Okash and Opesa have been exposed as the loan apps shaming borrowers when they fail to repay by calling all the Contacts in borrowers mobile phones.
Earlier today Okash denied doing this to their customers instead the lender only call the emergency contact as specified by the borrower.
Read ; Okash denies calling all Contacts in defaulters mobile phone
Digital Lenders Association of Kenya (DLAK) condemned this practice by such lenders who are not part of the association in a statement;
“We condemn this illegal and morally questionable behavior and urges Okash and Opesa to cease such practices,” said DLAK Chairman Robert Masinde on behalf of all members.
Calling a borrowers Contacts lowers a person's dignity in the community and even at work. This is why most Kenyans have been complaining on social media about this debt shaming behaviour by Okash and Opesa.
“By reaching out to a customer’s contact list, Opesa and Okash rob the individual of basic dignity and consumer rights. This can have long term effects on their psychological well-being and damage relations that may have taken years to build,” Robert Masinde said.
This is one of the reasons why Central Bank is asking for regulation of these loan apps in Kenya. So farm CBK has barred unregulated digital lenders from submitting and accessing borrowers information from the licensed Credit Reference Bureaus (CRB).
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