Wednesday, May 13, 2020

Okolea Restructures over 40, 000 Customers' Loans

    May 13, 2020   No comments

Okolea International

Okolea International has announced Wednesday to have restructured over 40,000 customers' loans in a move to cushion them against the effects of COVID-19 pandemic.

With this move ,customers can now repay loans within up to 24months from previous one month repayment duration.

Okolea is one of the responsible digital lenders in kenya operating through apps on both Google play store and Apple's appstore.

In order to protect Kenyans from the uncertain economic times, the Central Bank regulated lenders resolved to give up to one year loan repayment holiday and restructuring of loans at no charge to the borrowers.

Okolea boss, Peter Muraya added that the lender also removed defaulters with less than ksh1000 loans from the CRB blacklist as directed by the Central Bank last month.

Muraya is optimistic that if CBK will give digital lenders a chance to discuss the issues around digital lending and regulation then everything will be fine with no further conflicts in the Kenyan lending market.

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Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

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