Digital lender Tala has announced an exit from the Tanzanian market. In a statement posted on their Twitter Account, Tala said that it had ceased offering loans in Tanzania and urged customers with outstanding balances to make repayments.
Tala has attracted over 27 million customers globally and has operations in Kenya, India, Mexico, and the Philippines.
Moreover, over 78 percent of Tala loans are for business expansion across East Africa offering fast, personalized loans to self-employed people.
Tala will issue a statement in the near future to explain the shut down in business.
Related
Related reporting
More Business News →
High Court Blocks Oigara Bank Fraud Probe as Stanbic CEO Escapes Questioning
15 Proven Ways to Make Money Online in Kenya; No Scams!
High Court Halts Equity Bank's Takeover Bid on Swafi Foods in Landmark Ruling
