Online money lender Okash has reacted to accusations by the Digital Lenders Association of Kenya of using crude methods to recover loans, and predatory lending tactics by offering loans to borrowers with no means to pay back.
The association said Okash has been invading a customer’s privacy which is against the Kenyan data protection laws and has further tainted the reputation of digital lenders in Kenya.
The management of Okash said the claims have been propagated by the competitors to injure their reputation.
“The letter shows a series of false and misleading accusations based on social media reports as opposed to factual knowledge about the debt collection process in OKash” they stated.
The OKash terms and conditions clearly state that when a user initially registers in the OKash app, they provide the service with contact information from their reference number or referee which is contacted only in case the original borrower becomes unreachable.
Okash said calling numbers from a user’s contact list is not a practice that OKash does since it is not part of the guidelines of the company during the repayment process.
“OKash provides important financial services to millions of people and as such, we care about our customers on all levels” management said.
adding; “OKash wishes to inform its customers and the public that the company shall continue providing its services in accordance with the regulations stipulated by Kenyan laws”.