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
Majority of Kenyans dissatisfied with new CBC curriculum, Infotrak survey
Wetter season expected across Horn of Africa, IGAD Warns
Orphan who benefited from Ebenezer scholarship excels in KCSE
Kenya's 'night runner': How a rural ritual with links to witchcraft became an urban staple
Museveni: still seeking power after 40 years of rule
Phasing out 8-4-4: KCSE exams enter final stretch
Concern over growing inequality as 47,798 candidates score E
Great Wall tenants accuse management of alleged negligence
Parents worry as 8-4-4 learners face neglect amid CBE transition
"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.