NAIROBI, Kenya – Tala, a pioneering digital lender, has marked a significant milestone by disbursing Sh300 billion to its customers in Kenya over the past decade.
This achievement positions Tala as a formidable competitor to traditional lenders in the country.
With a robust customer base of approximately 3.5 million, Tala has extended an average loan of Sh85,714 per customer, demonstrating its widespread impact.
The company’s 2023 Tala Impact Report reveals monthly disbursements ranging from Sh10 billion to Sh15 billion, highlighting its critical role in providing accessible credit.
To sustain its growth trajectory, Tala is set to diversify into new markets by acquiring financial technology startups in Kenya and across East Africa.
The Nairobi-based firm, which also operates in Mexico, the Philippines, and India, is leveraging fresh capital injections to broaden access to affordable loans and introduce innovative financial products.
Annstella Mumbi, Tala Kenya’s General Manager, emphasized the firm’s commitment to expanding credit access through strategic partnerships with other financial institutions.
“Moving into the next decade, we will enter a second phase of the industry, focusing beyond access to offer more customer-centric solutions,” Mumbi stated. “With our deep understanding of the mass market and our data science capabilities, we aim to be an ecosystem enabler, not a competitor, opening up access to credit.”
Tala’s global Chief Business Officer, Jori Pearsall, highlighted the lender’s mission to serve historically underserved segments excluded from traditional finance.
“Our focus is on partnerships and being an ecosystem enabler. The Global Majority, primarily in emerging markets, have immense potential that Tala aims to unlock with innovative solutions,” Pearsall explained.
Tala’s strategic vision includes targeting the $10 trillion global fintech market, encompassing 52 percent of the world’s population.
These individuals, often engaged in both formal and informal economies, typically lack access to essential financial services.
Pearsall articulated the transformative power of this demographic: “The Global Majority has immense potential, and we’ve witnessed their power. Tala proves that old barriers can be overcome with innovative solutions, creativity, and radical trust.”
Over its ten-year journey, Tala has consistently broken down barriers to financial inclusion, offering loans to millions who were previously excluded from the financial system.
As the company embarks on its next phase, it remains steadfast in its mission to revolutionize financial access through technology and partnerships.
