Opal Loans

Understanding Opal Quick Limited: Company Overview and Background

Opal Quick Limited stands as a notable entrant in Kenya's dynamic digital lending sector, having secured its license from the Central Bank of Kenya (CBK) on October 1, 2024. This registration solidifies its position as a credit-only microfinance institution, authorized to provide digital credit services across the nation. Its operational model is fundamentally digital-first, designed to facilitate rapid loan disbursements through mobile platforms, catering to the growing demand for convenient financial solutions among Kenyans.

Legal Standing and Operational Footprint

The company, legally known as Opal Quick Limited, operates from its postal address P.O Box 671-60400, Chuka, with a physical presence at Twin Plaza Building, Opposite Magunas Supermarket, Meru Town. This dual approach of digital service delivery complemented by a physical office in a key regional center highlights its commitment to both accessibility and customer trust. The licensing by the Central Bank of Kenya is a critical aspect, placing it within a regulated framework that ensures consumer protection and market stability. Potential clients can reach the company via telephone at +254722790234 or +254115990652, and through email at

[email protected]

Founding Vision and Business Model

Opal Quick Limited was established with the core objective of extending financial services to segments of the Kenyan population that are often underserved by traditional banking institutions. Its digital-first model emphasizes simplicity, speed, and reliability in its loan application and disbursement processes. Key figures associated with the company, such as Dickson Mutembei, who holds a background in Banking and Finance, are instrumental in driving its vision to become a rapidly growing microfinance institution within the country. The focus remains on leveraging technology to make credit readily available to individuals and small businesses seeking financial support.

Opal Quick Limited Loan Products and Services

As a digital credit provider, Opal Quick Limited offers a streamlined suite of loan products tailored to meet various financial needs. The company’s core offering revolves around digital credit, accessible through its online platform and mobile application. Understanding the specific parameters of these loans is crucial for potential borrowers.

Available Loan Products

• Loan Amounts: Opal Quick Limited provides digital loans ranging from a minimum of KSh 5,000 to a maximum of KSh 2,000,000. For new or initial borrowers, the typical loan range is often set between KSh 1,000 and KSh 50,000. This tiered approach allows the company to assess borrower risk and gradually increase credit limits based on repayment history.
• Purpose: While not explicitly stated, digital loans in Kenya typically serve various purposes including personal expenses, small business capital, emergency needs, and household expenditures.

Repayment Terms, Fees, and Interest Rates

Transparency in loan terms is a cornerstone of responsible lending. Opal Quick Limited outlines its repayment periods and fee structure as follows:

• Standard Repayment Period: Most loans feature a repayment window of 91 to 180 days, providing borrowers with sufficient time to manage their finances.
• Maximum Repayment Period: For larger loan amounts, the company extends the repayment period up to 12 months, offering greater flexibility for significant financial commitments.
• Processing Fee: A processing fee of 2% is applied to the approved loan amount. This fee is subject to a minimum threshold, ensuring that even smaller loans incur a reasonable administrative cost.
• Interest Rates: Specific nominal interest rates for Opal Quick Limited were not explicitly detailed in the available information. However, as a CBK-licensed digital credit provider, the company operates within Kenya's regulated environment. This means its interest rates are subject to oversight and must comply with the guidelines set forth by the Central Bank of Kenya, which aims to protect consumers from predatory lending practices. Borrowers should always request and thoroughly review the detailed annual percentage rate (APR) and all associated costs before accepting any loan offer.

Application Process, Mobile Experience, and Regulatory Compliance

The efficiency of the application process and the robustness of its digital platforms are key differentiators for any digital lender. Opal Quick Limited emphasizes a user-friendly approach, underpinned by strict regulatory adherence.

Simple Application and Digital Platforms

Applying for an Opal Quick loan is designed to be straightforward and accessible:

• Website Application: Customers can initiate their loan application through the company's official website,

  account.opalquick.co.ke

  . The platform's tagline, "We are simple. We are quick. We are reliable," reflects its commitment to a hassle-free user experience.
• Mobile Application: For a more integrated and convenient experience, Opal Quick Limited directs users to download its dedicated mobile application from the Google Play Store. This app serves as the primary channel for customer enrollment, account registration, loan application, and ongoing loan management. Mobile applications are standard for digital lenders in Kenya, offering features such as credit scoring, disbursement, and repayment tracking directly from a smartphone.

The application process typically involves submitting personal identification details, financial information, and potentially linking mobile money accounts for disbursement and repayment.

Regulatory Status and Oversight

Opal Quick Limited's operations are firmly rooted within Kenya's stringent financial regulatory framework. Its licensing as a Digital Credit Provider (DCP) by the Central Bank of Kenya on October 1, 2024, means it operates under the comprehensive Digital Credit Providers Regulations, 2022. This regulatory oversight ensures:

• Compliance with CBK Directives: The company must adhere to all regulations governing digital credit providers, including regular reporting on loan statistics, customer complaints, and non-performing loan ratios.
• Data Protection: Strict compliance with Kenya's Data Protection Act is mandatory, safeguarding customer information and privacy.
• Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT): The company must implement robust measures to prevent financial crimes.
• Consumer Protection: Adherence to the Consumer Protection Act provisions ensures fair treatment of borrowers, transparent terms, and ethical debt collection practices.
• Customer Complaint Mechanisms: Opal Quick Limited is required to establish clear and effective channels for handling customer complaints, ensuring accountability and responsiveness.

This comprehensive regulatory environment is designed to foster a stable and trustworthy digital lending ecosystem in Kenya.

Market Position, Competition, and Practical Advice for Borrowers

Opal Quick Limited enters a highly dynamic and competitive digital lending market in Kenya. Its success will depend on its ability to navigate industry challenges and differentiate its offerings. Potential borrowers should be well-informed before engaging with any digital lender.

Competitive Landscape in Kenya

As of September 2025, Kenya's digital lending market is robust, with 153 licensed Digital Credit Providers. This makes the sector intensely competitive. Opal Quick Limited entered the market during a period of significant regulatory consolidation, where the Central Bank of Kenya has been licensing only a fraction of applicants, emphasizing consumer protection and market discipline. The broader microfinance and digital lending sector in Kenya faces challenges such as:

• Rising Non-Performing Loans (NPLs): The banking sector experienced an NPL ratio of 17.4% in the first quarter of 2025, with microfinance institutions seeing an 18% annual increase in bad debts between 2018 and 2021.
• Increased Regulatory Scrutiny: While beneficial for consumers, this also means higher compliance costs for lenders.

Despite these challenges, licensed DCPs collectively disbursed 5.5 million loans valued at KSh 76.8 billion as of June 2025, demonstrating the significant demand for digital credit.

Customer Reviews and Market Standing

Given Opal Quick Limited's recent licensing in October 2024, specific, widespread customer reviews or detailed market performance data are not publicly available. As a new entrant, its market standing will evolve based on its service delivery, customer satisfaction, and effective risk management. Potential borrowers are advised to monitor feedback and engage directly with the company's support channels to gauge its responsiveness and service quality. The company's commitment to compliance and a straightforward digital experience will be key to building trust and reputation in a crowded market.

Practical Advice for Potential Borrowers

Engaging with any digital lender, including Opal Quick Limited, requires careful consideration. Here is some practical advice for potential borrowers in Kenya:

• Verify Licensing: Always confirm that the lender is licensed by the Central Bank of Kenya. Opal Quick Limited is indeed a licensed DCP.
• Understand All Terms and Conditions: Before accepting any loan, thoroughly read and understand the loan agreement. Pay close attention to the interest rate, processing fees, late payment penalties, and the exact repayment schedule. Do not hesitate to ask for clarification on any unclear clauses.
• Borrow Responsibly: Only borrow what you genuinely need and are confident you can repay within the stipulated timeframe. Over-borrowing can lead to a debt spiral.
• Check the Annual Percentage Rate (APR): This gives you the total cost of the loan, including all fees and interest, expressed as an annual rate. It helps in comparing different loan offers.
• Guard Your Personal Data: Ensure that the lender has robust data protection protocols. As a licensed entity, Opal Quick Limited is required to comply with Kenya’s Data Protection Act.
• Utilize Customer Support: If you have questions or encounter issues, promptly contact their customer support team. Assess their responsiveness and helpfulness.
• Compare Offers: While Opal Quick Limited offers specific terms, it is always prudent to compare loan offers from several licensed digital lenders to find the most favorable terms for your needs.

Opal Quick Limited represents a significant addition to Kenya's digital finance sector. Its commitment to a digital-first model, coupled with adherence to the Central Bank of Kenya's stringent regulations, positions it as a credible option for quick and accessible credit. As with all financial decisions, due diligence and responsible borrowing are paramount.