Market leader, Tala is licenced as a Digital Credit Provider by the CBK
Tala is proud to have been listed as a licensed digital credit provider by The Central Bank of Kenya (CBK) on 30th January 2023, following its press release. This is a huge milestone for Tala, who has operated in Kenya since 2014 and supported responsible regulation of digital lending for the benefit of Kenyans, particularly the underserved and underbanked. Today, we celebrate the CBK’s recognition of our achievement.
“As the market leaders for the past eight years, this license reaffirms our core values of operating within the bounds of global best practices, striving to protect consumers’ data privacy, driving innovation through consumer-centric products and leveraging new and different partners in the market to reach even more Kenyans,” said Munyi Nthigah, Tala’s General Manager.
“Moving forward we look forward to continued collaboration with The Central Bank of Kenya, the Office of the Data Protection Commissioner and other industry regulators in maintaining regulatory best practices in the market, whilst putting consumers needs at the core of our product innovation practices in the industry,” added Nicola Muriuki, Director of Legal at Tala.
Tala is a global technology company building the world’s most accessible financial services. More than 6 million people across Kenya, the Philippines, Mexico and India have used Tala products to start and expand small businesses, manage day-to-day needs and pursue their financial goals with confidence with over $2.7B in loans disbursed. Tala has raised more than $350 million from visionary investors including Upstart, the Stellar Enterprise Fund, RPS Ventures, the J. Safra Group, IVP, Revolution Growth, Lowercase Capital, and PayPal Ventures.