Rebecca Miano calls on digital lenders to support small businesses
Business
By
David Njaaga
| Jun 20, 2024
Investments, Trade and Industry Cabinet Secretary, Rebecca Miano, has called on digital lending firms to address the challenge of limited access to affordable credit for small businesses.
Speaking during celebrations to mark Tala Kenya's 10th anniversary in Nairobi, Miano emphasised the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in the economy and their struggles with financial accessibility.
"The Government has, over the years, prioritised financial inclusion through policy frameworks that have enabled transformative banking options to thrive," she said.
She urged Tala to collaborate with the newly launched Karibu Business Support Centre (KBSC), which aims to streamline processes for investors and manufacturers.
READ MORE
Maragua's Gakoigo stadium sets for Sh700 minion facelift
Blow to Ruto's mining reforms as new regulations declared illegal
Counties owe suppliers Sh176 billion in pending bills, report reveals
Court frees Isiolo county's Sh2.24b budget allocation
Kenya charts path for cross-border agroecological trade in East Africa
KWS says new rules go beyond fee changes
Why Kenya must never look back on free education, CBE
Ruto's push to protect Big Tech sparks constitutional showdown
Top names set for fierce battle as autocross action heads to Stoni Athi
Sh400m fraud case: Tycoon's nephew ordered to appear in court 'on crutches or ICU bed'
"As we celebrate Tala's 10th anniversary, I urge new partnerships. I invite Tala to explore collaboration with my Ministry's newly launched KBSC, a one-stop shop providing information and guidance to investors, traders, and manufacturers," she added.
Tala CEO Kenya, Annstella Mumbi, said the company continues working with regulators and governments to shape policy around responsible lending and financial inclusion in the region.
"Moving into the next decade, we believe that we will be moving to a second phase of the industry, thinking beyond access and into the ability of the industry and Tala to offer more customer-centric solutions - personalised," she said.
Since opening its doors in Kenya in 2014, Tala has served over 3.5 million Kenyans and disbursed more than Sh300 billion with a customer base of 9 million customers, including in the Philippines, Mexico, and India.