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Tala Eyes Other African Markets as It Marks 10th Anniversary [VIDEO]

Tala Kenya has announced plans to expand to the rest of East African regions as it seeks to grow its market share on the continent.

Tala’s General Manager Annstellah Mumbi said the company seeks to expand its service offerings and products in the 54 countries in Africa, aiming to hit a $10 trillion underserved global fintech market.

Mumbi said Tala would first venture into Tanzania, Uganda, and Rwanda.

“We are considering opportunities across the entire African continent, guided by where the greatest needs and partnerships arise,” said Mumbi.

Over 3 Million Borrowers

Mumbi was speaking Thursday during Tala’s 10th anniversary in Nairobi.

Also Read: M-Kop, Tala among 12 digital lenders okayed by CBK to operate in Kenya

The firm has served nearly  3.5 million borrowers in Kenya with about Ksh.300 million in disbursements.

Tala Eyes Other African Markets as It Marks 10th Anniversary
Tala General Manager Annstella Mumbi making her speech at Talas 10th anniversary on June 20 2024

Globally, Tala has reached approximately 9 million customers, including markets in the Philippines, India, and Mexico.

“The impact, especially in Kenya, of 3.5 million customers and about Ksh. 300 million in disbursements, really speaks to the need that existed by the time Tala came in.”

Women Honour Debts Better

With the evolution of digital credit globally, Tala has employed digital techniques to disburse its loans – which according to the company, women have preferred to honour their debts on time better than men.

Mumbi said the company eyes AI for its services in the next ten-year strategy to keep tabs on the evolving tech industry.

Approximately 54 percent of Tala’s customers accessed credit for the first time through its App, even as the GM said they are looking to tap into maginalised communities on the continent for financial inclusivity.

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Collins Ogutu

Nairobi based Digital Journalist, Corporate Communication Expert and Digital Marketer with a wealth of experience in multimedia. Accredited member of the Media Council of Kenya.

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