A new mobile app that gives users access to short-term loans is now available in Kenya.

Okash, an invention of OPay, the financial technology company that is part of the Opera Group, enables users to access small loans for an interest as low as 1 per cent per day for a maximum of 14 days.

Edward Ndichu, FinTech manager for Opera in Kenya, said users with timely and consistent repayment behaviour can apply for a single loan up to Sh500,000 at an interest rate of five per cent.