day for loans peaked at two-week maturity periods.
“We know that there are more than 20 million people in Kenya who use loans actively every day and we want to give them a high-end product with an exceptional user experience,” said Mr Ndichu.
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