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
Bill for two decades of failure by football officials is now due
Amsons Group pledges Sh4.5b for hospitals
Governor Waiguru banks on street lights to power Kirinyaga's 24hr economy
Governor Nassir launches construction of Kongowea Level 4 Hospital
We can bridge seed access in the face of global disruptions
CHAN rip-off: How weeks-old insurance firm pocketed Sh42 million
Families seek justice over Ishiara killings as anger mounts
KMPDU raises alarm over security and staffing at Ishiara hospital
"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.