Oya Micro Credit Introduces Financial Education to Guide Borrowing and Repayment

Financial literacy has become one of the pillars in ensuring that borrowing is undertaken responsibly and businesses grow sustainably, with Oya Micro Credit Kenya reinforcing its efforts towards this by commemorating its fourth anniversary celebrations at Cambridge, Nairobi, on Saturday, May 30, 2026.

The microfinance institution said financial education remains central to its operations, particularly as Kenya’s financial services sector undergoes rapid transformation driven by mobile banking, digital lending platforms, and wider access to credit products.

Speaking during the anniversary celebrations, Oya Micro Credit Kenya Chief Executive Officer Wycklife Ochola said the institution has learnt over the years that financial literacy is essential in helping borrowers maximize opportunities created through credit while minimizing the risks associated with poor financial management.

“Credit is a powerful tool for economic empowerment, but it must be accompanied by financial education. Over the past four years, we have learnt that when clients understand how to manage their finances and use credit responsibly, they are more likely to succeed in their businesses and achieve their personal financial goals,” Ochola said.

Lending Centered Around Financial Literacy

These comments follow increasing fears about the financial management problems facing many entrepreneurs, especially those running businesses in Kenya’s small and medium-sized enterprise sector (SME).

As per Ochola, poor understanding of finances tends to hinder the performance of potentially successful companies.

“We have observed that many firms have great potential but fail not due to the lack of clients but due to their inability to properly understand finances. With proper knowledge of budgeting and expense tracking, companies can easily benefit from loans,” he noted.

Oya Micro Credit has incorporated financial education in their lending system to help it handle the situation.

The institution guides responsible borrowing, repayment planning, and business management before customers access financing.

“We do not view our relationship with clients as a simple lender-borrower transaction. Our goal is to build long-term partnerships by helping customers understand how much they can comfortably borrow, manage repayments effectively, and grow their businesses sustainably,” Ochola added.

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Expansion and Job Creation

In marking four years of business, the Micro Credit noted that there had been remarkable growth not only within the company’s national footprint but also in the number of clients.

Oya Micro Credit noted that they now have 110 branches in Kenya and serve around 20,000 clients per month.

The institution also pointed to its contribution to employment creation, noting that more than 500 jobs have been generated for young Kenyans through its operations over the past four years.

“As we celebrate four years of growth, we are proud not only of the number of customers we have served but also of the opportunities we have created through employment and skills development. Our success is ultimately measured by the positive impact we create in the communities we serve,” Ochola said.

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Technology Facilitating Financial Inclusion

Apart from branch expansion, Oya Micro Credit has been involved in implementing various customer service programs driven by technology as part of efforts to provide financial education outside branches.

Among such technologies is WhatsApp’s AI system used by the firm for sharing information about financial literacy, budgeting, and management practices.

“With technology, we can extend financial education outside the branches and to the fingertips of our customers. It is our intention to educate the client to make sound financial decisions and become successful financially,” Ochola emphasized.

Moving forward, Oya Micro Credit stated that it will keep focusing on responsible lending, entrepreneurship development, financial education, and increased accessibility of loans as it moves into its fifth year in business.

“Sustainable lending goes beyond disbursing loans. When borrowers succeed, businesses grow, jobs are created, and communities prosper. That is the impact we want to achieve and continue building upon in the years ahead,” Ochola concluded.

The Oya Micro Credit Kenya presently runs 110 branches in total and is serving approximately 20,000 clients every month.

The company sees itself as one of those growing microfinance companies in Kenya that is trying to strike a balance between financial literacy and credit access for entrepreneurship purposes.

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Oya Micro Credit Kenya Chief Executive Officer Wycklife Ochola speaking to the press in Nairobi. PHOTO/ File