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
Family calls for justice over woman's murder
How Kenya missed out on Sh125b World Bank project
From austerity to handouts: Ruto's Sh4.7tr pre-election budget to appease Kenyans
Kenya's school categorisation gives us a false sense of unity
TSC Amendment Bill, 2024: What MPs want
No exam retake: It's do or die for Form Three class as 8-4-4 ends
In pictures: Valentine's Day, the Standard Group way
Mudavadi jets to Addis for AU meet on water security
Vietnam partners with G42 to build national AI and cloud infrastructure
"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.