Browsing: Tala

Kenya: 7 most popular digital lending platforms, and their owners

Tech & Business
  • M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively
  • 55 of every 100  people acquire loans from digital lending applications
  • Most Kenyans prefer digital lending platforms due to convenience, easy access and fast loan remittance
Kenya has experienced massive digital credit lending services growth since the launch of M-Shwari in 2012.
Digital lending apps have additionally been fueled by increased food prices and unemployment rates, forcing citizens to run to almost anything that can put food on their table. Currently, the country boasts of over 40 digital credit providers.
M-Shwari accounts for 29% of the local market share, followed by KCB M-Pesa at 12%, then Equity Eazzy, Tala and MCo-op Cash at 4%, 1.8% and 1.3%, respectively.
The State of Digital Lending Report 2021 released by Reel Analytics, showed that
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Tala mobile money lender

Tala suspends its financial operation in Tanzania

Investing

In a statement given by Tala, the company has not yet made a decision to permanently shut down its loan services in Tanzania but are reviewing its operations to make their final decision.

The statement also reads, “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.”

The company serves more than four million subscribers at an approximated Ksh.100 billion ($961.9 million dollars) on disbursed loans, said it is actively working to continue to support financial services access to Tanzania.

According to Tala, Kenya remains at the heart of Tala’s operations with a customer reach of over three million and ease in offering financial services. It assured that its operations in Kenya would remain uninterrupted.

“Our operations …

Tala, the leading consumer lending app in emerging markets, has disbursed loans to over 2.5 million customers globally, in the wake of continued global expansion of financial technology. Tala, formerly Mkopo Rahisi, was launched in Kenya in 2014 becoming the first in the world to offer unsecured mobile loans direct to consumers. Tala has improved financial inclusion in Kenya by expanding credit access across Kenya by using alternative data to instantly underwrite and disburse credit to people who have been excluded from traditional finance due to lack of credit history or formal records.

Tala loans reach 2.5 million customers amid Fintech revolution

East Africa

Tala, the leading consumer lending app in emerging markets, has disbursed loans to over 2.5 million customers globally, in the wake of continued global expansion of financial technology.

READ:Kenyan fintech companies brace for sectors’ revolution

This was revealed on Monday during the celebrations to mark the company’s five year anniversary in Kenya.

When Tala, formerly Mkopo Rahisi, was launched in Kenya in 2014 becoming the first in the world to offer unsecured mobile loans direct to consumers.

Since then, Tala has expanded credit access across Kenya by using alternative data to instantly underwrite and disburse credit to people who have been excluded from traditional finance due to lack of credit history or formal records.

READ:Tala raises $30 million to expand into new markets

Speaking during the launch of ‘Tala at 5’ celebrations, the head of Tala’s Kenya business, Ivan Mbowa, noted that Tala has changed the way people …