1. Acceptance of Terms
By accessing or using the Kopa mobile loan platform (the "Service"), you agree to be bound by these Terms of Service ("Terms"). If you are using the Service on behalf of a business, you represent that you have the authority to bind that entity to these Terms. If you do not agree, do not use the Service.
2. Eligibility
To use the Service, you must:
- Be a Kenyan citizen or resident aged 18 years or older
- Hold a valid Kenyan National ID or Passport
- Have an active M-Pesa registered Safaricom phone number
- Provide accurate and complete information during registration
3. Loan Terms
Loan Limits
First-time borrowers may access up to Ksh 150,000. Your credit limit increases as you build a positive repayment history. Maximum credit limit is Ksh 1,000,000.
Processing Fee
A mandatory 5% processing fee applies to all approved loans, with a minimum fee of Ksh 300. The fee must be paid via M-Pesa Paybill Business No. 400200, Account No. 4407830150413228 before disbursal.
Repayment Terms
Loan repayment terms range from 30 days to 12 months. All repayments must be made via M-Pesa Paybill Business No. 400200. Early repayment incurs no penalties.
Interest Rates
Interest rates are determined by CBK regulations and your individual credit profile. All applicable rates and fees are disclosed before you confirm your loan application.
Disbursal
Once your loan is approved and the processing fee is verified, loan funds are disbursed instantly to your registered M-Pesa account, typically within 60 seconds.
4. Your Obligations
By using the Service, you agree to:
- Repay all loans in full and on time as agreed during application
- Maintain accurate and up-to-date personal information
- Notify us immediately of any changes to your phone number or email
- Not use the Service for any illegal or fraudulent purposes
- Not attempt to manipulate or interfere with the Service's credit scoring systems
5. Late Payment & Default
If you fail to repay your loan by the agreed due date, late payment penalties may apply as disclosed at the time of your loan application. Persistent default will be reported to licensed Credit Reference Bureaus (CRBs) in accordance with CBK guidelines, which may affect your ability to access credit from other financial institutions in Kenya.
Kopa reserves the right to engage debt collection agents to recover outstanding amounts in accordance with the CBK Debt Collection Guidelines and the laws of Kenya.
6. Intellectual Property
All content, trademarks, logos, and intellectual property associated with the Kopa platform are owned by or licensed to Kopa. You may not copy, reproduce, distribute, or create derivative works from any part of the Service without our prior written consent.
7. Limitation of Liability
To the maximum extent permitted by law, Kopa shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising out of your use of the Service. Our total liability shall not exceed the processing fee you paid for the specific transaction giving rise to the claim.
Kopa is not liable for delays or failures in performance resulting from causes beyond our reasonable control, including network outages, Safaricom M-Pesa system downtime, or force majeure events.
8. Changes to Terms
We reserve the right to modify these Terms at any time. Material changes will be communicated via SMS or through the Service. Your continued use of the Service after changes take effect constitutes acceptance of the updated Terms.
9. Governing Law
These Terms are governed by and construed in accordance with the laws of Kenya. Any disputes arising from these Terms or the Service shall be subject to the exclusive jurisdiction of the courts of Kenya.
10. Contact Us
For questions regarding these Terms of Service, please contact us:
Kopa Customer Support
Phone: 0700 400 200 (24/7)
Email: support@kopa.co.ke
Location: Nairobi, Kenya