Tala Sets Aside A Ksh 2 Million Pilot Grant To Help Kenyan MSMEs

By Soko Directory Team / Published October 27, 2021 | 12:22 pm

KEY POINTS

The future belongs to MSMEs and we need to help them position themselves for success as we hopefully begin to see an upward economic trajectory.

Tala has launched the piloting Jijenge na Tala Rebuild Fund Business Program to help the hard-hit micro, small and medium-sized enterprises to build back better post-covid 19 as the country enters the recovery stage.

MSMEs are key contributors to Kenya’s economic growth, however, they experience low access to business credit to start, stock, and grow their enterprises.

“We understand the pivotal role that MSMEs play to oil the wheels of our economy. They, however, remain disproportionately underfunded and with no financial assistance in most cases. Today more than ever, we are keen to provide these enterprises with a boost to help them get back what they have lost during this and the past year”, said Mr. Ivan Mbowa, Managing Director at Tala EA during the event at the Sarova Stanley Hotel, Nairobi.

Tala is committed to walking the talk with small business owners and helping them achieve their business goals through offering subsequent business skills training as part of the support to the business that will be part of the grant program, in addition to the funding, added Mr. Mbowa. “ We have partnered with various stakeholders including Somo Project to help us deliver our promise of helping these growing businesses with the financial muscle and information they need to build back better” he noted.

Also speaking at the event, Mr. Kevin Mutiso, the DLAK board chairman, said that this was only the beginning of a beautiful relationship between digital credit providers and small entrepreneurs. “ This pilot program, is a good start to the mega customer-centric programs that the industry is looking to roll out and we commend Tala for making the first step to a great future,” said Mr. Mutiso.

“The future belongs to MSMEs and we need to help them position themselves for success as we hopefully begin to see an upward economic trajectory,” concluded the Fintech boss.

In addition to offering free financial coaching for all Tala customers in a bid to reduce the debt burden and help Kenyans survive and thrive through the economic crunch currently facing the country, the digital credit provider last year, launched a COVID-19 Rebuild Fund Initiative that saw the lender offer 0% interest loans to over 180 businesses offering essential services.

The event was highlighted by a panel discussion on how SMEs can build back better post-covid-19. The panel was attended by representatives from KEPSA, Trans Union bureau, Somo Africa, and Tala.

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