Tala Gives Out Ksh 240 Billion In Loans In 8 Years

Tala has disbursed about 3.5 million loans worth 239.8 billion shillings to Kenyans in a period of 8 years since starting operations in Kenya. The fintech company launched in Kenya in 2014 and since then, its influence in the country has been growing.

While unveiling its impact performance report, Tala said that it has achieved a 90 percent repayment rate with its customers, making it one of the best-performing in the country in terms of people who borrow cash and pay it back in time.

At the same time, during the eight-year, Taka has given loan waivers worth 2.6 billion shillings. The waivers were aimed at making their customers comfortable, especially at the height of the Covid-19 pandemic, and lifting the out of defaulting on their loans.

“We have got a chain of agents spread out throughout the country where borrowers who are unable to pay due to special circumstances can call and request for a waiver,” explained Tala’s Director of Growth Annstella Mumbi.

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According to Tala, 4 out of 5 borrowers (84 percent) surveyed report an improvement in their overall quality of life because of digital loans despite the country’s economy and cost of living being on razor’s edge.

“These findings validate our core mission to bring the financially underserved Kenyan majority into the financial ecosystem and provide them access to affordable credit and flexible payment options.

We are extremely motivated to see statistics indicating that 85 percent of our female borrowers surveyed reported an increase in their confidence in themselves and in their abilities and 60 percent of them said they now contribute to household decision-making as a result of being financially enabled. That is what matters most to us at Tala,” added Mumbi.

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On consumer data protection, 98 percent of respondents said that they understand Tala’s loan terms and conditions, while 97 percent indicated that they trust fintech with their personal information.