Tala, a global digital lending App has announced its decision to suspend operations in Tanzania.
MetroplTV Digital desk has learned that the Republic of Tanzania did not reach a conclusion to take down Tala’s loan services in Tanzania but a decision reached upon by Tala after piloting its credit product in Tanzania.
“Tala Tanzania has not made a decision to permanently close operations. However, after piloting our credit product in Tanzania, we have paused our lending operations and are undertaking a review of our operations to determine our path forward in the market.” Reads a statement in part.
The lending app which serves more than 4 million people in both Kenya and Tanzania at an approximated budget of Ksh100 billion, said it would not hold back in offering financial services in Tanzania.
According to Tala, Kenya remains its pillar with ease in offering finical services, and with customer reach of over 3 million, maintained that operations in Kenya remain uninterrupted.
“Tala remains a mission-driven global company that has impacted over 4 million individuals with over $1 billion in disbursed loans. We are actively working to continue to support financial access in Tanzania.”
“Our operations in Kenya continue uninterrupted as Kenya is a critical part of our global business. We are continuing to evolve our product to meet the needs of our 3 million customers here and are also piloting some exciting new offerings in financial education and coaching.”
